Connect with us

General

SERAP Sues CBN Over Missing N100bn Dirty Notes

Published

on

CBN Ways and Means

By Adedapo Adesanya

The Socio-Economic Rights and Accountability Project (SERAP) has approached the Federal High Court in Lagos for an order to compel the Central Bank of Nigeria (CBN) to explain the whereabouts of the over N100 billion dirty and bad notes kept in its various branches since 2017.

This comes after it asked the apex bank to account for the dirty and bad notes as well as other large sums of cash awaiting examination in the vaults of the apex bank.

In a statement issued on Sunday, Mr Kolawole Oluwadare, the Deputy Director of SERAP, criticized the apex bank for not providing information about the location of the mentioned amount.

SERAP also wants the court to “direct and compel the CBN to explain the whereabouts of the N7.2 billion meant for the construction of the CBN Dutse branch building in 2010 and the N4.8 billion meant for the renovation of the CBN Abeokuta branch in 2009 and to publish the names of contractors who collected the money.”

It also wants the court to “direct and compel the CBN to explain the whereabouts of the allegedly missing outstanding loan of N1.2 billion granted to the Enugu State government in 2015 and the outstanding loan of N1.9bn granted to the Anambra state government between 2015 and 2016.”

In the suit, SERAP is arguing that “Explaining the whereabouts of the missing public funds, publishing the names of those suspected to be responsible and ensuring that they are brought to justice and the full recovery of any missing public funds would serve the public interest and end the impunity of perpetrators.”

The suit filed on behalf of SERAP by its lawyers Mr Oluwadare and Mrs Adelanke Aremo, also said, “Nigerians have the right to know the whereabouts of the public funds. Granting the reliefs sought would advance the right of Nigerians to restitution, compensation and guarantee of non-repetition.”

“Paragraph 708 of the Financial Regulations 2009 provides that, ‘on no account should payment be made for services not yet performed or for goods not yet supplied.’

“Section 35(2) of the Public Procurement Act 2007 provides that, ‘once a mobilization fee has been paid to any supplier or contractor, no further payment shall be made to the supplier or contractor without an interim performance certificate,” it added.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

General

Makinde to Install Ladoja 44th Olubadan September 26

Published

on

rashidi ladoja

By Modupe Gbadeyanka

A former Governor of Oyo State, Mr Rashidi Ladoja, will be installed as the 44th Olubadan of Ibadanland on Friday, September 26, 2025, at Mapo Hall.

This followed the approval of the Olubadan-designate by Governor Seyi Makinde, after his nomination by the ancient town’s kingmakers.

The throne became vacant following the demise of Oba Owolabi Olakulehin on Monday, July 7, 2025, at the age of 90.

The former occupier of the seat passed on less than a week to the one-year anniversary to the ascension of the Olubadan throne.

According to reports, Mr Ladoja held talks with the kingmakers at his residence in Ibadan on Tuesday and today, he was with some officials of the state government and other members of the Olubadan-In-Council.

Continue Reading

General

Anambra Condemns Attack on NYSC Member, Assures of Justice

Published

on

Soludo Anambra

By Adedapo Adesanya

The Anambra State Government has condemned the attack on a member of the National Youth Service Corps (NYSC) who was assaulted and harassed by members of Operation Udo Ga-Achi in Obá, Idemili South Local Government Area of Anambra State, promising to carry out justice.

The state government said it was appalled by the disturbing video being circulated online and strongly condemned this act of violence and harassment.

According to the state’s Commissioner for Information, Mr Law Mefor, the government maintains that the Anambra security outfits, Agunechemba and Operation Udo Ga-Achi, were a child of necessity established by the Anambra Homeland Security Law 2025 to maintain law and order.

He said the government was swift in arresting and questioning the offenders long before the rather unfortunate video was released.

Mr Mefor added that the offenders have been suspended from operations pending investigation and disciplinary action.

“We have collaborated with the Police to ensure a thorough investigation and complete dispensation of justice. The victim’s medical needs have been attended to, and we have committed to providing all other necessary support,” he stated, adding that the outfit was not meant to perpetrate violence and intimidation, and equally noted that the two security outfits have commendably maintained law and order in the state since their introduction on January 18, 2025.

“Therefore, any form of assault perpetrated by any member of the security outfits is outside their code of conduct, and all those involved, particularly in the incident under reference, will face the full weight of the law.

“The government wishes to reassure members of the public, particularly Youth Corps members in Anambra for their national service, that they have nothing to fear from the State’s security outfits – Agunechemba and Operation Udo Ga-Achi – and should go about their lawful activities without fear.

“The government wishes to appreciate the steps taken by the police and Operation Udo Ga-Achi so far by arresting those involved in the assault and urges the victims to cooperate with the police and the leadership of Operation Udo Ga-Achi to ensure speedy dispensation of justice on the matter.”

The Commissioner noted that the state remains one of the country’s most hospitable and secure states, as he promised that the government would take all necessary actions to prevent such incidents in the future.

Continue Reading

General

Moniepoint’s Documentary on Nigeria’s Food Industry Supply Chain Excites FG, Others

Published

on

moniepoint inside nigeria's food chain

By Modupe Gbadeyanka

Prominent financial technology (fintech) company, Moniepoint Incorporated, has been given a pat on the back for its 12-minute documentary exploring Nigeria’s food industry supply chain.

The piece focused on the Northeast region, particularly Borno State, highlighting how cultivation and distribution processes connect local farmers to the broader national market.

A key finding from the case study showed that the informal, trust-based networks that power Nigeria’s food chain are not a weakness to be formalized, but a strategic asset to be strengthened. These networks, built on generational knowledge and social capital, have proven more durable and adaptable in crisis than formal institutions.

At the private screening of the documentary titled Inside Nigeria’s Food Chain in Abuja recenrly, the Special Adviser to the President on Economic Affairs in the Office of the Vice President, Mr Tope Fasua, who was among the few guests at the event, said Moniepoint has done well to showcase the resilience of the region’s agricultural value chain and empowering smallholder farmers through innovative digital payment solutions.

The economist said he was impressed that the work captured how digital financial services are driving economic inclusion among rural communities traditionally not associated with technology adoption, even amid ongoing security challenges and cost-of-living pressures across the country.

“I am happy and thrilled at the many things that this documentary and case study captures. It’s an eye opener for people to be able to see all of the operations going on. I have first-hand experience at how Moniepoint is changing the market dynamics for good.

“It was heartwarming to see the economic and financial inclusion x-rayed in the video with a lot of digitization going on at the level with people who you’d not associate with technology adoption,” Mr Fasua stated.

Furthermore he noted that in spite of the challenges with insecurity in the country, “We can see the resilience that our people have demonstrated in churning out grains, livestock and agric produces.

“This work has also shown that our people are embracing modern and subsistence level farming. On the financial inclusion front, it is delightful to watch the confidence that the people have in digital payments and Moniepoint has done a fantastic job in deepening adoption across the country.”

Speaking to the rationale behind the screening and case study and responding to questions from guests, the Vice President for Corporate Affairs at Moniepoint, Ms Edidiong Uwemakpan, noted the project is about real people and real impact.

“In view of the amounts that we process monthly as a business, we sought to peel back the layers on the naira and kobo and uncover the stories behind the transactions and what they mean for Nigeria.

“Moniepoint as a Nigerian company has been able to achieve such impact by adopting hyperlocal support to build trust with its users tailoring our services to fit the existing lifestyle and trading habits of Nigerians,” Ms Uwemakpan said.

She noted that Borno State had often been defined by negative narratives overshadowing its strengths. Therefore, the documentary does not only focus on showcasing Moniepoint’s role in supporting food distribution but also reveal the state’s agricultural diversity, which contributes significantly to feeding millions of Nigerians.

Aligning with these thoughts, a communications expert, Mr Tolu Ogunlesi, expressed his excitement and commended Moniepoint for telling this story – not just because of what it says about food but what it says about our resilience and the country as a whole.

“Watching the documentary, a lot of the towns mentioned became famous not for food but as Boko Haram affected regions. This project allows us to truly appreciate these areas for what they really contribute to the country’s socio-economic development and what they should actually be famous for. This is a part of Nigeria that has been traumatized by insecurity but they have demonstrated remarkable resilience such that when people sit in their homes and they are eating, they are reminded that some of these products come from the North East,” he said.

Continue Reading

Trending