News
SERAP Gives Governors & Wike 7 Days To Account For ₦5.9trn, $4.6bn Loans
Socio-Economic Rights and Accountability Project (SERAP) has urged Nigeria’s 36 state governors and the Minister of the Federal Capital Territory, Abuja, Mr Nyesom Wike to “widely publish copies of the loan agreements and spending details of some N5.9 trillion and $4.6 billion loans obtained by their states and the FCT, including details and locations of projects executed with the loans.”
SERAP also urged them to “promptly invite the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Economic and Financial Crimes Commission (EFCC) to investigate the spending of the domestic and external loans obtained by your state and the FCT.”
SERAP’s request followed the disclosure last week by Governor Uba Sani of Kaduna State that the immediate past administration of Nasir El-Rufai left $587m, N85bn debt and 115 contractual labilities, making it impossible for the state to pay salaries.
In the Freedom of Information requests dated 30 March 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “It is in the public interest to publish copies of the loan agreements and details of how the loans obtained are spent.”
SERAP said, “Nigerians have the right to know how their states are spending the domestic and external loans obtained by the governors.”
SERAP said, “Widely publishing copies of the loan agreements and spending details of the loans obtained would ensure that persons with public responsibilities are answerable to the people for the performance of their duties in the management of public funds.”
The FoI requests, read in part: “We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and your state to comply with our request in the public interest.”
“SERAP is seriously concerned that many of the country’s 36 states and FCT are allegedly mismanaging public funds which may include domestic and external loans obtained from bilateral and multilateral institutions and agencies.”
“Transparency in the spending of the loans obtained by your state is fundamental to increase accountability, prevent corruption, and build trust in democratic institutions with the ultimate aim of strengthening the rule of law.”
“According to Nigeria’s Debt Management Office, the total public domestic debt portfolio for the country’s 36 states and the Federal Capital Territory is N5.9 trillion. The total public external debt portfolio is $4.6 billion.”
“Many states and the FCT reportedly owe civil servants’ salaries and pensions. Several states are borrowing to pay salaries. Millions of Nigerians resident in your state and the FCT continue to be denied access to basic public goods and services such as quality education and healthcare.”
“Several states including your state are also reportedly spending public funds which may include the domestic and external loans to fund unnecessary travels, buy exotic and bulletproof cars and generally fund the lavish lifestyles of politicians.”
“SERAP is seriously concerned that the domestic and external loans obtained by your state and the FCT are vulnerable to corruption and mismanagement. Your government has a responsibility to ensure transparency and accountability in how any loans obtained by your state are spent, to reduce vulnerability to corruption and mismanagement.”
“Publishing copies of the loan agreements obtained by your state and the FCT would allow Nigerians to scrutinise them, and promote transparency and accountability on the spending of public funds including the loans obtained.”
“SERAP believes that providing and widely publishing the details of the spending of the domestic and external loans obtained by your state and the FCT would enable Nigerians to effectively and meaningfully engage in the management of the loans.”
“SERAP believes that the constitutional principle of democracy also provides a foundation for Nigerians’ right to know the details of loan agreements and how the loans obtained are spent. Citizens’ right to know promotes openness, transparency, and accountability that is in turn crucial for the country’s democratic order.”
“The effective operation of representative democracy depends on the people being able to scrutinize, discuss and contribute to government decision making, including on the spending of loans obtained by your state and the FCT.”
“To do this, they need information to enable them to participate more effectively in the management of public funds by their state government and the FCT.”
“The public interest in obtaining information about expenditures relating to the loans obtained by your state outweighs any privacy or other interest. Moreover, the oversight afforded by public access to such details would serve as an important check on the activities of your state and help to prevent abuses of the public trust.”
“SERAP is concerned that there is a significant risk of mismanagement or diversion of funds linked to loans obtained by state governments including your state. The accounts of Nigeria’s 36 states and the FCT are generally not open to public scrutiny.”
“Your state has obligations under international anticorruption and human rights law, including a responsibility to promote transparency and accountability in the management of public funds, prevent mismanagement or diversion of public funds, and redress any abuse of public trust.”
“The Nigerian Constitution, human rights and anticorruption treaties to which Nigeria is a state party also impose obligations on your state to prevent mismanagement or diversion of public funds including the loans obtained.”
“SERAP is seriously concerned that years of allegations of corruption and mismanagement of public funds including the loans obtained by states have contributed to widespread poverty, underdevelopment and lack of access to public goods and services.”
“Opacity in the spending of loans obtained by states has continued to have negative impacts on the fundamental interests of the citizens and the public interest.”
“Transparency would ensure that these loans are not diverted into private pockets, and increase public trust that these loans are used and any future loans would be used to benefit Nigerians resident in your state.
“The Freedom of Information Act, Section 39 of the Nigerian Constitution, article 9 of the African Charter on Human and Peoples’ Rights and article 19 of the International Covenant on Civil and Political Rights guarantee to everyone the right to information, including about the loan agreements and how the loans obtained are spent.”
“Your state cannot hide under the excuse that the Freedom of Information Act is not applicable to your state to refuse to provide the details being sought, as your state also has clear legal obligations to provide the information as prescribed by provisions of the Nigerian Constitution 1999 [as amended], and the African Charter on Human and Peoples’ Rights (Ratification and. Enforcement) Act.
Nigeria Sanctions Committee (NSC) has designated Simon Ekpa, 16 other persons and two entities, for their alleged involvement in supporting terrorist activities and terrorism financing.
Simon Ekpa
The committee further directed financial institutions to freeze their assets and report any transactions related to the individuals and entities to the Sanctions Committee and the Nigerian Financial Intelligence Unit (NFIU).
Those named on the list include Simon Ekpa, Godstime Promise Iyare, Francis Mmaduabuchi, John Onwumere, Chikwuka Eze, Edwin Chukwuedo, Chinwendu Owoh, Ginika Orji, Awo Uchechukwu, and Mercy Ebere Ifeoma Ali.
Others are Ohagwu Juliana, Eze Okpoto, Nwaobi Chimezie, Ogomu Kewe, Igwe Ka Ala Enterprises, Seficuvi Global Company, and Lakurawa Group.
According to a document obtained from the committee on Thursday, the list was approved by the President upon the recommendation of the Attorney General of the Federation.
“The Nigeria Sanctions Committee held a meeting on March 6, 2024, where specific individuals and entities were recommended for designation following their involvement with terrorism financing.
“The Attorney General of the Federation, with the approval of the President, has thereupon designated the following individuals and entities to be listed on the Nigeria Sanctions List.
“In accordance with Section 54 of the Terrorism (Prevention and Prohibition) Act, 2022, you are required to:
“(a) Immediately identify and freeze, without prior notice, all funds, assets, and any other economic resources belonging to the designated persons in your possession and report the same to the Sanctions Committee.
“(b) Report to the Sanctions Committee any assets frozen or actions taken in compliance with the prohibition requirements.
“(c) Immediately file a Suspicious Transactions Report (STR) to the NFIU for further analysis of the financial activities of such individuals or entities.
(d) Report as an STR to the NFIU all cases of name matching in financial transactions prior to or after receipt of this list.”
The committee ordered the immediate freezing of bank accounts and financial instruments associated with the listed individuals and entities across multiple banks, payment platforms, and financial institutions.
“Freezing measures should be extended to all accounts associated with the designated subjects. For designated entities, this should include accounts linked to their signatories and directors to ensure comprehensive enforcement of the sanctions regime,” the document added.
The committee also stated that financial institutions and relevant stakeholders have been instructed to enforce the sanctions and submit compliance reports to the Nigeria Sanctions Committee via [email protected] and
See the full list of the frozen accounts below
- Simon Ekpa Njoku 21-03-1985 Guaranty Trust Bank 0118835791, 0115442299, 0115442275
- Godstime Promise Iyare 20-05-1996 Access Bank 0060032439, 1187008630, 1448136683. UBA 2212655102. Moniepoint 8197394552. Kuda 2007096158. Promicool Venture- Moniepoint 8197394576.
- Francis Chukwuedo Mmaduabuchi 27-09-1987 Eco Bank 3941072599, Fidelity 6239280146, Opay 8037688095, Moniepoint 8196060258, 8196028438, 8196028452,5380383959, 5612325508,4730823866, 8037688095
- John Anayo Onwumere 05-03-1987 Sterling 0026224269, Zenith 4230646454
- Chikwuka Godwin Eze 05-05-1975 First Bank 3031299977, Access Bank 0110709618, 0108595489, 1132518632
- Edwin Augustine Chukwuedo 27-05-1983 Union 0010808495, 0110232286, 0069247850, Eco Bank 2321194539, Opay 8169916076, Moniepoint 6786290317, 6786290300
- Chinwendu Joy Owoh 10-02-1982 First Bank 3125731837, GTB 0115848475, Moniepoint 6474876289, Union 0014660761
- Ginika Jane Orji 05-10-1995 Blueridge 8039231985, Opay 7059681248, 8106940744
- Awo Uchechukwu 11-12-1978 First Bank 3060144916
- Mercy Ebere Ifeoma Ali 07-07-1998 Access 1612608952, FCMB 6594319019, First Bank 3147574474
- Ohagwu Nneka Juliana 15-08-1985 UBA 2147559148
- Eze Chibuike Okpoto 12-01-1989 Access 0071127599, 1138098116, FCMB 3723955016, GT Bank 0123014963
- Nwaobi Henry Chimezie 12-06-1991 Access 1113046148, 1113046148, UBA 2115584448, 2117752704, First Bank 3067985749, Moniepoint 8276850931,
- Ogomu Peace Kewe 27-06-1997 Access 1840168323, UBA 2096777826, First Bank 3124937333, 2041450556, (USD) 3180578127, Zenith 2547460190, Opay 9069071154, Kuda 2028607838, Fidelity 6552642526, GT Bank 0258732080, Stanbic 0021280495
- Igwe Ka Ala Enterprises 3750733 Access 1872085373, 0800331795. Fairmoney 2683102063. Fidelity 5090919707, GTB 0206153527, 0044247093, 0044247086, 0044247079, 0044247062, 0044247055, 0044247103, 4020644423. Opay 9023765613, 8035144914, 8126308128. Polaris 3124277058. Carbon 0629821223. Zenith 1226773554
- Seficuvi Global Company 3225098 Access Bank 1436852548, Eco Bank 3831141439
- Lakurawa Group NLLKW
ALX, Africa’s leading tech career accelerator, is celebrating a major win for young African talent as 21 exceptional learners from the ALX Pathway program secure prestigious scholarships from the Mastercard Foundation to pursue further studies at the African Leadership College of Higher Education (ALCHE).
Among them, seven outstanding scholars are from Nigeria, reinforcing the country’s reputation as a hub for ambitious, high-potential talent within ALX’s transformative learning ecosystem.
The programme is a pathway to global universities and scholarships, equipping Africa’s future leaders with cutting-edge skills, career-defining networks, and access to life-changing opportunities in high-growth industries.
Speaking on this remarkable achievement, Oluwapelumi Thomas, Learning Community Experience Specialist at ALX Nigeria, shared, “At ALX, we believe that unlocking Africa’s potential starts with unlocking the potential of its people.
The success of these learners in securing scholarships to ALCHE through the Mastercard Foundation is evidence that talent, when nurtured with the right opportunities, knows no bounds. We couldn’t be prouder.”
Among the Nigerian awardees are: Ayomide Samson Ajayi, Effiong Immaculata Emmanuel, Hanif Olayiwola, Chigozie Emmanuel Ndubuaku, Peace Chidinma Chukwuka, Chibuzor Moses Uzowuru and Chisom Obueze Louisa.
The Mastercard Foundation scholarships will provide recipients with full tuition and stipends to pursue world-class higher education at ALCHE, sharpening their leadership, technical, and entrepreneurial skills to drive impact across the continent. This milestone reinforces ALX’s role as a driving force in shaping Africa’s next generation of changemakers.
With every success story, ALX continues to open doors for Africa’s young professionals, empowering them to take advantage of career support, networking, and transformative scholarship opportunities. The journey doesn’t stop here—Africa’s future innovators are just getting started.
Airtel Mobile Commerce BV, a subsidiary of Airtel Africa PLC, is thrilled to announce the launch of the Airtel Money GlobalPay Card, a new payment solution designed to connect Airtel Money customers across Africa with global online marketplaces.
This collaboration with Mastercard will empower Airtel’s 150 million mobile phone users in 14 African countries with access to Mastercard’s global merchant network, enabling safer and more secure international transactions.
The Airtel Money GlobalPay Card is a virtual (non-plastic) payment solution that links directly to Airtel Money wallets. This card can be used for a wide range of payments across global online merchants, including major platforms such as Facebook, Netflix, Uber, Amazon, Google, AliExpress, and Alibaba.
Users will also have the ability to make payments for travel bookings, utilities, subscriptions, and purchase goods from international suppliers—all from the convenience of their mobile phones.
For Airtel Money customers, activating the Airtel Money GlobalPay Card is simple. Customers simply need opt-in for the card, load it from Airtel Money wallet, and start shopping. No additional documentation, registration, or installations are required.
With this payment solution, Airtel and Mastercard aim to meet the growing demand for digital payments in Africa and support small businesses in cross-border trade. The partnership aligns with Airtel Africa’s goal of enhancing financial inclusion by providing efficient and seamless payment solutions to mobile money users across the continent.
CEO of Airtel Money, Ian Ferrao, commented: “At Airtel, we are continuously innovating to enhance the customer experience. By adding Mastercard’s secure virtual payment solution to Airtel Money, we are making International payments simpler and more accessible for our customers. This collaboration allows us to offer a global e-commerce experience.”
Mastercard’s global network and expertise in payment solutions will play a critical role in supporting financial inclusion efforts in Africa. The initiative aligns with Mastercard’s commitment to bring one billion people, 50 million small businesses, and 25 million women entrepreneurs into the digital economy by 2025.
Senior Vice President for Digital Partnerships at Mastercard Middle East and Africa, Muhammad Nana, stated: “Our digital partnerships strategy focuses on enabling the digital transformation of our partners, helping them provide their customers with access to a seamless global payment ecosystem. With over 150 million Airtel Africa consumers now connected to the global digital economy, we are helping more consumers access the benefits of e-commerce.”
With increasing mobile internet access and the growth of affordable smartphones, African consumers are poised to take full advantage of this new solution. The Airtel Money GlobalPay Card empowers users—both banked and unbanked—to shop globally, connecting them to digital products and services right from their mobile phones.
How to Link Airtel Money GlobalPay Card:
- Download the MyAirtel App from Playstore or App Store
- Select Airtel Money and enter your PIN
- Opt in for the Airtel Money GlobalPay Card powered by Mastercard and accept the terms and conditions
- Top-up your card from your Airtel Money wallet and start shopping
NITDA Alerts Nigerian Website Owners of Critical Security Flaw in Jupiter X Core WordpPress Plugin
Nigerian Women Worst Hit by Ponzi Schemes – SEC
FG Lists Simon Ekpa, 16 Others as Terrorism Financiers, Freezes Accounts
EMOSIM, Tata Communications Bring Nigeria’s First Travel eSIM to Life
FG Partners China to Crack Down on Chinese Nationals in Financial Crimes
Fidelity Bank Raises ₦232Bn in First Phase of Capital Raising
Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands
KongaFM Basks in Rave Reviews from Nigerians
GSMA Launches Innovation Fund to Boost AI Solutions in Emerging Markets
FG Order MDAs to Close Commercial Banks’ Accounts, Enforce TSA Policy
News3 days agoFG Launches Global Certification Programme @ DBI
E-Business3 days agoNigeria, UK Partner on Building Resilient National Cybersecurity Architecture
Telecom3 days agoATCON Commends FG over Plans to Build 7,000 Telecom Towers
News3 days agoBanking Data Theft Attacks on Smartphones Triple in 2024 – Report
Telecom3 days agoMTN Showcases 5G’s Transformative Power at Go M.A.D Event in Calabar
Broadcasting3 days agoReps Order Multichoice to Halt Planned Subscription Hike
Telecom2 days agoCustomers to Receive 5GB Free Data on New Glo e-SIM
E-Business2 days agoStealer Malware Leaked over 2m Bank Cards – Report