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SERAP to Block Use of N17trn Pension Funds by Governors

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SERAP

By Modupe Gbadeyanka

The plan by the 36 state governors to borrow N17 trillion from the pension funds is not going down well with the Socio-Economic Rights and Accountability Project (SERAP).

The group has now written an open letter to President Muhammadu Buhari to block this move, arguing that this would be “detrimental to the interest of the beneficiaries of the funds, especially given the vulnerability of pension funds to corruption in Nigeria, and the transparency and accountability deficits in several states.”

In a letter dated December 5, 2020, SERAP, through its deputy director, Mr Kolawole Oluwadare, described this proposed plan by the governors as “patently unjust and contrary to the letter and spirit of the Nigerian Constitution 1999 [as amended] and the Pension Reform Act.

According to the organisation, “This proposed borrowing faces the risks of corruption and mismanagement, and would ultimately deny pensioners the right to an adequate standard of living and trap more pensioners in poverty.”

“Rather than devising ways to address pensioner poverty, governments at all levels would seem to be pushing to exacerbate it,” the letter said.

SERAP, which copied the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, expressed “serious concerns that the proposed borrowing by the 36 state governors from the pension funds would lead to serious losses of retirement savings of millions of Nigerians.”

According to the group, “Many state governors have repeatedly failed to pay workers’ salaries and pensions; several states are failing to pay contributory pension.

“Therefore, allowing state governors to collect a windfall of pension funds at the expense of pensioners who continue to be denied the fruit of their labour would amount to double jeopardy.”

“Fiduciary duties require public officers to ensure that pension funds are managed solely and exclusively for the benefit of pensioners, and to consider the socio-economic and human rights impact of pension investment decisions on the intended beneficiaries,” it added.

SERAP said President Buhari must urgently instruct the Director-General and board of the National Pension Commission (NPC) to stop this move because “it would also be very difficult to hold state governors to account for the spending of pension funds, as states have persistently failed to account for the spending of public funds including security votes.”

“Transparency is a key instrument in the spending of any pension fund investment, as it is necessary to ensure the accountability of the funds. However, several states routinely claim that the Freedom of Information Act is not applicable within their states.”

“Pension funds should not be used to make up for the failure of governments at all levels to cut the cost of governance, and the persistent refusal to reduce wastage and corruption in MDAs, as well as failure to obey court orders to recover life pensions collected by former governors and their deputies, and public funds collected by corrupt electricity contractors who disappeared with the money without executing any power projects,” the group submitted.

Recall that recently, the Governor of Kaduna State, Mr Nasir el-Rufai, who is the Chairman of the National Economic Council Ad Hoc Committee on Leveraging Portion of Accumulated Pension Funds for Investment in the Nigeria Sovereign Investment Authority (NSIA), stated that N17 trillion could be sourced from the pension funds for projects in the states.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Apapa Customs Foils Intercepts Expired Pharmaceuticals, Canadian Loud

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Customs Expired Pharmaceuticals

By Modupe Gbadeyanka

Some expired pharmaceutical products and 1.8 tonnes of Cannabis Sativa have been intercepted by officials of the Nigeria Customs Service (NCS), Apapa Area Command.

The command’s Public Relations Officer, Mr Isah Sulaiman, a Chief Superintendent of Customs (CSC), disclosed that the pharmaceutical products are suspected to be pushed into the Nigerian market by relabelling them.

It was disclosed that the items were intercepted based on credible intelligence and enhanced risk profiling systems, in collaboration with the National Drug Law Enforcement Agency (NDLEA) and other relevant regulatory bodies.

In one of the major interceptions, officers of the command seized a 40-foot container numbered CAAU7569127, which was found to contain a large consignment of Cannabis Sativa, popularly referred to as Canadian Loud.

The command revealed that a total of 3,639 sachets of the illicit substance were recovered, each weighing 500 grams, for a total estimated weight of about 1,819 kilograms (1.81 tonnes). Preliminary field tests confirmed the substance as Cannabis Sativa. The drugs were concealed inside a vehicle and within bags and drums packed inside the container.

Speaking on the seizures, Comptroller Emmanuel Oshoba warned perpetrators to desist from criminal activities, stating that “unpatriotic importers and their collaborators who deliberately engage in smuggling, drug trafficking and the importation of expired pharmaceuticals are enemies of Nigeria’s progress.”

“We have the intelligence, the technology and the resolve to identify and apprehend them. Anyone still contemplating these criminal acts should desist immediately, because the consequences will be swift, decisive and uncompromising,” he added.

He further reiterated that Apapa Port and all Customs-controlled areas remain under constant surveillance, adding that enforcement operations will continue to be intelligence-driven while ensuring legitimate trade is not hindered.

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Skite to Help Nigerian Experts Monetise Skills With All-in-One Creator Platform

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Skite

By Adedapo Adesanya

Skite is expanding its push into Nigeria’s rapidly growing knowledge economy with an all-in-one platform designed to help creators, coaches, consultants, educators and other professionals monetise their expertise from a single hub.

The platform enables users to sell courses and digital products, host paid communities, organise live events, offer one-on-one video consultations and monetise audience interactions without relying on multiple tools.

The move comes as more Nigerians turn to knowledge-based businesses as a source of income, creating demand for platforms that simplify how expertise is packaged, sold and delivered online.

While the creator economy has traditionally been associated with content creation and social media influence, a growing number of professionals are increasingly building businesses around coaching, training, consulting and digital education.

However, many creators still depend on several platforms to manage payments, courses, communities, customer engagement and events, often increasing operational costs and complexity.

Skite is seeking to address that gap by consolidating these functions into a single ecosystem built specifically for knowledge entrepreneurs.

According to the company, creators using the platform have recorded an average 30 per cent increase in revenue after consolidating their operations, while premium subscribers enjoy a zero-transaction-fee structure on earnings.

Speaking on the opportunity within the sector, Skite chief executive, Mr Samuel Obinna, said the company was focused on providing the infrastructure needed for creators to build sustainable businesses around their expertise.

“The knowledge economy is creating unprecedented opportunities for professionals to earn from what they know. We are building the tools that make it easier for creators to launch, manage and scale those businesses,” he said.

As Nigeria’s digital economy continues to expand, industry stakeholders expect knowledge entrepreneurship to become an increasingly important segment of the creator economy, with platforms such as Skite positioning themselves to serve the next generation of digital business owners.

Skite is an all-in-one creator monetisation platform that enables knowledge creators to build, grow and monetise their businesses from a single platform. The platform provides tools for selling courses and digital products, hosting paid communities, running live events, offering one-on-one consultations, monetising direct audience interactions and managing sales funnels. Skite is designed to help creators turn expertise into sustainable and scalable income.

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FG Activates 115,000 GovMail Accounts to Safeguard Communication

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GovMail

By Adedapo Adesanya

The federal government has directed all civil servants to immediately discontinue the use of personal email accounts for official communication, as part of efforts to prevent rising cyberattacks and safeguard the flow of information.

It has mandated the adoption of approved government email platforms across the federal public service.

The directive was announced by the Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, during a digital transformation summit held in Abuja to commemorate the 20th anniversary of Galaxy Backbone.

According to Mrs Walson-Jack, more than 115,000 official GovMail accounts have been activated to enhance the security, professionalism, and accountability of government correspondence.

She emphasised that official government business must no longer be conducted through personal email services or informal communication channels, which often pose challenges for record-keeping and institutional accountability.

She explained that one of the primary reasons for the policy is to ensure continuity in government operations. Official records and communications, she noted, must remain within government-controlled systems even after public officers leave office, preventing the loss of critical information tied to individual accounts.

The Head of Service also revealed that the Federal Government achieved a major digital transformation milestone by successfully digitising work processes across all 38 federal ministries and extra-ministerial departments before the end of December 2025.

Describing the accomplishment as a testament to effective leadership and institutional commitment, Mrs Walson-Jack said the milestone demonstrates the civil service’s growing readiness to embrace modern governance and technology-driven service delivery.

She further acknowledged longstanding challenges associated with manual processes, including delays, misplaced files, and bottlenecks in approval workflows.

The transition to digital systems, she said, has significantly improved document tracking, strengthened accountability mechanisms, and enhanced performance monitoring across government institutions.

The paperless civil service initiative is expected to accelerate decision-making, reduce bureaucracy, improve transparency, and ensure faster retrieval and processing of official records, ultimately creating a more efficient and responsive public service.

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