General
SERAP Begs Buhari to Probe N17b Bribe Payment for 2015 Budget
By Modupe Gbadeyanka
A passionate appeal has been made to President Muhammadu Buhari to use his good office to investigate and prosecute beneficiaries of the N17 billion allegedly paid by the last administration to the National Assembly to enable them pass the 2015 Appropriation Bill.
In an open letter to the President, a group known as Socio-Economic Rights and Accountability Project, (SERAP) want the matter to be looked into.
In the letter, SERAP wants Mr Buhari to “direct the Attorney General of the Federation and Minister of Justice Abubakar Malami, SAN, and/or appropriate anti-corruption agencies to without delay investigate the alleged payment of N17 billion to the National Assembly as ‘election expenses’ of its members to pass the 2015 budget, and if there is relevant and sufficient admissible evidence, prosecute anyone suspected to be involved.”
In her book, former Minister of Finance, Mrs Ngozi Okonjo-Iweala, had said the last government bribed the parliament to pass the budget in 2015.
“N17 billion was forced into the budget for election expenses of members of the National Assembly with the agreement of its leadership. The funds became the price to pay to have the 2015 budget passed,” she had disclosed on page 80 of her book titled ‘Fighting Corruption is Dangerous.’
As a result of this disclosure, SERAP, in its letter, urged the president to “instruct the Attorney General and/or appropriate anti-corruption agencies to publish the report of any such investigation including the names of anyone that may have benefited from the public funds, and to ensure the recovery of proceeds of corruption.”
The group warned that it would “institute legal proceedings to compel your government to act in the public interest if these steps are not taken within 14 days of the receipt and/or publication of this letter.”
According to the letter dated June 1, 2018 and signed by SERAP deputy director, Mr Timothy Adewale, the organization said, “The allegation of budgeting N17 billion as election expenses of lawmakers suggests a fundamental breach of article 15 of the UN Convention against Corruption, which Nigeria has ratified. Using public funds as election expenses of lawmakers is contrary to the convention, which prohibits bribery and requires the authorities to ensure proper management of public affairs and public funds.”
SERAP noted that, “The illicit or improper nature of the election expenses is buttressed by the fact that the election of any lawmaker is a ‘benefit’ to him/her and not a matter of public interest or legitimate public spending, and implicitly amount to an abuse of legislative powers for private gain.”
“Allowing lawmakers to enjoy illicit benefits is an arbitrary or unjust exercise of executive functions. Facilitating N17 billion as election expenses has undercut access of millions of Nigerians to public services, as the funds could have been legitimately spent on services such as health, education, electricity supply or public transportation that those with few resources are dependent upon,” it added.
The statement read in part: “The required elements of the offence of bribery are those of promising, offering or giving something to a public official, such as the alleged N17 billion for election expenses of lawmakers. The allegation that the members of the executive allowed the National Assembly to have their way on the N17 billion also suggests giving the lawmakers an undue advantage to get the 2015 budget passed. The undue advantage or bribe also seemed linked to the official duties of lawmakers to induce the passing of the budget.”
“SERAP notes that the alleged N17 billion bribe has increased attention to the growing lack of transparency and accountability of the National Assembly, and the corresponding loss of trust and faith by Nigerians in the budgeting process and disillusionment in their lawmakers.”
“Investigating the allegation, identifying those suspected to be involved and ensuring that they are promptly brought to justice as well as ensuring recovery of any proceeds of corruption would help address the crisis of integrity in the National Assembly and contribute to improving public trust as well as promote access of Nigerians to an honest public service.”
“The ultimate object of any government is to promote good governance and the greatest happiness of the greatest number. This means stopping arbitrariness in the budgeting process, and in the use of public funds as well as replacing privilege with transparency and accountability that characterize a democratic society.”
“SERAP is concerned that the allegation of budgeting N17 billion for election expenses of lawmakers if proven would amount to gross violations of law, abuse of power, and bribery, and indeed, undermining the law-making and budgeting process. We urge your government to use this case as an opportunity to demonstrate its willingness to comprehensively address the endemic flaws and corruption in the budgeting process.”
“We note that the Attorney General is a defender of public interest and has the powers under Section 174(1) of the Constitution of Nigeria 1999 (as amended), to institute and undertake criminal proceedings against anyone suspected to be responsible for acts of corruption.”
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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