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Corruption allegations: 107 groups protest in Lagos, urges Tinubu to cleanse EFCC

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A conglomeration of about 107 Anti-Corruption crusade groups led by Crime and Corruption Monitors, has impressed on the incoming administration of President-elect, Bola Ahmed Tinubu to ensure the Economic and Financial Crimes Commission (EFCC) is cleaned of entrenched corrupt leadership symbolized by its current Chairman Abdulrasheed Bawa.

This follows a protest by the Anti-Corruption crusade Conglomerate, which was terminated at the Youths Sports Complex, Lagos.

The groups pointed out that EFCC is an important government agency in Nigeria, established primarily to rid the society of corruption and not conceived as an agency for settling scores for political godfathers.

The convener of the conglomerate, Idowu Bello who read the statement in Lagos warned that “If a government agency expected to fight crime is found going about its business in a manner that mimics witch-hunt and selective justice while also being unable to deal with the corruption going on within its own workforce, the nation is headed for real time crises, conflict of confidence.”

He noted that despite government’s claim of making the fight against corruption and related practices a top priority, EFCC, the agency charged with the execution of the war, is in questions over mounting allegations of monumental corrupt practices.
“Allegations that about 80 per cent of cases under EFCC investigation are not taken to court. EFCC offices now literally serve as courtrooms.

“Last week, Zamfara state governor, Bello Matawalle, alleged that Bawa demanded the sum of $2million from him as bribe to stop a purported probe against him.

“Even before Abdulrasheed Bawa was presented as substantive EFCC Chairman, he has been arrested and detained by the anti-graft agency in 2019 for selling at least 244 trucks worth between N20-30 million each to his proxies at N100,000 per unit.

“He is also accused of recently expanding a large amount of money to the tune of $300,000 for hotels and other activities, which is far and beyond his income as civil servant, during a visit to Mecca with his family on a lesser Hajj.

“There are also allegations of connivance with the Attorney General of the Federation,  Abubakar Malami in auctioning of sea vessels holding crude oil seized by the Federal Government, violating Section 31(2) and (4) of the EFCC Act 2004.”

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According to him, Malami and Bawa also allegedly authorized the sale of vessels by companies under EFCC prosecution for similar offence of illegal bunkering.

“Bawa and Malami were fingered in the discontinuation of a N25billion criminal charge against Senator Danjuma Goje without any justification after over seven years of diligent investigation and prosecution.

“Equally, the incident of Abel Isah, an EFCC cadet in Sokoto who was allegedly beaten to death by superior officers for refusing to sign off on incomplete exhibits is still fresh in the minds of Nigerians,” the statement read.

The Crusaders however, demanded the immediate sack of Bawa as EFCC Chairman and to be subjected to wholistic probe the way his predecessor Ibrahim Magu was treated.

“Like every other agency of government everywhere, there are global standards of practice  for officials who had been accused of gross misconduct to step aside while investigations were conducted to ascertain the veracity of the allegations.

“As pointed out earlier several eminent eminent Nigerians have claimed to possess evidence of corrupt practices, breach of public trust and abuse of office against the EFCC and its Chairman, Abdulrasheed Bawa.

“It is based on the above observations that the Crime and Corruption Monitors and 107 Anti Corruption Crusade Groups deem it necessary to demand that Abdulrasheed Bawa excuses himself from office and surrender for investigation.

“We demand that if Bawa remains adamant,  he be forced out and subjected to comprehensive probe  the way his predecessor Ibrahim Magu was made to do.

“Since it is obvious by now that the Buhari administration which brought Abdulrasheed Bawa is not disposed to initiating action, we call on the incoming President Bola Ahmed Tinubu to make it first priority to cleanse the EFCC of corrupt leaders.

“Corruption is one of the most serious social and security challenges facing Nigeria today which is the more reason why Tinubu should see it as an existential matter that needs to be addressed and tackled robustly and defeated once for all.

“No nation can aspire to greatness or seek to remain secure and safe when corruption and other corrupt practices are allowed to find their way into all its vital institutions including the agency saddled with the responsibility of fighting it.

They added that, for this reason, corruption must be confronted  with the entire will and resolve of the incoming administration beginning with thorough cleansing of the EFCC by first getting Bawa out and subjecting him to probe before extending action to cover other organs and tiers of government in Nigeria without exception.

“Failure to do so will indubitably mean that every effort made the anti-graft agency is headed by suspicious leaders will defeat all development endeavours of the incoming administration and render its task the more difficult and futile.

“We remind the President-elect that National challenges such as the corruption we are faced with should not be treated with levity and condescension. Neither should action be limited to targeted individuals or tiers of government. On the contrary, corruption is a cross-national issue that affect every one of us regardless of where we live or come from,” the statement read.

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FG Seeks Fresh $1.5bn World Bank Loans As Nigeria’s Debt Hits N166.79tn

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By Yusuf Danjuma Yunusa

The Federal Government is in discussions with the World Bank for three new loans worth a combined $1.5 billion, even as Nigeria’s total public debt climbed to a record N166.79 trillion by June 2026.

The proposed facilities consist of three $500 million loans targeting climate resilience, social protection and early childhood development.

The first is an additional $500 million for the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project, which would increase its total financing to $1.2 billion. The funds are expected to support land restoration, flood and erosion control, irrigation, water management and other climate-resilience measures across northern Nigeria.

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Another $500 million facility is proposed for the Household Prosperity and Empowerment-Social Protection (HOPE-SP) project. It is designed to support poor and vulnerable households through cash transfers, an improved social registry and stronger social protection systems.

The third $500 million loan would finance the Nigeria Early Childhood Development programme, covering all 36 states and the Federal Capital Territory. The programme aims to improve access to healthcare, nutrition, early learning, childcare, water and sanitation for children aged zero to five.

Meanwhile, figures from the Debt Management Office show that Nigeria’s public debt increased by N14.39 trillion , from N152.40 trillion in June 2025 to N166.79 trillion in June 2026. Domestic debt stood at N91.59 trillion, while external debt was N75.20 trillion.

Nigeria’s debt to the World Bank Group also rose to $20.73 billion by June 2026, accounting for about 38 per cent of the country’s $54.52 billion external debt.

Economist Adewale Abimbola said concessional loans could support development if properly structured and effectively utilised, stressing that the key issue was how the borrowed funds were deployed.

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Report: Nigeria Records N166trn Public Debt

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‎By Yusuf Danjuma Yunusa
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‎The Debt Management Office (DMO) says Nigeria’s total public debt rose to N166.79 trillion as of June 30, 2026.
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‎The DMO published the latest public debt portfolio report on Friday.
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‎The figure represents a 9.4 percent or N14.39 trillion increase from the N152.4 trillion recorded at the end of June 2025.
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‎It also represents an increase of N7.44 trillion or 4.7 percent compared with the N159.35 trillion recorded at the end of the first quarter (Q1) of 2026.
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‎According to the latest report, the debt stock comprises N91.59 trillion in domestic debt, which accounts for 54.91 percent of the total debt stock, and N75.2 trillion in external debt, representing 45.09 percent.
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‎The debt office said domestic debt increased by N11.04 trillion (13.7 percent) from N80.55 trillion recorded in June 2025.
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‎The office said external debt also rose by N3.35 trillion (4.7 percent) from N71.85 trillion in the same period.
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‎According to the DMO, the federal government accounted for N152.77 trillion of the total debt stock, comprising N86.99 trillion in domestic debt and N65.77 trillion in external debt.
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‎On the other hand, states and the Federal Capital Territory (FCT) accounted for the remaining N14.01 trillion — N4.59 trillion in domestic debt and N9.42 trillion in external debt.
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‎In dollar terms, the agency said Nigeria’s total public debt stood at $120.93 billion as of June 30, 2026 — up from $99.66 billion recorded in June 2025.
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‎The DMO said the Central Bank of Nigeria (CBN) official exchange rate of N1,379 per dollar as of June 30 was used to convert the external debt to naira.
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NNPC Ltd Welcomes $800m Ima Gas Final Investment Decision

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The Nigerian National Petroleum Company Limited (NNPC Ltd) has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, describing it as a landmark development that affirms the growing viability of Nigeria’s upstream gas sector.

The project, located offshore in OMLs 112 and 117 and developed by AMNI International in partnership with TotalEnergies, will produce about 300 million standard cubic feet of gas per day at peak. The output will supply critical feedgas to Nigeria LNG Limited in support of its Train 7 expansion, which will increase capacity at the Bonny Island plant from 22 million tons per annum to 30 Mtpa.

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The FID was enabled by the Presidential Directives of 2024, which provided fiscal incentives for non-associated gas, streamlined contracting and lowered development costs. Ima is the fourth major gas project to reach FID under President Bola Ahmed Tinubu, after Iseni, Ubeta and HI.

Group Chief Executive Officer, NNPC Ltd., Engr. Bashir Bayo Ojulari described it as “a decisive vote of confidence in Nigeria’s gas sector and in the bold reforms” that have created competitive terms and a predictable investment environment.

NNPC Ltd. also commends the collaboration between AMNI, TotalEnergies and the Nigerian financial sector, saying the model of indigenous operator, international partner and domestic capital is a template for future developments.

In a statement signed by Andy Odeh Chief corporate communications officer of NNPC Ltd. reaffirms its commitment to work with government, regulators and industry partners to sustain investment momentum and deploy Nigeria’s gas resources for industrialisation, job creation and long-term prosperity.

 

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