The government of President Bola Tinubu has been sued over failure to publish spending details of the loans obtained by the governments of former presidents since the return to democracy in 1999.

The suit was filed against the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Debt Management Office (DMO) by Socio-Economic Rights and Accountability Project (SERAP).

In the suit number FHC/L/CS/353/2024 filed last Friday at the Federal High Court, Lagos, SERAP is asking the court to direct and compel Tinubu’s government to publish the loan agreements obtained by the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari.

Aside publishing the spending details of any such loans, the organisation is also asking the court to direct and compel the government to include the interests and other payments so far made on the loans.

According to SERAP, publishing the spending details of such loans will help to explain why, despite several billions of dollars in loans obtained by successive governments, millions of Nigerians continue to face extreme poverty and lack access to basic public goods and services.

The organisation is argues that accountability of government to the general public is a hallmark of democratic governance, which Nigeria seeks to achieve.

The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Andrew Nwankwo, read in part: “Publishing the loan agreements would improve public accountability in ministries, departments and agencies (MDAs).”

“Nigerians are entitled to information about what their government is doing in their name. This is part of their right to information.”

“Publishing the agreements and spending details would allow the public to see how and on what these governments spent the loans and foster transparency and accountability.”

“Publishing the loan agreements signed by the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari, and widely publishing the agreements would allow Nigerians to scrutinise it and to demand accountability for the spending of the loans.”

“According to Nigeria’s Debt Management Office, the total public domestic debt portfolio for the country’s is N97.3 trillion ($108 billion). The Federal Government’s debt is N87.3 trillion ($97 billion).”

“Nigeria paid $6.2 billion in 2019 as interest on loans while the country paid $6.5 as interest in 2018. Nigeria also paid $5 billion as interest on loans in 2017 while the country paid $4.4 billion as interest in 2016. For 2015, the interest paid on loans was $5.5 billion.”

“Substantial parts of the loans obtained by successive governments since the return of democracy in 1999 may have been mismanaged, diverted or stolen, and in any case remain unaccounted for.”

“Persons with public responsibilities ought to be answerable to the people for the performance of their duties including the management of the loans obtained between May 1999 and May 2023.”

Meanwhile, no date has been fixed for the hearing of the suit.

Former employees of the Central Bank of Nigeria (CBN) have criticized their abrupt termination, pointing fingers at the management for mistreatment and injustice.

They alleged that numerous individuals were not compensated with their entitlements before their termination, a decision they contended breaches the bank’s human resource regulations and policies.

In a statement made on Sunday in Jos, the capital of Plateau State, the North Central Coordinator of the Conference of Autochthonous Ethnic Communities Development Association Youth Wing, Paul Dekete, demanded the immediate reinstatement of the dismissed workers.

The statement partly read, “The purge wasn’t limited to high-level executives. It extended far beyond directors, impacting Deputy Directors and Assistant Directors who formed the backbone of departmental operations. These were not junior staff; they were seasoned professionals with deep institutional knowledge.

“For example, the Director of Information Technology was overseeing crucial projects on the very day they were terminated, including efforts to secure international information security certifications for the bank.

“In a particularly egregious case, a Director on special assignment, tasked with leading the bank’s efforts to secure an ISO certification for information security, was sacked on the very day the bank successfully achieved this crucial milestone.

“Central banking relies heavily on robust cybersecurity measures, and this certification is a testament to the Director’s competence and the bank’s commitment to financial security. This abrupt dismissal, on the day of a major accomplishment, raises serious questions about the planning and rationale behind the mass layoffs.

“The mass sack violated the bank’s own HR policy, which mandates board approval for executive terminations.

“This blatant disregard for due process has raised serious questions about transparency. The CBN, a federal institution, must adhere to public service rules. This dismissal exercise, carried out without board approval, lacks a solid legal foundation.

“Making matters worse, the bank offered no clear criteria for the mass sacking. This is a stark departure from their established culture of clear communication with staff during downsizing exercises.”

Dekete, speaking on behalf of the dismissed CBN workers, highlighted the abrupt termination process, which left long-serving employees jobless without consideration for their loyalty and dedication.

The dismissals not only caused financial distress, with loans tied to salaries immediately deducted, but also raised concerns of ethnic bias, particularly affecting the North Central and South Eastern regions.

Additionally, the removal of the entire Economic Intelligence Unit (EIU) raised worries about the bank’s ability to combat financial crimes effectively.

Dekete urged for a review of the termination decisions and called upon regional governors to intervene and address the concerning situation.

Prophet Archbishop Emmanuel Mutumwa, a Zimbabwean prophet who made a claim that God has provided him with the winning formula at casinos, has been banned from gambling establishments after reportedly winning $30,000 at one of the outlets.

Commenting on getting banned, Prophet Archbishop Emmanuel Mutumwa, the leader of the Johanne Masowe eChishanu Apostolic Sect, who revealed that his winning is the biggest at a local casino said; “This is the biggest win ever recorded at the casino. I broke the previous record by almost double, and it was the biggest jackpot won on the site this year.

"My celebrations were cut short, however, because I have been banned by other casinos for winning too much. They claim that since I am a prophet, I am receiving visions from God about the winning numbers. They fear they will go bankrupt because I will win too often” 

Defending his winnings,  he disclosed that he used the money to pay school fees for some of his church members and to provide start-up funds for their businesses. He also defended gambling. 

He added; “God works in mysterious ways. This win wasn’t about luck, but a test of faith. I prayed for guidance, and the Lord provided the numbers through a vision. Isn’t it a blessing to use these winnings to uplift my congregation? Gambling, when done responsibly, can be a source of good fortune that can be channelled towards helping others.

"Many people also come to me for spiritual guidance on winning lottery games, at casinos, or when placing bets. Interestingly, many of them have reported winning much more frequently since seeking my guidance.” 

A manager at a local casino confirmed that betting establishments typically restrict or close accounts of those who win consistently. This policy aims to protect the financial stability of the casinos.

The Nigeria Labour Congress (NLC) is poised for President Bola Tinubu’s verdict on the newly proposed ₦62,000 minimum wage, which emerged from recent discussions between the Federal Government and the Organised Private Sector.

NLC President, Joe Ajaero, expressed that the President’s response would significantly influence Organised Labour’s forthcoming actions.

The proposal, adopted at Friday’s meeting of the Tripartite Committee on the new minimum wage in Abuja, was initially met with resistance from labour representatives.

Trade Union Congress (TUC) President, Festus Osifo immediately rejected the figure, stating that labour would not accept anything less than ₦250,000 as a fair minimum wage.

In addition, the NLC issued a statement criticizing state governors for their refusal to even meet the previously proposed ₦60,000, labelling their stance as detrimental to the welfare of economically vulnerable groups.

Imo State Governor, Hope Uzodimma, alongside TUC President Osifo, confirmed the ₦62,000 figure at the conclusion of the Tripartite Committee meeting.

Governor Uzodimma explained that the committee’s recommendation would be forwarded to President Tinubu, who is expected to submit an executive bill to the National Assembly outlining the final minimum wage figure.

In his conversation with The Nation, Ajaero mentioned that Labour is prepared to wait for the President to consult further before making his decision public.

He recalled how the current ₦30,000 minimum wage was set, noting that a lower figure had initially been suggested before being raised by the then-president prior to legislative approval.

Former world heavyweight champion, Anthony Joshua, is making waves once again due to the latest Sunday Times Rich List, which sees the British-Nigerian’s net worth estimated at £175m, PUNCH reports.

After bouncing back from consecutive defeats by Oleksandr Usyk, Joshua’s recent hot streak includes four straight victories, with his latest win being a knockout blow to ex-UFC heavyweight Francis Ngannou in Riyadh, Saudi Arabia.

Since his stunning Olympic gold medal win at London 2012 catapulted him to fame, Joshua has been climbing the boxing ladder with gusto. But it’s a throwback interview with GQ in April 2017 that really shows the heights he aimed for.

At the time, Joshua was gearing up for his bout with Wladimir Klitschko at Wembley Stadium, which he won by KO. Chatting to GQ, Joshua revealed his financial dreams, saying initially he just wanted to be rolling in millions. But as times changed, so did his goals.

“When I first started, the aim was to become a multimillionaire. But now there are ordinary people, grandmas and granddads, who are worth millions just because of property prices,” he explained.

“So the new school of thought is that I need to be a billionaire. Being a millionaire is good, but you have to set your sights higher.”

Joshua has set his sights sky-high, revealing his financial goals saying, “If I’m making £10 million from my next fight, my next target has to be making ten times that. And if I get to £100m-150m, why not go for the billion? I know self-made billionaires. It’s hard, but it’s possible.”

The boxing star bagged a whopping £66m, his highest purse to date, when he snatched back his WBA, WBO, IBO, and IBF world titles from Andy Ruiz Jr in December 2019. Reports claim he then bagged £31million in his March clash with Ngannou.

Joshua has undeniably boosted his wealth recently, with Forbes estimating his 2020 earnings at a cool $47million. However, according to the latest Sunday Times Rich List, Joshua’s net worth now stands at a hefty £175m, an impressive figure, albeit short of his ultimate goal.

Joshua has always been open about his drive to earn big, telling Yahoo Sports in February 2023 that a big motivation for him is, “Money, money, money. I like making money, straight up. I’ve been broke, my family’s been broke, I know what this sh*t means.

“I always built businesses outside of boxing, out of fear of going back to square one, but when I’m said and done, no one will care about me anymore, so I’ll make the most of it while I’m here.”

The Economic and Financial Crimes Commission has arrested 127 suspected internet fraudsters during a “Yahoo Party” in Akure, Ondo State.

The suspects were apprehended in an early morning raid on Saturday, June 8, 2024, at simultaneous parties held at Signature and Abah Clubs in the state capital.

According to an EFCC Statement on Saturday, credible intelligence indicated the party was initially scheduled for Wednesday, June 5, but was postponed to Saturday in an attempt to evade the commission’s security and intelligence networks.

“Operatives of the Ibadan Zonal Directorate of the EFCC arrested One Hundred and Twenty-Seven (127) suspected internet fraudsters in Ondo State. The alleged internet fraudsters were arrested in an early morning sting operation at a ‘Yahoo Party’ held simultaneously at Signature and Abah Clubs on Saturday, June 8, 2024, in Akure,” the statement said.

The statement further revealed that the suspects have provided useful information to investigators, and various items were recovered from them, including ten exotic cars, phones, laptops, a motorcycle, wristwatches, and many incriminating documents.

“Items recovered from them include ten exotic cars, phones, laptops, motor-cycle, wristwatches and many incriminating documents,” the statement added.

The EFCC assured that the suspects would be charged to court as soon as investigations are concluded.

The raid is part of the commission’s ongoing efforts to clamp down on internet fraud, commonly known as “Yahoo Yahoo,” which has become a growing concern in the country.

Some suspected Boko Haram militants have reportedly killed three passengers in a commercial bus, who were identified as being of the Christian faith in Yobe State. 

SaharaReporters reports that the terrorists stopped the bus near Kamuya village in the Biu Local Government Area of Borno State and whisked away four persons identified as Christians. 

Three of them were later executed by the terrorists in a nearby bush. The whereabouts of the fourth person is not known as of the time of this report.

Sources in Kamuya village told SaharaReporters that the executed christians were travelling from Biu in Borno State to Damaturu, the Yobe State capital, when the tragic incident happened.

"At about 9am, they stopped the bus a few kilometers away from Kamuya village and led four passengers into the bush as we watched from afar. We immediately scampered to leave the area.

"It is really sad that they killed three of the abducted, as we later saw on Facebook. May God expose these terrorists and bring an end to their nefarious activities," a source who pleaded anonymity said.

The Secretary of Christian Association of Nigeria (CAN), Yobe State, Reverend Ibrahim Abako also confirmed the incident in a statement.

“I want to inform you that, we are not happy. Very sad news! On behalf of the Christian Association of Nigeria, Yobe State chapter, we condemn in totality, the killing of three Christian youths along Damaturu-Biu Federal Highway.

"CAN is urging the state government, military and the police to take measures to protect the citizens regardless of their religious affiliation," Abako stated.

When contacted on the incident, the spokesperson for the police in Yobe State, DSP Dungus Abdulkarim declined to confirm the matter. He however told SaharaReporters to direct the question to the military.

On his part, the spokesperson for the Nigerian Army, Major Gen Onyema Nwachukwu, did not answer repeated calls, just as he did not reply to a text message sent to his mobile phone. 

In a heartwarming encounter at the French Embassy in Abuja, an eight-year-old boy named Peter captured the admiration of many Nigerians when he respectfully turned down a significant cash gift from Super Eagles and Nottingham Forest striker, Taiwo Awoniyi, PUNCH Sports Extra reports.

The incident unfolded on Monday when Awoniyi visited the French Ambassador to Nigeria, Jean Francois Hasperue, to discuss sports partnership opportunities and the development of the Unicorn Football Academy in Ilorin.

Uche Nworah, a blogger present at the embassy, narrated the story on Facebook on Tuesday. Peter had greeted Nworah and his colleagues politely while they waited for their appointment.

Impressed by the boy’s demeanour, Nworah called Peter back to commend him and offered him a small cash gift in appreciation, but the boy refused, citing his father’s rule against accepting things from strangers.

Organised labour, consisting of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), condemned governors on Saturday over their recent stand on the new minimum wage in the country.

Naija News recall that the governors under the aegis of the Nigeria Governors Forum rejected the proposed ₦60,000 minimum wage for Nigerian workers.

The Director of Media and Public Affairs for NGF, Halimah Ahmed, noted in a statement released on Friday that the governors said the proposed minimum wage was too high and unsustainable.

The governors said if the ₦60,000 minimum wage is adopted, many states will allocate their entire Federal Account Allocation Committee funds to salaries, leaving no resources for development projects.

However, reacting on Saturday, the Organised Labour faulted the NGF’s position, saying every part of the new minimum wage agreement should be implemented and any of the state governors who can’t pay it should resign.

In an interview with Punch, Tommy Etim, the Deputy National President of the Trade Union Congress, said, “There is no minimum wage. Every segment of it should be implemented. For the governors, we have said it very clearly. If you cannot pay minimum wage, please resign because you were voted for governance, not only infrastructure.

“If you build the entire infrastructure and the people are not living to use it, who will use it? When they were campaigning did they tell us that? They didn’t tell us that. They make use of the poor to get to the top and when they get there, they start thinking outside the box. All the money they spent in electioneering campaigns, if they applied that to build infrastructure, to develop the revenue generation that would have solved some socio-economic challenges in their domain.”

Describing the NGF statement as a recipe for industrial unrest, he said, “In this same country, the governors said that ₦30,000 was too much for governors to pay but it is in the same country that a governor emerged with over ₦80bn. What an irony! We cannot jump processes. We will also look at it together. Labour will be meeting. We are giving Mr President the benefit of the doubt to work the talk. The end will justify the means.”

The Enugu Electricity Distribution Company (EEDC) has handed the residents of Ohafia with an electricity bill for N2.1 billion naira, which has alarmed Ibe Okwara Osonwa, the member of the House of Representatives representing Arochukwu, the federal constituency of Ohafia.

Osonwa claimed that the ridiculous charge was issued to his constituents despite the fact that Ohafia has been without power for almost five years.

The House of Representatives member, who disclosed this in Umuahia while briefing journalists on his first year in the green chambers, said he had taken moves to end the crazy bill saga, among other accomplishments.

He suggested that the Federal government should cancel the licence of any electrical provider that is unable to produce electricity, claiming that inadequate power supply is the cause of Nigeria’s economic problems.

The legislator bemoaned the recent murder of a woman in Isu community constituency, stating that he had worked with the security services and administration of Abia State to bring peace back to the volatile region.

In addition to claiming to have introduced a bill in the National Assembly to rename Ohafia General Hospital the Federal Medical Centre, Osonwa added that his constituency’s crumbling bridges, poor roads, and threat of gully erosion needed to be addressed.

On the Nigerian Labour Congress’ (NLC) minimum wage demand, the legislator stated that the N400,000 demand is unreasonable, suggesting that workers should be paid N100,000 as a living wage.

He utilised the occasion to point out that members of the National Assembly do not receive large salaries, and that those who accuse them of being indifferent to the condition of Nigerian workers are just being unfair to the legislators.