Economy
Alleged Paris Loan Diversion: SERAP Gives FG 7 Days to Sue States
By Dipo Olowookere
An interest group called the Socio-Economic Rights and Accountability Project (SERAP) has given the Federal Government seven days to initiate legal action against states that allegedly diverted and mismanaged the N388.304 billion London/Paris Club loan refunds.
In the open letter dated February 17, 2017 and signed by SERAP executive director, Mr Adetokunbo Mumuni, the group said it strongly believes that passing on information on the spending by states of N388.304 billion London Paris Club loan refunds to the Attorney General of the Federation and Minister of Justice Abubakar Malami (SAN) and bringing a case against the states that have allegedly diverted and mismanaged funds meant for payment of salaries and pension is rational, and would be a powerful tool to deter corruption in the states of the federation.
SERAP urged the Accountant-General of the Federation, Mr Ahmed Idris, to urgently pass on information to Mr Malami (SAN) so that he can take steps to initiate legal action against the states that allegedly diverted and mismanaged the funds.
“We request that you take this step within 7 days of the receipt and/or publication of this letter, failing which SERAP will institute legal proceedings to compel the discharge of duty in this matter,” the group said.
“Pursuing such action will also send a strong message that President Muhammadu Buhari would not tolerate corruption in the disbursement of funds by his government no matter who is involved.
“Such legal action will be deemed incidental to the power of the federal government to achieve effective implementation of anticorruption legislation such as the ICPC Act, which is applicable in all states of the federation, and will not amount to interference with activities within the states involved.
“The Accountant General of the Federation ought to be decisive in this matter and pass on the information on the release and spending of the funds, especially given the fact that the current economic problem and recession is largely attributable to widespread corruption and abuse of power, and that foreign countries generally regard and treat Nigerians as corrupt people.
“To do otherwise is to limit the scope of the anticorruption agenda of the federal government, and encourage impunity for alleged corruption and mismanagement within these states.
“SERAP is seriously concerned about allegations of corruption and mismanagement of funds by several states including under-declaration of refunds; diversion of some of the loan funds; curious payment of service charge to some consultants and tracing of some of the cash to personal accounts of some governors.
“Rather than spending the funds to pay all outstanding salaries of workers and provide targeted social assistance schemes for pensioners, several states have allegedly diverted and mismanaged the funds.
“SERAP is also concerned that allegations of corruption and mismanagement of in the spending of N388.304 billion London Paris Club loan refunds have undermined the human dignity of workers and pensioners facing difficult circumstances that deprive them of their capacity to fully realize their internationally recognized economic and social rights.
“The allegations of corruption in the spending of the London Paris Club loan refunds have also exacerbated poverty, social exclusion, and violated the government’s obligation to use its maximum available resources to fully realize the right of all persons especially workers and pensioners who are the most vulnerable sectors of the population.
“Allegations of corruption and mismanagement in the spending of N388.304 billion London Paris Club loan refunds by states are of utmost national concerns, as they affect the body politic of the country, and undermine constitutional authority of the federal government to fight corruption and abuse of power under enabling legislation.
“Legal action your office is also wholly consistent with the aim of the Constitution to wipe out corrupt practices, as entrenched in section 15(5) of the1999 Constitution (as amended) which provides that “the state shall abolish corrupt practices and abuse of power.
“Under section 10(2) of the Interpretation Act, the constitution and the Corrupt Practices and Other Related Offences Act, which confer power to do any act, “shall be construed as also conferring all such other powers as are reasonably necessary to enable that act to be done or are incidental to the doing of it.
“SERAP notes that President Muhammadu Buhari has promised that his government will take corruption and abuse of power regardless of who is involved, and underscored the fact that there can be no sustainable development where corruption is the norm.
“SERAP therefore asks you to release the information on the funds to Mr Malami so that he can take steps to pursue appropriate legal action against states that allegedly diverted and mismanaged the London Paris Club loan refunds with a view to seeking from the state publication of the following including on a dedicated website: a. Detailed information on the total amount of the London Paris Club loan refunds that have been spent by each state; b. Details on the total amount of the funds spent on outstanding workers’ salaries and pension as well as other projects as appropriate.
“According to SERAP’s information, the Federal Government released N388.304billion of the N522.74 billion to 35 states as refunds of over-deductions on London-Paris Club loans. The amounts received by the states are as follows: Akwa Ibom N14.5bn; Bayelsa N14.5bn; Delta N14.5bn; Kaduna N14.3bn; Katsina N14,5bn; Lagos N14.5bn; Rivers N14.5bn; Borno N13,654138,849.49; Imo 13bn; Jigawa 13.2bn; Niger N13.4bn; Bauchi N12.7bn and Benue N12.7bn.
“Other states Anambra N11.3bn; Cross River N11.3bn8; Edo N11.3bn; Kebbi N11bn; Kogi N11.2bn; Osun N11.7bn; Sokoto N11.9bn; Abia N10.6bn; Ogun N10.6bn; Plateau N10.4bn; Yobe N10bn; and Zamfara N10bn. Other states are: Adamawa N4.8bn; Ebonyi N3.3bn; Ekiti N8.8bn; Enugu N9.9bn; Gombe N8.3bn; Kwara N5.4bn; Nasarawa N8.4bn; Ondo N6.5bn; Oyo N7.2bn and Taraba N4.2bn,” the letter read in parts.
Running low on data with no airtime to spare, but you’ve got an unused gift card sitting in your email or phone? You’re not alone.
A lot of Nigerians receive gift cards from friends, family abroad, or clients, but have no real use for them. Meanwhile, data is one of those everyday needs that can’t wait. So the question comes up often: can you actually use a gift card to buy data in Nigeria? Let’s get into the answer.
Is It True That You Can Use Gift Cards to Buy Data in Nigeria?
Yes, you can buy data using your gift cards, but not directly.
Let’s clear up the confusion first. You cannot hand your Apple or Amazon gift card code directly to MTN, Airtel, or Glo and expect them to accept it as payment for data. Telecom networks don’t have any system for redeeming gift cards. They only take cash, bank transfers, USSD payments, or app-based payments.
So where does the idea come from? It comes from the workaround that’s become common practice: converting the gift card into cash first, then using that cash to buy data the normal way. This is where a gift card trading platform like Cardgoal comes in. Instead of a gift card sitting unused because you have no matching account to redeem it on, or no interest in what the card offers, you trade it in for real Naira. From there, buying data is as simple as it always is.
In other words, “buying data with a gift card” isn’t a direct swap. It’s a two-step process that takes just a few minutes when you use the right platform. And once you understand this, it opens up a genuinely useful way to make idle gift cards work for you.
How to Buy Data in Nigeria with a Gift Card? Step-by-Step
Here’s exactly how the process works from start to finish:
Step 1: Sell Your Gift Card on Cardgoal
- Download the Cardgoal app from Google play store or Apple App store
- Sign up and select the gift card you’re holding
- Enter the card’s value and code
- Get the details verified
Step 2: Get Paid Instantly
Once your card is verified, your payout is sent straight to your Cardgoal Wallet. This is the core value of using a trading platform over trying to sell a card informally to a stranger online. You can use this value to pay bills including data and airtime purchases. You get your gift card value quickly and securely, without the risk of being scammed or shortchanged.
Step 3: Use the funds to Top Up Data
With your gift card value in Naira now in your account, you can top up data directly within the Cardgoal app.
- Go to Pay Bills
- Tap on “Buy Data”option
- Select your network: — MTN, Glo, Airtel, or 9mobile.
- Enter the phone number to recharge.
- Input the amount you want to buy.
- Confirm the transaction — and your preferred data arrives almost instantly.
By this method, you can;
Whichever network you’re on, the cash from your gift card sale spends exactly the same as money from any other source, because at this point, that’s exactly what it is.
Why Use Cardgoal To Buy Data in Nigeria Instead of Other Methods?
There are informal ways to try converting a gift card into value, like posting it in a WhatsApp group, negotiating with a random buyer on social media, or asking around for anyone willing to take it off your hands. None of these are reliable, and most come with real risk of being underpaid or scammed outright. Here’s why selling gift cards through a proper platform makes more sense:
- Instead of waiting days for someone to respond to a post, verification and payout on a dedicated platform typically happen within minutes.
- Fair, transparent rates. You can see the going rate for your specific card before you commit to the trade, rather than negotiating blindly with a stranger.
- Verification checks confirm your card is valid and correctly priced, protecting you from common scams like fake buyers or already-redeemed codes.
- Convenience of one app. Beyond gift card trading, Cardgoal also supports airtime and data purchases, bill payments, and rewards. So once your card is converted to cash, you not even need to leave the app to complete your data top-up.
- No back-and-forth. There’s no haggling, no waiting for a buyer to “confirm” payment, and no uncertainty about whether the trade will actually go through.
For anyone who regularly ends up with gift cards they don’t need, this turns what would otherwise be a stagnant asset into something genuinely useful like data, airtime, bills, or straight cash.
Turn Your Unused Gift Card Into Data Today
If you’ve been sitting on a gift card with no real use for it, there’s no reason to let it go to waste. Selling it for cash and buying data with the proceeds is quick, safe, and puts real value back in your hands
Download the Cardgoal app today, sell your gift card, and buy data on your preferred network in minutes.
By Adedapo Adesanya
The Nigerian National Petroleum Company (NNPC) Limited recorded a profit after tax of N535 billion in June 2026, representing a 15.8 per cent increase from the N462 billion posted in May.
This information was revealed in the company’s June 2026 Monthly Financial and Operations Report released on Friday, which also showed that revenue for the month stood at N4.389 trillion.
According to the report, cumulative statutory payments to the federation between January and June 2026 rose to N6.286 trillion, reflecting the company’s continued contribution to government revenue.
On the operational side, average crude oil and condensate production slipped slightly to 1.72 million barrels per day (mbpd) in June from 1.73 million barrels per day in May. The state oil company attributed the decline to operational disruptions, facility integrity issues, and subsurface challenges across some producing assets.
The production figure remains close to Nigeria’s recent output levels as the country continues efforts to sustain higher crude production through improved security around oil facilities, reduced crude theft, and increased investments in upstream operations.
Natural gas production, however, increased to 7.841 million standard cubic feet per day from 7.774 million standard cubic feet per day recorded in the preceding month, representing a 0.86 per cent rise.
The report also highlighted progress on key gas infrastructure projects. The Obiafu-Obrikom-Oben (OB3) Gas Pipeline reached 98 per cent completion, with final tie-in works underway ahead of the planned First Gas in August 2026.
The pipeline is expected to strengthen gas transmission between the eastern and western gas networks, improving supply reliability across the country.
Similarly, construction and installation of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline advanced to 94 per cent completion, supporting the target of delivering gas to Abuja in 2026. The project is designed to transport natural gas from southern Nigeria to the northern corridor, with early gas delivery to Abuja targeted for later this year.
You can turn your Apple gift card to cash easily in Nigeria by using a trusted gift card trading app like Cardsoon, which pays you directly into your bank account or wallet at a high rate, often within minutes. Some Nigerians still sell to street vendors or WhatsApp buyers, but those methods are slower, riskier, and usually pay less. In this blog, we break down every method people use to convert an Apple gift card to cash, the risk with each one, and exactly how to get the highest naira value for your card.
What It Means to Turn Your Apple Gift Card to Cash in Nigeria
An Apple gift card holds a fixed dollar value that you can only spend on the App Store, iTunes, or Apple purchases. That is a problem if you were gifted one but you would rather have naira in your account. Turning it to cash simply means selling that card to a buyer who pays you the naira equivalent based on the current market rate.
The rate you get depends on three things: the card type (physical cards pay more than e-code or digital cards), the denomination, and who you sell to. This last point matters most, because the difference between a street vendor and a proper trading app can be thousands of naira on a single card.
Different Methods Nigerians Use to Sell Apple Gift Cards for Cash
There is no single way to cash out an Apple gift card in Nigeria. Here are the four methods people actually use, and what to expect from each.
1. Selling to Street Vendors and Physical Gift Card Traders
In markets like Computer Village in Lagos, you will find traders who buy gift cards on the spot for cash. It feels fast because you walk away with naira the same day. The downside is that street rates are almost always low, you have little protection if the deal goes wrong, and carrying cash around a busy market is its own risk. There is also no record of the transaction if a dispute comes up later.
2. Using WhatsApp and Telegram Gift Card Buyers
Plenty of vendors advertise gift card rates on WhatsApp and Telegram. You send your card details, they confirm, and they transfer naira to your account. The problem is trust. You are handing card details to a stranger before any money moves, and once a scammer has your code, the card can be redeemed instantly. Overpayment tricks and fake payment screenshots are common here.
3. Trading Peer-to-Peer on Social Media
Some people sell directly to individual buyers found on X, Facebook groups, or forums. Rates can look attractive because there is no platform in the middle, but there is also nobody protecting you. If the buyer disappears after you share the code, you have no way to recover your money. This is the riskiest method on the list.
4. Using an Official Gift Card Trading App
This is the method most Nigerians now trust. A licensed gift card trading app buys your Apple card directly, shows you a live rate before you commit, and pays you into your wallet or bank account, usually within minutes. Cardsoon, the best gift card trading app with high rates, is a good example: it removes the guesswork of street haggling and the danger of dealing with strangers.
Why Official Gift Card Trading Apps Are the Safest Way to Convert Apple Gift Cards to Cash
When you compare all four methods side by side, official apps win on the things that actually matter: safety, speed, and rate.
- You see the rate before you sell. The app shows a live naira value so there is no arguing over price.
- Your card details stay inside a secure system. You are not messaging codes to a random number.
- Payment is traceable and fast. Money lands in your wallet or account, not as cash you have to carry home.
- There is customer support if something goes wrong. A street vendor has no dispute process.
If you want a full walkthrough of the platforms available and how they compare, read our complete guide to sell Apple gift cards in Nigeria.
Why Cardsoon Is the Best Gift Card Trading App With High Rates in Nigeria
Not every trading app is equal. Some advertise good rates but slice them down with hidden charges, and others make you wait hours for payment. Cardsoon was built to fix both problems, and here is what makes it stand out for Apple gift cards.
- High, transparent rates. You get the exact naira figure shown on screen, not a lower amount after mystery deductions.
- No hidden fees. No service, transaction, or withdrawal charges eating into your payout.
- Instant payment. Once your card is verified, naira hits your Cardsoon wallet within minutes.
- 24/7 customer support. Real help whenever you need it, day or night.
- Ways to earn more. Daily check-in rewards and the Buddy Bonus referral feature let you boost your final payout beyond the base rate.
- Built-in security. Biometric login and advanced password settings keep your account and card details safe.
How to Turn Your Apple Gift Card to Cash on Cardsoon Step by Step
The whole process takes only a few minutes. Here is exactly how it works:
- Download the app and sign in. Register with your email, or log in if you already have an account.
- Open the Sell Gift Card section. On the dashboard, tap “Apple & iTunes”, listed right at the top.
- Select the correct card type. Choose physical or digital (e-code). Picking the wrong one can stall your trade.
- Enter your card details. Set the currency (USD) and denomination, and double-check before continuing.
- Check the live rate. Cardsoon shows the exact naira amount you will receive. Proceed only if you are happy with it.
- Tap Start Trade. The team verifies your card and pays your naira into your wallet almost immediately.
Tip: always check your Apple gift card balance on Apple’s official website before you start, and keep your purchase receipt in case you ever need to prove ownership.
How Much Is an Apple Gift Card Worth in Naira Today?
Apple gift card rates in Nigeria change daily based on market demand, so treat any figure as a snapshot rather than a fixed price. As a rough guide, higher denominations like $100, $200, and $500 cards attract the strongest naira value, and physical cards consistently pay more than e-code cards.
INSERT: current $100, $200 and $500 Apple gift card rates for physical and e-code cards
For a live figure updated regularly, check how much a $100 Apple gift card is to naira today before you sell so you can time your trade for the best deal.
Mistakes to Avoid When Converting Your Apple Gift Card to Cash
- Falling for “too good to be true” rates. Overpayment offers are a classic scam setup.
- Selecting the wrong card type. Physical and e-code cards have different rates and processes.
- Selling on public Wi-Fi. An unsecured connection makes your details easier to steal.
- Skipping the balance check. A card with a used or partial balance may be rejected.
FAQs About Turning Apple Gift Cards to Cash in Nigeria
Can I turn my Apple gift card to cash instantly in Nigeria?
Yes. Using a trading app like Cardsoon, your naira is paid into your wallet within minutes of your card being verified. Instant payout is one of the biggest advantages of using an official app over a street vendor.
Is it safe to sell my Apple gift card for Naira online?
It is safe when you use a trusted platform with secure in-app systems, live rates, and customer support. It becomes risky when you deal with strangers on WhatsApp or social media who ask for your code before paying.
Which pays more, a physical or a digital Apple gift card in Naira?
Physical Apple gift cards almost always attract a higher rate than digital or e-code cards. Always confirm your card type in the app before trading so the rate you see is accurate.
Do I need a bank account to cash out my Apple gift card?
On Cardsoon, your payment goes to your in-app wallet first, and you can withdraw to your Nigerian bank account from there. You do not need to hand your bank details to any third party.
Why do Apple gift card rates keep changing?
Rates move with market demand, the card type, and the season. Demand often rises around holidays, which can push rates up. This is why checking the live rate right before you sell helps you get the best deal.
Are there hidden charges when I sell an Apple gift card on Cardsoon?
No. Cardsoon has no service, transaction, or withdrawal fees. The naira figure shown before you trade is the exact amount you receive.
Conclusion
Turning your Apple gift card to cash in Nigeria comes down to one decision: who you sell to. Street vendors and WhatsApp buyers are slower, riskier, and pay less, while an official trading app gives you a high rate, a secure process, and instant payment. Cardsoon ticks all three boxes with no hidden fees.
Ready to cash out? Download the Cardsoon app, enter your Apple card details, and get a live rate in under 60 seconds.
