General
SERAP Tasks Presidential Candidates to Publish Campaign Funding Sources
By Adedapo Adesanya
Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to presidential candidates to publish the source of their campaign funding ahead of the February 2023 presidential election.
The body urged them to demonstrate leadership by directing their “campaign councils and political parties to regularly and widely publish the sources of their campaign funding.”
SERAP said: “We are concerned about the vulnerability of political parties to corruption. Disproportionally large donations seeking specific outcomes or preferential treatment can subvert the wider public interest.”
In the open letter dated October 29, 2022, and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation said: “Transparency would help to control inappropriate influence on political candidates, ensure fairness, equality, and accountability in Nigeria’s democracy.”
SERAP also said, “Transparency in campaign funding would improve public trust in Nigeria’s politicians and political parties, and show your commitment to prevent and combat corruption if elected.”
According to SERAP, “If Nigerians know where the money is coming from, they can scrutinise the details and hold to account the candidate and party that receive it.”
“SERAP would consider appropriate legal actions to hold you and your political party to account for any infractions of the requirements of campaign funding, as provided for by the Nigerian Constitution 1999 [as amended], the Electoral Act and international standards, even after the 2023 elections.
“SERAP urges you to sign ‘transparency pacts’ that would mandate you to disclose the identities of donors and widely publish donations and contributions on your party website and social media platforms.
“Party corruption undermines the legitimacy of government, public trust and, ultimately, democracy.
“Opacity in campaign funding can distort the electoral competition and lead to state capture by wealthy politicians and individuals, and encourage politicians to divert public resources for political purposes.
“Transparency in campaign funding would ensure fair and open elections and address concerns about undue influence by the more economically advantaged and privileged individuals, as well as prevent corruption of the electoral process.
“Political parties provide the necessary link between voters and government. No other context is as important to democracy than elections to public office. Nigerians, therefore, must be informed about the sources of campaign funding of those who seek their votes.
“SERAP also urges you to urgently invite the Independent National Electoral Commission (INEC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) to monitor campaign funding and expenditures by your political party.
“The UN Convention against Corruption, to which Nigeria is a state party, obligates states parties to enhance transparency in the funding of candidates for elected public office and, where applicable, the funding of political parties.
“Similarly, the African Union Convention on Preventing and Combating Corruption which Nigeria has also ratified requires states parties to incorporate the principle of transparency into the funding of political parties.
“Sections 225 and 226 of the Nigerian Constitution and Sections 86, 87 and 90 of the Electoral Act 2022 demonstrate the importance of transparency and accountability in party and campaign finances and why political parties must be proactive in disclosing the sources of their donations and contributions, and how they spend the funds they receive.
“Please let us know if you and your political party are willing to commit to the issues outlined in this letter,” the letter read in part.
Presidential candidates for Nigeria’s general elections in 2023 include Mr Atiku Abubakar of Peoples’ Democratic Party (PDP); Mr Bola Tinubu of All Progressive Congress (APC); Mr Peter Obi of Labour Party (LP); Mr Rabiu Musa Kwankwaso of New Nigeria Peoples Party (NNPP); and Mr Peter Umeadi of All Progressive Grand Alliance (APGA).
Others include Mr Malik Ado-Ibrahim of the Young Progressive Party (YPP); Mr Omoyele Sowore of Africa Action Congress (AAC); Mr Adewole Adebayo of Social Democratic Party (SDP); Mr Kola Abiola of Peoples Redemption Party (PRP); Mr Christopher Imumulen of Accord Party (AP); Mr Dumebi Kachikwu of African Democratic Congress (ADC); and Mr Yusuf Mamman Dan Talle of Allied Peoples Movement (APM) among others.
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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