General
Missing N4.4bn: SERAP Drags National Assembly to Court
By Adedapo Adesanya
In a fresh round of action, the Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Senate President, Mr Ahmad Lawan, and Speaker of House of Representatives, Mr Femi Gbajabiamila over their failure to probe an alleged misappropriated N4.4 billion public money budgeted for the National Assembly.
The suit followed the publication of annual audited reports for 2015, 2017, and 2018 in which the Auditor-General of the Federation raised “concerns about alleged diversion and misappropriation of public funds, sought the recovery of any missing funds, and asked that the evidence of recovery should be forwarded to his office.”
In suit number FHC/ABJ/CS/366/2021 filed last Friday at the Federal High Court in Abuja, SERAP is seeking: “an order of mandamus directing and compelling Dr Lawan, Mr Gbajabiamila and the National Assembly to perform their constitutional oversight functions to ensure the prompt and transparent investigation into the allegations that N4.4 billion budgeted for the National Assembly may be missing and unaccounted for.”
In the suit, the association argued that “by the combined reading of the provisions of the Nigerian Constitution of 1999 [as amended], the International Covenant on Economic, Social and Cultural Rights, and the UN Convention against Corruption, which Nigeria has ratified, the National Assembly has legal duties to combat corruption, and promote transparency and accountability in the management of public resources.”
According to SERAP: “transparency and accountability in the management of public resources and wealth is essential for promoting development, people’s welfare and well-being, and their access to basic public services, as well as good governance and the rule of law.”
SERAP is also arguing that “The National Assembly has the legal responsibility to ensure that the serious allegations of corruption and mismanagement documented by the Office of the Auditor-General of the Federation are promptly, independently, thoroughly, and transparently investigated, and to end the culture of impunity that is fuelling these allegations.”
According to SERAP: “The failure of the National Assembly to promptly and thoroughly investigate, and to refer to appropriate anti-corruption agencies the allegations documented in the annual audited reports for 2015, 2017 and 2018 is a fundamental breach of the oversight and public interest duties imposed on the legislative body by sections 4, 88 and 89 of the Nigerian Constitution.”
The suit filed on behalf of SERAP by its lawyers Mr Kolawole Oluwadare and Ms Adelanke Aremo, read in part: “Granting this application would serve the interest of justice, reduce corruption and mismanagement, as well as end impunity of perpetrators, and advance the fundamental human rights of Nigerians.
“This suit seeks to vindicate the rule of law, the public interest, and to promote transparency and accountability. Government agencies and institutions are responsible to a court of justice for the lawfulness of what they do, and of that the court is the only judge. The National Assembly has no legally justifiable reason to refuse to investigate the allegations documented by the Office of the Auditor-General of the Federation.
“Obedience to the rule of law by all citizens but more particularly those who publicly took an oath of office to protect and preserve the Constitution is a desideratum to good governance and respect for the rule of law. In a democratic society, this is meant to be a norm.
It would be recalled that SERAP had in a letter dated 30 January 2021 requested Dr Lawan and Mr Gbajabiamila to “use their good offices to urgently probe and refer to appropriate anti-corruption agencies allegations that N4.4 billion of public money budgeted for the National Assembly may have been misappropriated, diverted or stolen.
The letter, read in part: “The Auditor-General noted in his 2015 report that the National Assembly account was spent N8,800,000.00 as an unauthorised overdraft, contrary to Financial Regulations 710. The National Assembly also reportedly spent N115,947,016.00 without any documents. Another N158,193,066.00 spent as cash advances to 17 staff between January and June 2015 is yet to be retired.”
“The Senate reportedly spent N186,866,183.42 to organise Senate Retreat and Pre-Valedictory Session for the 7th Senate, although the money was meant to pay vehicle loan. The Senate also reportedly spent N15,964,193.63 as bank charges between July and December 2015, contrary to Financial Regulations 734.
“The House of Representatives also reportedly spent N624,377,503.30 to buy 48 Utility Vehicles. However, 14 vehicles were not supplied. The House also failed to make the 34 vehicles supplied available for verification. Similarly, the House spent N499,666,666.00 as cash advances to staff to carry out various assignments but has failed to retire the money.
“The House of Representatives also reportedly paid N70,560,000.00 as overtime and ‘special’ allowances to officials who are not legislative aides between November and December 2015 without any authority.
“The National Assembly Service Commission reportedly failed to remit N30,130,794.10 deducted from the salaries of the Executive Chairman and the Commissioners as car loan.
“The National Assembly Budget and Research Office reportedly spent N66,303,411.70 as out-of-pocket expenses without any documents. The National Institute for Legislative and Democratic Studies paid N246,256,060.51 by cheques, despite the prohibition of payments by cheque by the Federal Government, except in extreme cases, and contrary to Financial Regulation 631.
“According to the Auditor-General Report for 2017, the House of Representatives reportedly spent N95,212,250.00 without due process and without any documents. The National Assembly Management Account also reveals that N673,081,242.14 was spent between April and October 2017 without any documents. The Auditor-General reported that the funds may have been misappropriated.
“The Senate Account also reportedly shows that N1,364,816,397.95 was spent on store items without any documents to show for the spending. The Auditor-General stated that his office was denied access to the store and to the Senate’s records.
“The National Institute for Legislative and Democratic Studies also reportedly failed to remit N2,181,696.50 from a contract of goods and services. The Institute also paid N67,296,478.00 without any payment vouchers.”
Business Post understands that no date has been fixed for the hearing of the suit.
By Modupe Gbadeyanka
The Media and External Relations Lead of United Bank for Africa (UBA) Plc, Mr Abiodun Coker, has been crowned the Future Leader in Media Management.
He clinched this award at The Industry Summit/Awards held on Friday, May 2, 2025, in Lagos, with several persons from across all sectors in attendance.
Mr Coker’s recognition further cements his growing reputation as one of Nigeria’s most dynamic and future-ready communications leaders, with his eyes firmly set on redefining the media management landscape.
The award jury, chaired by Mr Tolulope Ogunjobi, a renowned broadcast business correspondent and Business Editor at TVC News, said Mr Coker was bestowed with the honour because of his exceptional achievements in the public relations field during the year 2024.
The team said one of them was his masterful handling of UBA’s 2024 rights issue, which successfully closed on December 24, 2024, and the impactful execution of the bank’s 75th Anniversary Campaign, both of which were described as commendable and exceptional.
According to the jury, his management of UBA’s media ecosystem during the year under review was remarkable, with several media professionals praising his public relations craftsmanship and ability to skilfully manage the image of one of Africa’s most formidable financial brands.
“Abiodun Coker’s achievements in 2024 are a beacon for greater accomplishments ahead. He is undoubtedly one of the strategic communication experts to watch in 2025,” the jury noted.
A seasoned professional, Mr Coker’s journey from an acclaimed financial journalist at BusinessDay Newspapers to a powerhouse in corporate communications has been nothing short of inspiring.
With over eight years of robust journalism experience, coupled with leadership roles at top-tier public relations firms such as BD Consult Ltd and Quadrant, he has consistently demonstrated his ability to transform and manage leading brands successfully.
Organized by The Industry Newspaper, the leading brand marketing publication in West Africa, the prestigious awards recognize outstanding professionals shaping the future of brand marketing and communications across the region.
By Adedapo Adesanya
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has reiterated the federal government’s commitment to fostering a more enabling investment climate, anchored on macroeconomic stability, structural reform, and a clear pathway to inclusive prosperity.
He gave this assurance at a high-level private dinner, organized by Kuramo Capital Management Lagos as part of Africa Venture Capital Week.
The Minister lauded Kuramo Capital and its partners for their steadfast belief in Africa’s promise and highlighted the alignment between private capital and Nigeria’s renewed hope reform agenda.
According to a statement, participants recognized the vital role of blended finance and innovation in driving sustainable development.
The event brought together a distinguished group of global investors, development partners, and business leaders for a candid exchange on unlocking long-term capital for Africa’s growth and transformation.
It also marks Kuramo Capital’s first formal convening in Nigeria in several years, underscoring a renewed sense of commitment to deepening its strategic footprint across the continent.
Mr Edun said with this renewed commitment, the federal government is poised to unlock new opportunities for economic growth, investment, and inclusive prosperity.
He also called for more investment into the country, assuring participants that the right mechanisms are being put in place towards driving Nigeria’s development and improving the lives of its citizens.
By Adedapo Adesanya
The federal government is fast-tracking the implementation phase of its economic and financial inclusion strategy aimed at improving access to economic opportunities for Nigerians.
This was disclosed by the Deputy Chief of Staff to the President, Mr Ibrahim Hadejia, at the inaugural meeting of the Technical Committee of the Presidential Committee on Economic and Financial Inclusion (PreCEFI).
He said that “Financial inclusion is not just about having a bank account—it means access to quality services, credit, and the visibility that digital platforms offer.”
The meeting was held at the Presidential Villa, Abuja, on Wednesday.
The federal government established an inter-agency task force to address challenges delaying President Bola Tinubu’s approved conditional cash transfers to 15 million vulnerable households.
The task force includes the National Identity Management Commission (NIMC), National Social Safety-Nets Coordinating Office, National Cash Transfer Office (NCTO), Central Bank of Nigeria (CBN) and Nigeria Inter-Bank Settlement System (NIBSS).
The mandate of the taskforce goal is to unlock bottlenecks and fast-track the distribution of critical financial support to Nigeria’s most vulnerable.
The meeting also endorsed steps to work with state governments in localising data from the Enhancing Financial Innovation and Access in Nigeria (EFInA) Access to Financial Services survey – a biennial study conducted by the EFInA.
Mr Hadejia explained that the meeting brought together high-level stakeholders from government agencies, financial institutions, and academia to align on the President’s vision and execution roadmap.
“We are off to a very good start. What has led to the success of what we’ve done so far is alignment and inclusive stakeholder engagement,” he said.
On hsi part, the committee’s Secretary, Mr Nurudeen Zauro, said the meeting also approved PreCEFI’s strategic roadmap and governance structure.
Mr Zauro, who is also the Technical Advisor to the President on Financial Inclusion, said ” an inter-agency committee has been established to address delays in the disbursement of conditional cash transfers to 15 million households as mandated by President Tinubu.
“We will be presenting the report to the National Economic Council and the Nigerian Governors Forum to ensure data is domesticated and acted upon at the subnational level.”
Also, Director-General of NIMC, Mrs Abisoye Coker-Odusote, explained that digital identity plays a foundational role in achieving inclusion goals.
“The beauty of the NIN is that it bridges the financial divide. It provides access to health, education, and agricultural services and strengthens national data infrastructure,” she said.
The Director of Consumer Protection and Financial Inclusion at the CBN, Mrs Aisha Isa-Olatinwo, urged the committee to focus on implementable outcomes that serve those at the base of the pyramid.
According to her, financial inclusion is one of the eight reform pillars of the President’s agenda.
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