General
Buhari Gets Ultimatum to Probe Spending of Ecological Fund
By Adedapo Adesanya
President Muhammadu Buhari has been given a deadline by the Socio-Economic Rights and Accountability Project (SERAP) to investigate the spending of Ecological Fund by governments at all levels—federal, state and local- from 2001 to date.
In a letter dated October 22, 2022, the group asked Mr Buhari to direct the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, and the appropriate anti-corruption agencies to look into how the funds have been spent for the last 21 years within seven days.
This became imperative following the ravaging floods in most states of the federation, which have claimed more than 600 lives and have rendered many homeless.
SERAP said it was worried that the huge amount of money released to state and local governments to tackle this issue had been squandered by officials.
The organisation wants “suspected perpetrators of corruption and mismanagement [to] face prosecution as appropriate, if there is sufficient admissible evidence, and any missing public funds should be fully recovered.”
In the open letter signed by its deputy director, Mr Kolawole Oluwadare, the organisation said: “trillions of ecological funds have allegedly gone down the drain. The resulting human costs directly threaten human rights – rights to life and to a place to live – rights that your government has an obligation to protect.”
The rights body said, “Irrespective of the cause of a threat to human rights, your government still has positive obligations to use all the means within its disposal to uphold the human rights of those affected.”
SERAP also said, “Although ecological funds are shared across the three tiers of government and emergency management agencies, the funds are managed and supervised by the Federal Government.”
It reminded Mr Buhari that his “government has the legal obligations to hold all tiers of government and emergency management agencies to account, and to trace, find, and recover any missing ecological funds.”
“Your government has the legal obligations to address the calamitous consequences of flooding for the human rights of millions of people and to prevent and address some of the direst consequences that climate change may reap on human rights, especially given the disproportionate impact on vulnerable people and communities.
“Your government must use all means available to it to prevent and address the threats to human rights that result from climate change and to provide access to effective remedies for victims when these rights are violated.
“Your government has a positive obligation to protect individuals against the threat posed to human rights by climate change, regardless of the causes.
“Your government also has legal obligations to effectively address the aftermath of the flooding, such as deterioration in health, diminishing access to safe drinking water and susceptibility of the areas affected to disease.
“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 consider appropriate legal actions to compel your government to comply with our request in the public interest.
“Climate change also has the potential to exacerbate existing threats to human rights in the country. Rising global temperatures will jeopardise many people’s livelihoods, increasing their vulnerability to poverty and social deprivation.
“In order to uphold its constitutional and international human rights obligations, your government must respond to the impacts of the flooding and of climate change generally.
“According to the audit of the Ecological Fund Office carried out by the Nigeria Extractive Industries Transparency Initiative (NEITI), the total amount allocated and received by the fund from December 2011 to November 2016 was N277 billion.
“The operations of the Fund from 2012 to 2016 reportedly showed that some of the disbursements were not utilised for the purpose for which it was established. During these periods, N74,170,932,645.20 was released to State Governments to solve ecological problems in their states.
“Impunity for corruption in the management of Ecological Fund will continue as long as high-ranking public officials go largely unpunished for their alleged crimes. By pursuing these allegations and taking the evidence before the court, the truth will be revealed and justice best served.
“SERAP is seriously concerned that years of allegations of corruption and mismanagement in the spending of Ecological Fund and entrenched impunity of perpetrators have undermined the ability of governments at all levels and emergency management agencies to prevent the impact of flooding on the human rights of socio-economically vulnerable Nigerians, and to respond to the problem effectively.
“Allegations of corruption and mismanagement have undermined the ability of authorities at all levels to invest in drainage systems and to tackle soil erosion and climate change challenges across several parts of the country.
“SERAP also urges you to direct Mr Malami and appropriate anti-corruption agencies to urgently identify and ensure access to justice and effective remedies to affected victims,” it said.
“SERAP also urges you to direct Boss Mustapha, Secretary to the Federal Government to publish details of allocations from the Ecological Fund to the Federal Government, the 36 state governments, Abuja, the 774 local government areas of the country, and the National Emergency Management Agency, as well as state emergency management agencies between 2001 to date.
“SERAP urges you to instruct the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other Related Offences Commission (ICPC) to jointly track and monitor the spending of Ecological Fund by the 36 state governors, the 774 local government areas, as well as all emergency management agencies across the country funded through the Ecological Fund.
“SERAP is concerned that the funds released for ecological projects are characterised by mismanagement, diversion of funds, substandard and abandoned projects fully paid for. Ecological funds have also been allegedly spent for other purposes, such as election campaigns and political patronage.
“Prevention of corruption in the spending of Ecological Fund, and preventing and addressing the challenges caused by climate change are serious and legitimate public interests.
“There is a legitimate public interest in ensuring justice and accountability for alleged corruption and mismanagement in the management of Ecological Fund.
“Nigerians have the right to know how the public funds budgeted to address ecological challenges are spent. Publishing the details of allocations of Ecological Fund since 2001 would promote transparency, accountability, and reduce the risks of corruption in the spending of the funds,” SERAP added.
By Modupe Gbadeyanka
To support innovative solutions that enhance financial accessibility and security in the digital asset ecosystem, Tether has made a strategic investment in a financial technology (fintech) company specializing in self-custody crypto wallets and digital payments, Fizen Limited.
This transaction will allow Fizen to integrate its innovative technology with Tether’s leadership in the stablecoin industry.
The objective is to accelerate digital asset utilization while upholding the utmost security standards. This will further solidify Tether’s role in advancing blockchain-based finance and its commitment to global financial inclusion.
According to the chief executive of Tether, Mr Paolo Ardoino, this investment in Fizen “underscores our commitment to expanding global access to efficient and reliable digital financial solutions that promote the informed responsible use of digital assets in everyday life.”
“At Tether, we recognize the crucial role of self-custodial payment infrastructure in driving real-world use cases.
“Fizen’s innovative model helps to bridge the gap between self-custody and digital payments, empowering users with greater financial independence while reinforcing our leadership as the most widely used stablecoin globally, advancing inclusive access to the financial system,” Mr Ardoino added.
Also, the chief executive of Fizen, Leo Vu, said, “Stablecoins like USD₮ will undoubtedly drive crypto payments and financial inclusion worldwide.
“The technology infrastructure is already in place, but we lack consumer-friendly applications with intuitive UI/UX to accelerate mass integration.
“Fizen is solving this by making crypto payments an intuitive part of daily transactions, allowing users to pay seamlessly without even realizing they are using blockchain technology.”
Fizen offers advanced payment technologies that facilitate seamless stablecoin transactions, making digital assets more accessible for consumers and businesses. It is one of the crypto companies delivering real value to consumers and businesses, bringing practical crypto use cases to life.
The World Bank’s Global Findex Report reveals that millions of individuals worldwide remain unbanked. People in this category consistently cite distance to the nearest financial institution and a lack of proper documentation requirements as the primary reasons they could not access traditional banking services.
This investment will enable Fizen to enhance its blockchain capabilities, facilitating the seamless integration of stablecoins across multiple blockchain ecosystems. It will also provide users access to a more efficient and user-friendly solution to store, transfer, and transact using stablecoins, eliminating restricted access or complicated documentation.
However, while stablecoins offer a compelling alternative for those excluded from traditional financial systems, their practical use in everyday commerce still faces hurdles despite clear advantages, such as lower fees, enhanced security, and near-instant transactions.
Merchant usage remains a key challenge. Through this investment, Fizen aims to bridge this gap by enabling users to pay seamlessly with stablecoins.
At the same time, merchants receive instant fiat settlements through known payment methods like QR codes and card readers. This eliminates the need for additional infrastructure, making digital asset payments more accessible and efficient for businesses worldwide.
Market projections for 2024 state that QR code payments are expected to surpass $3 trillion, with 2.2 billion users by 2025, driven by increasing smartphone penetration and the rising demand for frictionless, secure, and convenient digital transactions.
With this strategy and strong technological and business development foundations, the collaboration between Fizen and Tether looks to accelerate the widespread use of crypto payments at scale to usher in an era of seamless digital transactions.
By Aduragbemi Omiyale
Dangote Industries Limited (DIL) has been commended for its contribution to the growth of Nigeria’s economy and general Arica’s development.
This applause came from the Enugu Chamber of Commerce, Industries, Mines, and Agriculture (ECCIMA) during the Dangote Group Special Day at the 2025 Enugu International Trade Fair.
The Deputy President of ECCIMA, Mr Eric Chime, who was at the event, said the conglomerate, through its various investments, has contributed to the growth and development of the domestic economy.
“We are highly delighted to welcome Dangote Plc once again to their special day at the ongoing trade fair. Their continued presence and commitment have been instrumental to the success of this annual gathering.
“Dangote’s contribution to the Nigerian economy is enormous spanning virtually every sector, from cement and food production to their recent game-changing entry into the oil and gas sector through the Dangote Refinery,” he stated.
He emphasized that the impact of the refinery, especially in regulating petroleum product prices, deserves national recognition and support.
“We call on the Federal Government to continue to support Dangote Group in its efforts to put smiles on the faces of Nigerians,” he urged.
Mr Chime further praised the president of DIL, Mr Aliko Dangote, for his visionary leadership and relentless drive for innovation, noting that the Dangote business empire represents a perfect example of what entrepreneurial excellence can achieve through research, resilience, and dedication.
In his remarks, the Deputy Regional Director for Southeast at Dangote Cement Plc, Mr Ayirioritse Okerentie, expressed gratitude to ECCIMA for providing a viable platform to engage stakeholders and show case Dangote Group’s contributions to Nigeria’s economic development. He said that the theme of the Fair, “Developing Nigeria’s Industrial Sector/SMEs for Economic Advancement & Global Recognition” speaks directly to the core mission of Dangote Group.
“As Africa’s largest indigenous manufacturing conglomerate, we are focused on Production, Prosperity, Power, and Pride. We believe the industrial sector, and by extension SMEs, can play a transformative role in job creation, import substitution, and overall economic advancement.
“The industrial/manufacturing sector has the capacity to impact significantly on the economy especially in the creation of jobs, provision of goods, reduction in imports of finished products and adding of value to our raw materials. It is generally accepted that a nation’s economic wellbeing is largely dependent on the industrial/manufacturing sector,” Mr Okerentie said.
“The industrial/manufacturing sector is labour intensive, could create millions of both direct and indirect employments for people of diverse skills such as administrators, accountants, engineers, technicians, marketing & sales among others.
“It can also create indirect employment for supply chain actors in other sectors of the economy such as raw materials suppliers, logistics and transportation, farmers, and miners,” he added.
By Dipo Olowookere
On Friday, April 18, 2025, all roads will lead to the headquarters of the Love of God in Christ (LOGIC) Church in the Lekki area of Lagos State for an uplifting evening dedicated to expressing the message of the death, burial and resurrection of Jesus Christ in music.
The day, which is Good Friday, has been set aside to celebrate the death, burial and resurrection of Jesus Christ, which is the cornerstone of Christian faith.
Christian faithful from across the global will gather for the hybrid programme tagged Jesus + Nothing Worship, a platform that provides worshippers an opportunity to connect with the essence of the Gospel in worship.
Soul-lifting singers expected to minister on that day include Neon Adejo, Greatman Takit, Victor Thompson, Timi Dakolo, Samuel Giveson (SMJ), Noble G, Steve Hills, and Lily Perez.
Others are Joxie, Anderson Qozan, Pastor Victor Paul, EmekaSongz, Flo, Dorcas Moore, Magpsalms, Mera Owili, Gerald Bishung, Phebe Lion, and the vibrant Evolution Children’s Choir.
The Lead Pastor and Apostolic Head of the LOGIC Church, Apostle Flourish Peters, while commenting ahead of the event, said, “As a Christocentric faith community, this event is a great way to celebrate the gift of Christ, who laid down his life for our redemption. Good Friday is a great time to have a worship celebration like this.”
“Nothing speaks to the culture of a people like the music they listen to. Jesus + Nothing Worship will contribute to shaping and mainstreaming a culture of christocentric worship, where the Gospel of Christ’s death, burial and resurrection is platformed through worship,” he added.
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