General
SERAP Demands Accountability Over N302bn Rivers Funds Under Emergency Rule
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has demanded transparency and accountability regarding the six-month administration of the Rivers State sole administrator, Mr Ibok-Ete Ibas.
The group has asked questions regarding an alleged spending of over N302 billion received from the Federation Account Allocation Committee (FAAC) during the period. Rivers State was under an emergency rule from March to September 2025.
In a Sunday statement published on its official website, the group disclosed that the Rivers State Accountant-General and the Ministry of Budget and Economic Planning told the Rivers State High Court sitting in Port Harcourt how Mr Ibas allegedly spent over N302 billion received from the FAAC between March and August 2025.
The statement signed by SERAP deputy director, Mr Kolawole Oluwadare, disclosed that the allegation was contained in a lawsuit titled Freedom of Information, with suit number PHC/4153/CS/2025.
Mr Oludare further disclosed that the lawsuit was filed by SERAP on October 31, 2025, against the Accountant-General of Rivers State and Rivers State Ministry of Budget and Economic Planning, and is pending before Justice S.H. Aprioku of the Rivers State High Court.
In the counter-affidavit dated March 10, 2026 and filed in response to SERAP’s lawsuit, the Accountant-General and the Ministry of Budget and Economic Planning stated that “the FAAC allocations received by Rivers state between March and August 2025 were over N253 billion (N253,480,052,907.33)”
According to SERAP, Exhibit DT1, which is the bank statements, and Exhibit DT2, which is the capital pages of the Government House estimate, filed in support of the counter-affidavit and comprising 49 pages, provide some details of government expenditures exceeding N300 billion, including FAAC allocations and other funds.
The counter-affidavit, read in part, “Our records show that N28 billion was approved for the installation of Closed Circuit Television (CCTV) at the State House, but no expenditure was incurred in respect of the project. Therefore, no document evidencing such expenditure can be provided.”
“The Defendants/Respondents do not contest SERAP’s right to access information under the Freedom of Information Act and have no intention whatsoever of withholding the requested documents.”
“The Defendants/Respondents have now compiled and made available the requested information in accordance with the provisions of the Freedom of Information Act, and copies are herein attached as Exhibit DTI (bank statements) and Exhibit DT2 (capital pages of the Government House estimate).”
“By furnishing the documents requested, the Defendants/Respondents have substantially complied with SERAP’s demand.”
“While the Defendants/Respondents recognise the public interest in transparency and accountability, the delay in providing the requested information did not occasion any specific or proven injury to SERAP.”
According to the group, Rivers State received FAAC inflows of over N253.48 billion (N253,480,052,907.33) and other receipts totalling over N44.87 billion (N44,868,976,368.32) from March to August 2025, bringing the total funds received to approximately N298.35 billion (N298,349,029,275.65).”
“The two exhibits also show transfers to government entities, payments to individuals (NIP transfers), and repeated transfers to Government House during the period from March to August 2025. In total, over N302.35 billion was shown to have been spent during this period.”
“The exhibits reveal multiple payments to Government House ranging from N1.8 million to N4.27 billion, including transactions of N61.9 million, N122 million, N170 million, N389 million, N750 million, N850 million, and N900 million—with the N900 million payments occurring repeatedly. Notably, a single transfer of N4.27 billion was recorded in August.”
“Over N112.41 billion (N112,408,021,641.07) was reportedly spent on salaries, pensions, and overheads, while N163.44 billion (N163,441,654,922.70) was allocated to ministries, departments, and agencies (MDAs).”
“Over N106 billion of the N163.44 billion allocated to MDAs was disbursed in August alone, showing a significant concentration of spending within a single month.”
“Additionally, over N26.01 billion (N26,011,189,540.73) was reportedly spent to service loans, while over N491.59 million (N491,592,418.57) was spent on bank charges, bringing these to approximately N26.50 billion (N26,502,781,959.30) during the same period.”
“Over N2.5 billion was released for the construction of Government House quarters, but only about N1.1 billion is reflected in the exhibits as actual spending. The exhibits show a revised allocation of N2.67 billion for office building repairs, while about N404 million was spent.”
“N350 million is stated to be allocated for canteen and kitchen equipment. It is unclear from the exhibits how much was released for the project. Over N463 million was shown to be spent on rehabilitation projects. A project initially budgeted at N800 million appeared to be increased to N1.56 billion.”
“The closing balance in the account as at August 2025 was N19,929,707,462.66.”
In the lawsuit, SERAP is seeking the determination of the following question, “Whether, having regard to the combined provisions of Sections 13, 15(5), 16(2), and 39 of the Nigerian Constitution 1999 (as amended) and Sections 1(1), 2(3)(d)(v), 2(4), and 4(a) of the Freedom of Information Act, 2011, SERAP is not entitled to access and obtain the information sought from the Defendants/Respondents.”
The lawsuit has been adjourned to May 19, 2026, for further hearing.
By Dipo Olowookere
The ex-depot prices of two major petroleum products, Premium Motor Spirit (PMS), otherwise known as petrol, and Automotive Gas Oil (AGO), also known as diesel, have been slashed by Dangote Petroleum Refinery and Petrochemicals.
The company announced the reduction in prices of the products in a statement on Saturday evening.
The Lagos-based private refinery said its latest action was to reinforce its commitment to making refined petroleum products more affordable and supporting economic activities across Nigeria.
The cut in the prices of petrol and diesel by Dangote refinery comes as the global crude oil prices continue to moderate, amid expectations that the United States of America and Iran will agree on a ceasefire very soon and reopen the Strait of Hormuz.
This narrow vessel passage accounts for 20 per cent of the world’s crude oil consumption. It has been closed for more than two months because of the Middle East crisis.
On February 28, 2026, America and Israel launched airstrikes in Iran, killing its Supreme Leader and other top government officials.
Iran fought back by attacking US bases in the Middle East, including in Saudi Arabia, Qatar, the United Arab Emirates and others. It also shut down the Strait of Hormuz, causing the price of oil to almost hit $120 per barrel.
The crisis faraway in the Middle East, rather than becoming a blessing to Nigeria, put citizens under untold hardship, as the price of petroleum products, especially PMS, jumped from around N800 per litre to almost N1,500 per litre.
On Friday, the price of Brent crude was about $94 per barrel, while the West Texas Intermediate (WTI) crude was about $89 per barrel.
Ostensibly in response to this, the Dangote refinery has reduced the ex-depot price of petrol to N1,250 per litre from N1,275 per litre, while the price of diesel has been cut to N1,700 per litre from N1,800 per litre.
Since commencing operations, the 650,000 barrels per day refinery has increasingly supplied the domestic market with refined products aimed at eliminating the country’s dependence on imported fuels.
The company claimed it decided to slash the price to improve supply efficiency, deepen domestic refining, and provide cost relief to consumers and businesses that depend heavily on petroleum products for transportation, power generation and industrial operations.
By Adedapo Adesanya
The National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), the umbrella body of customs agents in Nigeria, has petitioned President Bola Tinubu to compel the Nigerian Shippers’ Council (NSC) to suspend the planned increase in shipping charges pending the review by the standing committee.
According to Mr Lucky Amiwero, the president of the body, in a letter to the President, the increase is a clear contravention of the Memorandum of Understanding (MOU) signed in respect of local shipping charges between providers and users of shipping/Port and related service approved by the federal government.
The MoU under Articles 2(b)&4 clearly states that any other charges shall require agreement between the Parties concerned through the Nigerian Shippers Council, which must be complied with.
“In line with the provisions of Articles 2 and 4 of the Memorandum of Understanding, there is a need to follow the prescribed procedure as contained in the MOU. First is by submitting the information of the increase to the standing committee, including the detailed information, why the increase, and the percentage, to the standing committee for consideration and review of any increase
“We hereby request the suspension of any Local Shipping Charges increase, pending the review by the standing committee, which entails the detailed information of the increase, the Percentage (%), and if the Increase is necessary, to be sent to the standing Committee as approved by the Federal Government,” he said.
The official said the NSC were supposed to forward all detailed information on the increase in the local shipping charges to the standing committee, who are signatory to the MOU, and then to review in line with the approved federal government directive.
“We refer the government to the usual procedure of initiating an increase in local shipping charges. Notification of increase as proposed is always forwarded to the standing committee, reference 2003 NSC/TOD/FPS/011/VOL.V/54 OF 20TH JUNE, and NSC/TOD/FPS/011/VOL.35 OF 14TH April 2003 in line with article 2(b)&4 of the MOU.
“In line with Article 2(b)&4 of the memorandum of understanding, the request made by Shipping Association of Nigeria (SAN), which was forwarded to the Shippers Council and the Shippers Council forwarded the same to the technical standing committee for review,” he added.
By Adedapo Adesanya
The presidency has raised alarm over what it described as a growing pattern of digitally manipulated content aimed at exploiting religious sentiments for political purposes.
In a public service announcement issued by the Office of Digital Engagement and Strategy, it was disclosed that “deliberate attempts” to mislead Nigerians through deep fake videos and false narratives across online platforms had been identified.
According to the statement, a manipulated video surfaced on Tuesday, featuring altered audio and false attributions designed to portray President Bola Tinubu in a negative light.
It noted that a similar attempt followed shortly after, involving a fabricated video linked to a religious leader, allegedly intended to incite Muslim communities against the President.
The presidency said the recurring pattern suggests a coordinated effort to inflame religious tensions and sow division, particularly as political activities begin to intensify ahead of future elections.
It warned that “desperate actors” are likely to continue deploying misinformation tactics, including distorting religious messages, manipulating context, and spreading provocative content through social media and messaging platforms.
The presidency urged Nigerians to exercise caution before sharing sensitive or inflammatory content, encouraging citizens to question the motives behind such materials and to verify information through credible sources.
Describing the trend as “coordinated manipulation at scale,” it stressed that such actions are neither patriotic nor reflective of genuine political engagement.
The statement further warned that individuals and groups involved in the creation and dissemination of false information would be held accountable under relevant Nigerian laws, including those relating to cybercrime, incitement, and threats to public peace and national security.
It concluded by calling on citizens to remain vigilant and united in safeguarding the country’s social cohesion against digital disinformation.
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