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SERAP has advised the Federal Government to drop plan to borrow about N895billion from unclaimed dividends and funds in dormant accounts

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SERAP

The Socio-Economic Rights and Accountability Project (SERAP) has advised the Federal Government to drop the plan to borrow about N895billion from unclaimed dividends and funds in dormant accounts using the “patently unconstitutional and illegal Finance Act, 2020.”

In an open letter to President Muhammadu Buhari, SERAP urged him to ensure full respect for Nigerians’ right to property. The letter was copied to the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN) and Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed.

According to the group, the Finance Act, signed into law by Buhari last December, would allow the government to borrow unclaimed dividends and dormant account balances owned by Nigerians in any bank in the country.

But SERAP, in the letter dated January 9, 2021, and signed by its Deputy Director, Kolawole Oluwadare, stated that the right to property is sacred and fundamental. “Borrowing unclaimed dividends and funds in dormant accounts amount to an illegal expropriation, and would hurt poor and vulnerable Nigerians who continue to suffer under reduced public services, and ultimately lead to unsustainable levels of public debt.”

SERAP further argued: “The right to property extends to all forms of property, including unclaimed dividends and funds in dormant accounts. Borrowing these dividends and funds without due process of law, and the explicit consent of the owners is arbitrary, and as such, legally and morally unjustifiable.”

To SERAP, the borrowing is neither proportionate nor necessary, especially given the unwillingness or inability of the government to stop systemic corruption in ministries, departments and agencies, cut waste and stop all leakages in public expenditures.

“Rather than pushing to borrow unclaimed dividends and funds in dormant accounts, your government ought to move swiftly to cut the cost of governance, ensure review of jumbo salaries and allowances of all high-ranking political office holders, and address the systemic corruption in ministries, departments and agencies as well as improve transparency and accountability in public spending.

“The borrowing also seems to be discriminatory, as it excludes government-owned official bank accounts, and may exclude the bank accounts of high-ranking government officials and politicians, thereby violating the constitutional and international prohibition of discrimination against vulnerable groups, to allow everyone to fully enjoy their right to property and associated rights on equal terms.”

SERAP is concerned that the government has also repeatedly failed and/or refused to ensure transparency and accountability in the spending of recovered stolen assets, and the loans so far obtained, which, according to the Debt Management Office, currently stands at $31.98 billion.

The group urged Federal Government to drop the borrowing plan and to return the Finance Act to the National Assembly to repeal it within 14 days or face legal action.

Source: Guardian Newspaper

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Governor Yusuf Pays Over 3 Billion for Secondary School Students to Sit for NECO, NABTEB, NBAIS

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The Governor of Kano State, Alhaji Abba Kabir Yusuf, has expended over 3 billion naira for 141,175 (one hundred and forty-one thousand, one hundred and seventy-five) Kano students who passed the 2024 qualifying examinations to sit for this year’s WAEC, NECO, NABTEB, and NBAIS (2025).

In a statement issued by the Governor’s Special Adviser on Information, Ibrahim Adam, it was noted that the Commissioner for Education, Ali Haruna Makoda, announced to newsmen in Kano that the State Ministry of Education had released the results of the qualifying examinations for secondary school students in Kano.

These students are studying under the Kano State Teachers Service Board and the Science and Technical Schools Board, where 75 percent of them qualified to write the senior school certificate examinations of WAEC, NABTEB, NECO, and NBAIS (for Arabic students).

Ali Haruna Makoda stated that the students eligible for payment by the Kano State Government under Alhaji Abba Kabir Yusuf are those who scored five credits and above.

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The Commissioner maintained that all secondary school principals and directors should notify their students of their results so that the state government can effect the payment.

The 2025 qualifying exams for WAEC, NECO, and NABTEB will enable the students to sit for their 2025 examinations required for admission into tertiary education.

Ibrahim Adam, the Special Adviser to Governor Yusuf on Information, said that since the inception of the administration in May 2023, it has settled registration fees for Kano indigent students for WAEC, NECO, NABTEB, and NBAIS.

The Special Adviser pointed out that apart from settling the fees, Governor Yusuf’s administration has also paid huge outstanding debts for WAEC, NECO, and NABTEB left behind by former Governor Abdullahi Umar Ganduje’s administration.

He also said it is part of Governor Yusuf’s declaration of a state of emergency on education and an effort to mitigate the high number of out-of-school children that have bedeviled the state.

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NWDC Cancels Foreign Scholarship Scheme, Backs FG’s Local Education Policy

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The North West Development Commission (NWDC) has announced the cancellation of its foreign scholarship application process in response to a new policy directive from the Federal Government prioritizing local education.

In a statement issued by the NWDC management on Thursday, May 8, 2025, the commission confirmed that the cancellation is in line with a recent federal directive urging public institutions to focus on strengthening educational capacity within Nigeria.

“This decision follows the Federal Government’s announcement on May 7, 2025,” the statement read. “We are fully committed to aligning our programs and initiatives with national priorities, especially those aimed at promoting local content and indigenous capacity building.”

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The Federal Government’s directive was conveyed through a press statement signed by Mrs. Boriowo Folasade, Director of Press and Public Relations at the Federal Ministry of Education. The statement emphasized the need to redirect resources towards improving domestic institutions and ensuring more Nigerians have access to quality education at home.

“The policy is designed to reduce reliance on foreign academic systems and bolster Nigeria’s educational sector by investing in local universities and training institutions,” Mrs. Folasade said in the official release.

The NWDC reiterated its support for this policy, noting that it will explore new avenues to support educational and human capital development within the region. “The commission will provide updates on further opportunities and programs in due course,” the NWDC statement concluded.

The move is expected to impact hundreds of applicants who had hoped to pursue studies abroad under the commission’s sponsorship but may now need to consider domestic options supported by the commission in future initiatives.

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Erosion Control :Governor Yusuf Disburses Over N600 Million Compensation

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Kano State Governor, Alhaji Abba Kabir Yusuf, has disbursed over N600 million to residents of Bulbula and Gayawa who were affected by the ongoing Erosion Control Project.

A statement released on Thursday by the Governor’s Spokesperson, Sanusi Bature Dawakin Tofa, said that the disbursement was organized by the Kano State Agro-Climatic Resilience in Semi-Arid Landscapes (Kano-ACReSAL), under the Ministry of Environment and Climate Change. The event took place at the Coronation Hall, Government House, Kano.

According to the statement, the project involves the construction of reinforced concrete channels, bioremediation buffers, and other robust erosion control infrastructure.

This initiative aims to reclaim degraded land and restore safety to the affected areas. It is being executed through a collaboration between the state and federal governments, with support from the World Bank.

The statement further elaborated that the project will also strengthen surveillance through the engagement of community vigilantes and the installation of solar streetlights to deter criminal activity that had previously thrived in the abandoned gully area.

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In his address, Governor Yusuf stated:
“Today marks a significant step forward in our collective journey to restore dignity, security, and prosperity to the communities of Bulbula and Gayawa.”

He continued:
“I am deeply honored to be here to personally present compensation cheques to the Project Affected Persons (PAPs) under the Resettlement Action Plan (RAP) for the Bulbula-Gayawa Erosion Control Project in Nasarawa and Ungogo Local Government Areas.”

The Governor urged the beneficiaries to make judicious use of the funds, emphasizing:
“Every cheque presented today is a message that the government of Abba Gida-Gida stands with its people, especially during times of hardship and displacement.”

“The compensation being disbursed today is based on thorough enumeration, community engagement, and due diligence. Our approach ensures that every affected citizen is recognized, documented, and fairly treated in accordance with global best practices,” he assured.

Governor Yusuf lamented that:
“The Bulbula-Gayawa erosion menace has brought untold hardship to many. It has claimed farmlands, damaged homes, displaced families, and turned once-thriving neighborhoods into unsafe zones.”

The Governor pledged his administration’s continued support throughout the project’s lifecycle, reiterating that no community would be left behind in the development process.

Governor Yusuf expressed his appreciation to the implementation team under the ACReSAL Project, traditional rulers, community representatives, and relevant stakeholders for their transparency, professionalism, and relentless efforts in ensuring the successful compensation exercise.

 

Some beneficiaries, Jibril Abdullahi Jibril and Fatima Haruna, expressed their gratitude to the state government for the intervention. They recalled years of advocating for the project, which had been unsuccessful until the present administration took action.

 

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