General
SERAP Urges FG to Publish Names of Oil Thieves
By Adedapo Adesanya
The federal government has been urged to publish the names of oil thieves “within 14 days” or be dragged before a court to compel it to carry out this action.
This is the demand of the Socio-Economic Rights and Accountability Project (SERAP), which expressed worry over the activities of persons suspected to be stealing crude oil belonging to Nigeria.
The Nigerian National Petroleum Company (NNPC) Limited recently said it discovered a 4-kilometre pipeline illegally installed for the purpose of siphoning crude oil for exports.
According to the NNPC, two illegal pipelines were used to steal the country’s oil wealth from Forcados Terminal and connected to the 48-inch Trans Forcados Export Trunk line.
In a letter dated October 15, 2022, SERAP called on Mr Buhari to “promptly set up a presidential panel of inquiry to thoroughly, impartially, and transparently investigate the operations of illegal oil pipelines from 2001 to date, and to widely publish the names of anyone suspected to be involved.”
The organisation further said the government must “ensure the prosecution by appropriate anti-corruption agencies of anyone suspected to be responsible for plundering the country’s oil wealth and the full recovery of any proceeds of crime.”
SERAP also urged him to “promptly authorise the investigation of reports of the destruction of an oil bunkering vessel by security agencies and to ensure that suspected owners of the vessel are identified, named, and brought to justice.”
In the letter signed by SERAP deputy director, Mr Kolawole Oluwadare, the group said: “Poor and socio-economically vulnerable Nigerians have continued to pay the price for stealing of the country’s oil wealth apparently by both state and non-state actors.”
“Your government has a legal obligation to ensure that the country’s oil wealth is used solely for the benefit of the Nigerian people, and that the wealth does not end up in private pockets, for the sake of the present and future generations,” SERAP said.
“SERAP is concerned that the illegal pipelines have been operated for many years without notice, implying a flagrant violation of constitutional and international obligations to ensure the proper, effective and efficient management of the country’s wealth and natural resources.
“It is in the public interest to promptly investigate the discovery of the illegal pipelines, publish the names of those suspected to be involved, and ensure that they are brought to justice, and that any proceeds of crime are fully recovered,” it stated.
“As the President and Minister of Petroleum Resources, you and your government have a legal responsibility to ensure accountability for these human rights crimes, and end the culture of impunity, which is fuelling the stealing of the country’s oil wealth.
“The proposed presidential panel of enquiry should be headed by a retired justice of the Supreme Court or Court of Appeal, and its members should include people with proven professional records and of the highest integrity that can act impartially, independently, and transparently,” the organisation said.
“The plundering of the country’s oil wealth has resulted in the downward trend in revenue and increasing level of borrowing, with reports of a projected N11.30 trillion deficit budget for 2023.”
“The discovery of the second illegal pipeline followed the recent destruction by security agents of a vessel allegedly used for crude oil theft off the Niger Delta creeks. About 58 illegal oil points have reportedly so far been discovered,” SERAP stated.
“According to a Nigeria Extractive Industries Transparency Initiative (NEITI) audit report, 160 million barrels of crude oil valued at $13.7 billion was stolen in four years (2009-2012). There is also a report of $17 billion debt of under-declared crude oil lifted by some international oil companies (IOCs) between 2011 and 2014.”
“According to reports, Nigeria has seen increased oil theft in recent years. The country loses 470,000 barrels of crude oil monthly, amounting to $700 million to oil theft.”
“The country has reportedly lost $10 billion to crude oil theft in seven months, which is stated to be more than 50 per cent of Nigeria’s external reserves. The Chatham House, a think-tank based in the United Kingdom, has noted that oil theft in Nigeria is on an industrial scale,” it added.
By Adedapo Adesanya
The South African Consulate General in Lagos, in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is hosting the 4th edition of the South Africa Focus Week in Lagos, Nigeria, from April 22 – 26, 2026.
The annual platform continues to grow as a strategic initiative aimed at fostering social cohesion between South Africans and Nigerians while positioning South Africa as a preferred destination for business, tourism, and education. Since its inception in 2023, South Africa Focus Week has attracted over 1,500 participants, bringing together stakeholders from across sectors, including trade and investment, arts and culture, tourism, aviation, and the culinary industry.
The 2026 edition holds particular significance as it coincides with the 30th anniversary of South Africa’s democratic Constitution, enacted in 1996, as well as 32 years of unbroken diplomatic relations between South Africa and Nigeria, established in February 1994. These milestones underscore the enduring partnership between the two nations, rooted in shared history and strengthened through formal agreements and ongoing collaboration.
The 2025 economic relationship between South Africa and Nigeria reflects a strategically significant, multi-dimensional partnership anchored in trade, energy security, investment flows, and strong institutional cooperation. While bilateral trade remains structurally imbalanced – with South Africa exporting US$468.48 million and importing $1.69 billion, resulting in a $1.22 billion deficit – this dynamic is largely driven by South Africa’s reliance on Nigerian crude oil, positioning the relationship as one of strategic interdependence rather than imbalance alone.
This partnership is further elevated by the relative economic weight of both countries. According to IMF projections, South Africa’s economy is valued at approximately $443.6 billion, while Nigeria’s stands at around $334.3 billion in nominal terms for 2026. As two of the largest economies on the continent, their bilateral engagement constitutes a central axis of African economic activity, with disproportionate influence on the success of continental integration efforts.
Beyond trade, the relationship is reinforced by deep two-way investment linkages. South African firms -including MTN Group, Shoprite, and Standard Bank – maintain a strong presence in Nigeria, while Nigerian companies such as Access Bank and Paystack have established a growing footprint in South Africa. Although investment flows are asymmetrical and some Nigerian firms have faced operational challenges, these exchanges reflect an emerging bi-directional economic corridor that extends beyond goods trade into services, finance, and digital innovation.
Aligned with Brand South Africa’s mandate to build the country’s global reputation and competitiveness, the week-long programme will convene leaders from government, business, civil society, academia, and the media. Discussions will focus on leveraging the African Continental Free Trade Area (AfCFTA) as a tool for market access and global positioning, with Nigeria serving as a key focal point.
The South Africa Focus Week has features a series of high-level engagements and cultural activities designed to deepen economic ties and promote collaboration: South Africa–Nigeria Infrastructure Investment Conference (April 22, 2026) which was held under the theme South Africa–Nigeria Partnership: Unlocking Infrastructure Opportunities,” the conference will bring together key stakeholders in infrastructure development to explore collaborative projects in road, rail, and transportation systems.
The forum also examined the role of Public–Private Partnerships (PPPs) and facilitated discussions on project financing and implementation with institutions such as the DBSA and Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).
This was followed by the 2nd Economic Diplomacy Roundtable (Thursday, April 23, 2026), which was hosted in partnership with MTN Nigeria under the theme Role of Technology in Infrastructure Development, the roundtable will convene senior government officials, private sector leaders, and industry experts to identify investment opportunities and strengthen strategic partnerships.
Friday, April 24, was for Arts and Culture Experience, which is a dedicated cultural day will showcase Lagos’ creative spaces and features a panel discussion on South Africa’s arts, film, music, and culture. The programme includes a South African film screening, engagements with filmmakers, and a networking reception aimed at fostering collaboration between the creative industries of both countries.
The event continues on Thursday, April 25, with Freedom Day Celebration and Closing Ceremony. This commemorative event will celebrate 30 years of South Africa’s Constitution, 32 years of freedom and democracy, and the enduring diplomatic relations between South Africa and Nigeria. The ceremony will also provide an opportunity to reflect on outcomes from the week and outline future areas of cooperation.
The celebration forms part of Brand South Africa’s Global South Africans Programme, which recognises and connects South Africans in the diaspora as ambassadors of the nation’s values and identity.
The week climaxes with the 4th edition of the South Africa Golf Tournament at Ikoyi Golf Club on Saturday, April 26, 2026, which will be done in partnership with Crossflex International.
According to a statement, the event aims to strengthen people-to-people relations through sports diplomacy, bringing together South African and Nigerian golfers in a spirit of camaraderie and collaboration.
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
By Adedapo Adesanya
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities.”
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