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
Nigeria’s Vice President, Mr Kashim Shettima, will run as the vice-presidential candidate of the All Progressives Congress (APC) in the 2027 presidential election.
President Bola Tinubu retained Mr Shettima as his running mate for re-election next year, according to the National Chairman of the APC, Mr Nentawe Yilwatda.
In a post on Friday on X, the ruling party chairman described this as “another significant milestone in the journey of our great party.”
He also said it reaffirms the party’s collective resolve to sustain the Renewed Hope Agenda and deepen the progress already being recorded across the country.
It was gathered that Mr Tinubu submitted his presidential nomination forms today through his Special Adviser on Political and Other Matters, Mr Ibrahim Masari.
The submission was done ceremony at the Continental Hotel, Abuja, attended by several party chieftains, including The event brought together an impressive array of leaders of our great party, including the Chairman of the Progressive Governors’ Forum and Governor of Imo State, Mr Hope Uzodimma; Governor Mai Mala Buni of Yobe State, Governor Nasir Idris of Kebbi State, Governor Abba Kabir Yusuf of Kano State, Governor Uba Sani of Kaduna State, Governor Babagana Umara Zulum of Borno State, Governor Ahmadu Umaru Fintiri of Adamawa State, as well as other governors, party executives and critical stakeholders from across the federation.
“The All Progressives Congress remains focused on strengthening its grassroots support, consolidating the achievements of the Renewed Hope Agenda and working together to build a more prosperous, secure and inclusive Nigeria for all,” the party leader stated.
By Adedapo Adesanya
The pupils and teachers abducted in Oriire Local Government Area of Oyo State have regained their freedom after 56 days in captivity.
The development was disclosed on Friday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, on X. He revealed that eight of the kidnappers have been arrested and are now in the custody of the Department of State Services (DSS), while some others were neutralised during the operation.
“Finally, all the kidnapped pupils and teachers in Oriire, Oyo have been rescued by our security agencies,” he wrote.
He said no concession was made to the terrorists to secure the freedom of the abducted pupils and teachers.
Mr Onanuga explained that the kingpin whose release the kidnappers had demanded was neither freed nor spared, as he remains under prosecution for offences linked to his terrorist activities.
The abductions occurred on May 15, 2026, when armed men attacked three schools: Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School, in the Esiele and Yawota communities of Oriire Local Government Area.
No fewer than 39 pupils and seven teachers, including a principal, were taken during the attacks. During the attack, a teacher, Mr Joel Adesiyan, was killed while attempting to escape.
Another teacher, Mr Michael Oyedokun, was reportedly beheaded in the kidnappers’ den.
The terrorists holding the victims had reportedly made a four-point demand before agreeing to free the captives, including the release of detained terrorist commanders, payment of ransom, two Hilux vehicles and the implementation of Sharia-related law.
The Oyo State Government had consistently maintained that no ransom would be paid to secure the release of any victims.
The Nigeria Union of Teachers (NUT) embarked on a month-long strike in the state to press for the victims’ rescue before suspending the action in July.
It also drew federal intervention, with military and police authorities repeatedly assuring Nigerians that operations to secure the victims’ freedom were ongoing.
The President’s spokesperson said that security agencies would soon provide a comprehensive account of the operation.
By Adedapo Adesanya
The board of the ECOWAS Bank for Investment and Development (EBID) has approved a $260 million financing package for the construction of a 123-kilometre section of the Trans-Saharan Highway in Nigeria as part of more than $417 million earmarked for strategic projects across West Africa.
The approval was granted during the bank’s 99th Ordinary Session, chaired by its President, Mr George Donkor, according to a statement issued after the meeting. It was noted that the total financing will support five public and private sector projects spanning infrastructure, healthcare, housing, mining, financial resilience and regional connectivity.
EBID said the approved investments underscore its commitment to funding high-impact projects that drive economic growth, create jobs and improve living standards across the sub-region.
“The projects approved during this 99th Board Session demonstrate EBID’s unwavering commitment to financing development solutions that directly improve the lives of West African citizens.
“From clean energy and transport infrastructure to healthcare, housing and financial sector resilience, these investments will strengthen regional competitiveness and support sustainable and inclusive growth across our community,” said Mr Donkor.
That of Nigeria is to improve connectivity, facilitate trade, reduce logistics costs and support economic integration; West African CFA franc (XOF) 10 billion in a line of credit to Banque de l’Habitat de Côte d’Ivoire (BHCI) to expand housing finance and support SMEs operating across the housing and construction value chain; €80 million for the design, construction, equipment and maintenance of the 150-bed Regional Hospital of Ferkessédougou in Côte d’Ivoire under a public-private partnership;
XOF 12.82 billion (West African CFA Franc) for the renovation, operation and maintenance of the Symphonie Building in Abidjan under a public-private partnership and $47.4 million for Azumah Resources Ghana Limited to finance the procurement of long-lead process plant equipment and critical early-stage development activities for the Black Volta Gold Project.
“These approvals advance EBID’s Growth, Resilience and Optimisation (GRO) Strategy, which prioritises transformative infrastructure, human capital development, private sector growth and regional integration. Through these investments, the Bank continues to promote sustainable development and shared prosperity across West Africa,” the statement said.
