President Goodluck Jonathan has urged heads of other countries to join forces with Nigeria in stamping out terrorism from the country, the continent, and the rest of the world.
Speaking on Thursday on the occasion of the Centenary Conference themed Human Security, Peace and Development: Agenda for the 21st Century, Jonathan emphasised the importance of countries working together across boundaries, not only to coordinate and strengthen their defences but also to address the socioeconomic roots on which these extreme ideologies thrive.
He called for greater regional cooperation in intelligence gathering, saying the control of insurgents will ensure not only Nigeria’s security, but also the security of its neighbours.
Describing the rising menace of the use of small arms and light weapons as a great threat to the world’s human and national security, he revealed that out of the 500 million illegal small arms and light weapons in the world, an estimated 100 million are in Africa, with 10 per cent in West Africa, mainly in the hands of non-state actors.
“Today, as our nation marks its first 100 years, we look back with gratitude to God and with pride in our citizens. We look forward also, to the future, with hope and confidence”, he said.
“In this hall and beyond, I am delighted to welcome many of our past, current and future leaders, as well as our friends and partners, from near and far, persons and nations that have stood with us in times past, and whose friendship we will continue to cherish in the years to come.
“It is my unique honour and privilege to welcome you all to this Conference, a shared moment, to celebrate the 100 years of the Nigerian nation; and for profound reflection on our challenges and opportunities as a continent.
“Your Excellencies, only one year ago, in Addis Ababa, Ethiopia, Africa celebrated 50 years of the establishment of the Organization of African Unity, now the African Union. On that occasion, African leaders reflected on our history and on the state of our union and we re-committed ourselves to building a new Africa, which will usher in greater peace, security and prosperity for our peoples.
“But as I address you today, I have a heavy heart. Two days ago, terrorists invaded a secondary school and murdered innocent children in Yobe State, while they slept. The children, the hopes of their parents and the future leaders of our dear nation, had their hopes and dreams snuffed out, leaving behind grieving families, schoolmates, communities and a sad nation”.
He conveyed his prayers and thoughts to families of victims of the killing, which he described as gruesome and mindless act of savagery that is totally not Nigerian or African. Jonathan assured that his administration will spare no resource in bringing those murderers to justice.
He expressed happiness with Africa’s rise, noting that seven of the fastest growing economies in the world are in Africa, while investment in the continent by Africans in the Diaspora bears testimony to the increased level of confidence in our continent.
He praised the rising middle class and greater penetration of Information and Communications Technologies, which when combined with a fast-expanding financial services sector, are all pointers to a better future. But we must secure this bright future. To do so, we must seriously address the issues of human security, peace and development.
“Your Excellencies, as you well know, the issues of human security and peace are indispensable in the life of every nation. For far too long, in many parts of the world, especially in our continent, governments had placed much emphasis on the security of the state, and our very scarce resources were committed to military and regime security, at the expense of human security.
“We recognize human security as encompassing firm guarantees for human rights and good governance, that translate into expanded opportunities for economic security, food security, health and education security, environmental security, and personal and community security.
“A firm commitment to human security holds the promise of an end to persistent conflicts, insecurity, poverty, disease, terrorism and other scourges that undermine the attainment of our dreams.
“We must emphasize that human security and peace are intertwined. Peace is not just the absence of violence or war. Peace encompasses every aspect of social tranquillity and wellbeing. The peace we strive for is a state marked by the absence of severe human want and avoidable fear. In our lifetime, this peace is attainable, in our nations and our continent”.
He also spoke of the need to strengthen existing mechanisms for national and international conflict management, and create new avenues for cooperation, within and between our peoples and our Nations. He canvassed the view that with focused and cooperation, the 21st century can be the African century — the century where all African children have enough to eat, the century where all children will be in school, where economic growth and prosperity touches all, regardless of gender, economic, political status, ethnic or religious affinity.
But for this to be achieved, he agreed that development on the continent must be people-centred, people-driven and anchored on human security. He stated that the current state of human security, peace and development in our dear continent presents a picture of hope as well as challenges. He noted that for over a decade, Africa has consolidated on its democracy, and many countries have exited military dictatorship, which has now a heightened commitment to the tenets of good governance, and the rule of law.
“Nigeria has always sought security, peace and development. We are steadily developing a strong and vibrant democracy. There is enthusiastic participation across the Nation, with a purposeful government and active opposition parties. This was clearly expressed in the last national elections held in 2011, which received wide national and international acclaim, and was adjudged the freest and fairest ever in our nation’s history”, he continued.
“But as our nations grow, and as Africa grows, we must address some fundamental challenges to our human security, peace and development. Terrorism, which is a global menace, has extended its tentacles to Africa and Nigeria. In concert with our regional and global partners, we will continue to respond strategically and decisively to this scourge, and together with our people we shall end the killings and bring terrorism to an end.
“Your Excellencies, let us work together across boundaries, not only to coordinate and strengthen our defences, but also to address any socio-economic roots on which these extreme ideologies thrive. Terrorism must be condemned in the strongest possible terms. We all must work together, collectively, to rid our world of haters of peace, who use terror to maim, kill, instil fear and deny people their rights to peace and security”.
“The Boko Haram insurgency in Nigeria is one of such condemnable acts of terror. We have continued to deploy human and military intelligence, in close collaboration with our partners, to bring an end to their nefarious activities. Greater regional cooperation in intelligence gathering and control of insurgents will ensure not only Nigeria’s security, but also the security of our neighbours.
“A great threat to our collective human and national security is the rising menace of the use of small arms and light weapons. Out of the 500 million illegal small arms and light weapons in the world, an estimated 100 million are in Africa, with 10% in West Africa, mainly in the hands of non-state actors.
According to Jonathan, Africa has had enough of wars and their cost, as well as that of insurgencies, is too high. He stated that Africa loses an estimated 18 billion dollars per year from wars and insurgencies. He said wars, insurgencies and conflicts impact neighbouring countries even more, due to displacement of refugees, illegal trafficking of arms and disruption of economic activities.
The president maintained that when there are wars or conflicts, we all lose and when there is peace, we all win. He therefore stated the need to deepen the resolve to regulate the illicit trade in small arms and light weapons, strengthen enforcement of the regional protocols, such as the Economic Community of West African States (ECOWAS) Convention on Small Arms and Light Weapons, their Ammunition and Related Materials; and the Nairobi Protocol for the Prevention, Control, and Reduction of Small Arms and Light Weapons in the Great Lakes Region and the Horn of Africa.
“We must do more to reduce some of the drivers of growth in illicit small arms, including human insecurity, inequalities, marginalization, ineffective disarmament, social exclusion and the culture of violence.
“Africa faces a huge challenge with youth population bulge. By 2050, it is projected that about 40% of the population of Africa will be made up of young people below the age of 15 years, while about 60% of the population will be made up of young people below the age of 25 years.
“A major concern is the high level of unemployment among the youth, especially those that are educated and skilled. No priority for human security is more important for African countries than a sharp focus on creating jobs for this teeming youth population. Skills acquisition, entrepreneurship development, encouraging the youth to go into agriculture as a business, and providing them with access to cheaper financing to fulfil their dreams, are all needed to harness and unleash the power of our youth to secure our collective future.
“To foster this, we need to further strengthen intra-Africa trade to create jobs. Africa must add value to its primary products and commodities to ensure that wealth is created on the continent. This will create wider scope for prosperity for our populations.
“We must address the issue of inequality. There is no doubt that Africa is growing and our economies are among some of the fastest growing in the world. But this growth is not creating enough impacts in terms of improving the living standards of our people”.
The president further spoke of the need for inclusive growth capable of stimulating broader shared prosperity among the citizens, adding that social policies that improve access to food, water, housing and education are crucial for inclusive growth and social participation.
While speaking on the importance of addressing the challenges of climate change, he observed that Africa accounts for less than three percent of greenhouse emissions, but it bears the greater brunt of the negative impacts of climate change, such as increasing incidences of floods and droughts, which create vulnerabilities, displace populations and threaten human security.
“The Africa Risk Capacity, the Specialized Agency of the African Union, has a major role to play in reducing the impacts of climate change on farmers, pastoralists, food security and budgets of governments as they address the challenges imposed by extreme weather events and natural disasters”, he said.
“Africa must address the issue of women empowerment to improve human security. When there are wars and social conflicts, women and children bear the brunt of it. So, when we have peace and stability, women and children should be those who benefit the most.
“That is why I am calling today for an Affirmative Finance Action for Women. Under this action, banks should devote at least thirty percent of their bank lending in Agriculture to women farmers and women-owned agribusinesses. The evidence is clear that women rarely default on loans. This purposeful focus on women must become our priority for the post-2015 MDGs.Securing women’s future will secure Africa’s future.
“This brighter future can only occur, if we improve governance and accountability systems. We must reduce the cost of governance and increase more of the national resources on the governed. In particular, we need to reduce the cost of elections and electioneering and shift greater focus on ensuring that the dividends of democracy are delivered to our peoples.
“But democracy alone is not enough. We must remain vigilant and look into our peculiar situation in Africa and identify critical factors that belies the extremism and terrorism that threatens our collective security. The enemies of the state today in Africa are often faceless, driven by religious extremism, ethnic mistrust and rivalries, and propagandas of hate. Their nefarious actions are not limited to any single country and no one is immune.
“Therefore, as leaders we also must change our approach and work more closely together to confront and defeat terrorists and purveyors of hate. Terrorists do not respect borders or boundaries. While we respect our national boundaries, terrorists move in and out of our borders. It is now time that we agreed as African leaders that acts of terror against one nation is an act of terror against all.
“We must not allow our countries to become safe havens for terrorists. We must cooperate maximally in better managing our political boundaries. We should adopt protocols that allow countries to pursue terrorists well into their safe havens in other nations. While we cannot redefine our borders, we must re-define our collective approach to ending trans-boundary terrorism and insurgencies”.
Jonathan also urged the African Union Peer Review Mechanism to pay greater attention to the issues of human security, peace and development. He proposes the development of an African Human Security Index that helps to measure the progress on these and other critical issues in Africa, as shaped by African countries themselves.
He argued that what Africa needs more than anything else in this 21st century therefore is collective action for positive transformation for the good of Africa, saying there is no doubt that this is the African century.
“That is why I want to call on other African leaders to join me in seeking new ways to achieve our goals together, new strategies and workable solutions that advance our cause for peace and development”, he said.
“Let us work towards an Africa, where economic growth leads to jobs for all school leavers, regardless of their ethnicity, their religion, or their gender. Let us work towards an Africa where we all live free from the fear of war and terrorism, and where young Africans see a future for themselves in productive employment, enterprise and education, and not in the false promises of extremist ideology.
“We must work towards an Africa in which human security is a priority for all governments, where genuine and lasting peace makes it possible to achieve, and where economic development works for the benefit of all. It is that Africa of peace, of equity and justice that I crave and it is that Africa that seeks and secures democracy, the democracy that guarantees human happiness.
“Your Excellencies, distinguished ladies and gentlemen, the past is behind us and the future beacons on us. As leaders, we must build a future Africa that generations yet unborn will be happy we bequeathed to them. This must be an Africa devoid of wars and conflicts. An Africa where there are no borders. An Africa where there is free movement of people, goods and services. An Africa that is full of boundless opportunities. To this new Africa we must commit ourselves. Long live Africa, Long live Nigeria, God bless you all”.
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Tinubu Meets Bolloré in Paris Over Expanded Investment in Nigeria’s Creative, Digital Economy
President Bola Ahmed Tinubu has held talks with French businessman Vincent Bolloré in Paris on plans to expand investment in Nigeria’s creative and digital economy.
The meeting, held during the President’s working vacation, focused on opportunities to deepen the localisation of operations by the Bolloré Group and increase investment in sectors including film, entertainment, fibre-optic infrastructure and digital services, according to a statement issued by the presidency.
Bolloré and members of his executive team outlined proposed investments centred on Nigeria, highlighting the country’s growing influence in global entertainment through Nollywood and Afrobeats.
The group also expressed interest in expanding its operations and local presence in Nigeria, with the presidency saying the plans could support increased production, investment and employment opportunities in the country.
Tinubu reaffirmed his administration’s focus on economic growth, job creation and digitalisation, while welcoming the group’s reported plans to deepen its activities in Nigeria.
The President said the government would continue to support investments aimed at developing the creative and digital economy, strengthening infrastructure and creating opportunities for Nigerian talent.
According to the statement, Tinubu also emphasised the potential for Nigeria to serve as a base for companies seeking to operate across Africa and international markets.
The meeting comes as Nigeria continues to promote its entertainment and technology sectors as areas of economic opportunity, with the government seeking to attract investment while expanding employment opportunities for young Nigerians.
Tinubu said his administration’s Renewed Hope Agenda seeks to harness Nigeria’s talent, entrepreneurship and growing global cultural influence to create greater economic opportunities and improve livelihoods.
News
Banks Shut 476 Branches as Nigeria’s Banking Landscape Goes Digital
Nigeria’s banks are rapidly abandoning the traditional banking model, shutting down hundreds of branches and cash centres as customers increasingly move to digital and electronic channels.
Data from the Central Bank of Nigeria show that banks closed a net 476 branches and cash centres between 2022 and 2025, cutting the country’s physical banking network by 8.8 per cent in just three years.
The number of bank branches and cash centres plunged from 5,410 in 2022 to 4,934 in 2025, signalling a dramatic shift away from brick-and-mortar banking.
The contraction has gathered pace in recent years.
Banks closed 37 locations in 2023, followed by a much steeper reduction of 229 locations in 2024. Another 210 branches and cash centres disappeared in 2025.
In effect, more than nine out of every 10 locations lost during the three-year period were closed in 2024 and 2025.
The figures, contained in the CBN’s 2025 Statistical Bulletin for the Financial Sector, cover branches and cash centres operated by commercial, merchant and non-interest banks. The data were sourced from the CBN and the Nigeria Deposit Insurance Corporation.
Lagos bears the biggest hit Lagos, Nigeria’s financial powerhouse, recorded the largest decline.
The state had 1,602 bank branches and cash centres in 2022. That figure dropped to 1,532 in 2023, 1,521 in 2024 and just 1,444 in 2025.
That represents a loss of 158 locations, or nearly 10 per cent, in three years.
Despite the closures, Lagos remains overwhelmingly dominant, accounting for almost 29 per cent of all physical banking locations in Nigeria.
The Federal Capital Territory also suffered a significant contraction. Abuja went from 400 locations in 2022 to 362 in 2025, a decline of 38, or 9.5 per cent.
But some states experienced far more dramatic cuts.
Ekiti lost almost half of its banking locations, falling from 107 in 2022 to just 57 in 2025 — a staggering 46.7 per cent decline.
Enugu lost 44 locations, dropping from 162 to 118, while Oyo shed 41, falling from 237 to 196.
Other notable declines were recorded in Ondo, Plateau, Osun, Cross River and Rivers.
Northern banking centres also feel the squeeze
The contraction was not confined to the South.
Kano, for instance, initially expanded its banking footprint, rising from 164 locations in 2022 to 183 in 2024. But the reversal was sharp in 2025, when the figure crashed to 157.
Kaduna followed a similar pattern. Its locations climbed from 148 in 2022 to 164 in 2024 before falling back to 146 in 2025.
Yet not every state is losing branches.
Delta recorded the strongest expansion among the states highlighted, adding 23 locations and rising from 173 in 2022 to 196 in 2025.
Edo added 10, while Jigawa and Kogi gained six and five locations respectively.
A widening banking divide
The figures expose a striking disparity in access to physical banking infrastructure across Nigeria.
While Lagos had 1,444 branches and cash centres in 2025, Yobe had only 23, Taraba 26 and Zamfara 28.
Bayelsa and Gombe had 31 each, while Ebonyi had 32.
The imbalance underscores how heavily physical banking infrastructure remains concentrated in Nigeria’s major commercial and economic centres.
The bank branch may be losing its battle
The shrinking branch network comes despite the number of banks operating in Nigeria initially increasing.
The country had 32 banks in 2022, 33 in 2023 and 35 in 2024, before the figure slipped slightly to 34 in 2025.
That means the branch closures cannot simply be explained by a shrinking number of banks.
Instead, the figures point to a much bigger transformation: Nigerian banking is moving away from physical locations and towards digital platforms.
The CBN has itself been pushing greater adoption of alternative payment channels, particularly among farmers, traders, small businesses and informal-sector operators who may have limited access to conventional banking services.
Speaking at the 2026 CBN Fair in Lokoja, the Acting Director of Corporate Communications and Investor Relations, Hakama Sidi-Ali, stressed the importance of alternative payment channels in expanding financial access and stimulating economic activity.
The message from the numbers is even clearer.
The era of banking halls on every major street may be fading.
With hundreds of branches disappearing in just three years — and the pace of closures accelerating — Nigeria’s banking industry is betting increasingly on phones, apps, electronic payments and other digital channels rather than physical walls and counters.
For millions of Nigerians, the next bank branch may no longer be a building. It may be sitting in their hands.
Business
In The Spotlight
Dangote: OPM Made You 36th Globally—How Many Investors Will Become Billionaires?
Alhaji Aliko Dangote has done what very few Africans have ever done. He has built a business empire of extraordinary scale, crossed the $50 billion mark in personal wealth, and reportedly risen to the 36th position among the world’s 3,397 billionaires.
That is an achievement Nigerians can acknowledge. But today, I want to ask a different question. Alhaji Dangote, how many of the Nigerians who are now investing their hard-earned money in your businesses will you help turn into millionaires—and eventually billionaires? That, in my view, is the more important question. Because behind every great fortune is an army of people whose money, labour, patronage, trust and participation helped create that wealth. And that brings us to OPM—Other People’s Money.
Other People's Money Built More Than One Fortune
Let us be honest: no business empire is built by one person alone. Investors provide capital. Banks provide financing. Workers provide labour. Consumers provide revenue. Suppliers provide goods and services. Governments provide infrastructure and an operating environment. And ordinary Nigerians have been buying Dangote products for decades. Now, Nigerians are being invited to take another step—from being customers to becoming owners.
The public offering of shares in the Dangote Petroleum Refinery gives ordinary Nigerians an opportunity to put their money into one of the country's biggest industrial projects. That opportunity comes with risk, of course. Nobody should invest money they cannot afford to lose, and nobody should assume that buying shares automatically guarantees wealth.
But there is a bigger principle here.If Nigerians are going to put their money into Dangote's business, Nigerians should also have a meaningful opportunity to participate in the wealth that business creates.
Don't Take Nigerians for Granted
Alhaji Dangote, Nigerians have supported your businesses.They have bought your cement.They have bought your sugar. They have bought your flour. They have bought countless other products connected to your business empire.Nigerian workers have built factories, transported products, operated plants, sold products and provided services.
Now, ordinary Nigerians are being asked to invest directly. That creates a responsibility—not merely to shareholders, but to the broader Nigerian public.
Don't take Nigerians for granted. Treat the small investor with the same seriousness you would give the institutional investor. Give shareholders transparency. Give them accountability. Give them information. Give them confidence that their money is being managed responsibly. And when the business succeeds, shareholders should have the opportunity to benefit from that success.
Your Greatest Legacy Should Be Bigger Than Your Net Worth
There is nothing wrong with becoming extraordinarily wealthy by building successful businesses.But there comes a point when the conversation should move beyond “How much is Dangote worth?" The more interesting question becomes:How many people became wealthy because Dangote built these businesses?
Imagine the impact if hundreds of thousands of Nigerians who invest today eventually build substantial wealth from their investments. Imagine a young Nigerian who starts with a modest investment and, over decades, builds an investment portfolio capable of paying school fees, buying a home, funding a business or securing retirement. Imagine Nigerian families passing shares from one generation to another. That is how an ownership culture is created.And Nigeria desperately needs an ownership culture.
We Need More Than One Dangote
Nigeria does not simply need another Dangote. Nigeria needs 10,000 Dangotes in different industries.
We need Nigerians who build technology companies, manufacturing companies, agricultural businesses, energy companies, financial institutions, pharmaceutical companies and global brands.But we also need millions of Nigerians who can become shareholders in those businesses. A country becomes economically stronger when wealth creation spreads beyond a handful of extraordinarily wealthy individuals.
The refinery therefore presents an interesting test. Can a Nigerian industrial giant create not just a massive fortune for its founder, but also a new generation of Nigerian investors? Can ordinary Nigerians who put their money into the company eventually look back and say:I was there when it started, and I benefited from its growth”?
That would be a powerful story.
From Billionaire to Wealth Creator
Dangote has already demonstrated that he knows how to create enormous corporate value. The next challenge is different.Can he help create enormous shareholder value for ordinary Nigerians?That is where the conversation about his $51.3 billion fortune becomes relevant.
If one man's wealth can grow by tens of billions of dollars, Nigerians are entitled to ask whether the people who invest alongside him can also experience meaningful wealth creation. Not necessarily overnight.Not necessarily without risk. But over time.That is what investing is supposed to be about.
The Question Nigerians Should Keep Asking
So, Alhaji Dangote, congratulations on reaching another extraordinary milestone.But don't stop at building your own fortune. Build an ecosystem in which others can build theirs. Don't let Nigerians remain merely consumers of Dangote products. Make them owners. Don't let the story end with one Nigerian becoming one of the world's richest people. Let the next chapter be about thousands, perhaps millions, of Nigerians building meaningful wealth through ownership and investment. Because the real measure of an economic giant is not only how high the founder climbs. It is how many people rise because of the platform he created.
So here is the question Nigerians should be asking: Aliko Dangote, OPM has helped take you to the 36th richest person in the world. Now that Nigerians are putting their own money into your empire, how many of those investors will you help turn into millionaires—and, ultimately, billionaires? That is the legacy question.
By Emmanuel Emeke Asiwe (EEA) Publisher/Editor-in- Chief)
In The Spotlight
Mixed metaphors: Eating them young
On this page, I have praised former Minister Nasir el-Rufai for his work in the Federal Capital Territory.
As governor, I praised some of his work, including when he fired state teachers. I also criticised him when he became arrogant and presumptuous.
Powerful people tend to misjudge distance, in terms of how long they will remain powerful, as well as the depth of their relevance, measuring how power, once in the hands of others, can remain in their favour.
El-Rufai made both miscalculations. Following over two decades of untouchability in power from Olusegun Obasanjo to Muhammadu Buhari, he has now spent 200 days in pre-trial detention on ICPC and DSS charges.
This should not happen to a citizen, any citizen. But some citizens, when fate grants them the winning lottery ticket, become Cronus, the Titan in Greek mythology who, to maintain his power, swallowed five of his six children soon after birth.
But not Zeus, his youngest son, who miraculously survived and, becoming the supreme ruler of the Olympian gods and the “Father of Gods and Men, “would exact vengeance.
In power, el-Rufai forgot not only the principle of right and wrong, but also the concept of justice.
But it was right there the whole time: on the flip side of injustice. The truth is that wearing glasses to be able to see arms, nobody to see through clouds.
Last Tuesday’s disruption by political thugs of the visit to Benue State of Peter Obi, the presidential candidate of the Nigeria Democratic Congress, is an early reminder of the temptations of power in a Nigerian election year.
The ruling party controls the state, which is in the thick of Nigeria’s insecurity crisis. Its governor, Hyacinth Alia, is a Catholic priest. Having, in 2025, been involved in trying to prevent the same Obi from a humanitarian visit, claiming that his intervention was purely on security grounds, Mr Alia is trying to persuade the country that his are not the hands behind the crude attempt to stop, particularly Mr Obi, from travelling freely and safely in the state.
As Minister Festus Keyamo wisely said, this kind of menace is not a part of our democracy. Mr Alia, show the world your strengths, not your limitations.
Big news: the 2024 Auditor-General’s Non-Compliance report, published last month, identified over N1.34trn in audit lapses.
It found that the National Cash Transfer Office paid N33.751 billion to 3,295,207 households in 35 states in 2023 with no evidence that the money reached genuine beneficiaries.
The Office could not produce REMITA records to authenticate the payments. SERAP has written to President Tinubu demanding a published audit trail and investigation of the flagged N78.8bn in total irregularities.
Similarly, Femi Falana (SAN) has called on the EFCC to investigate and prosecute officials.
Given that we are dealing with a specific regime of governance coated in colours of ruthlessness, it is doubtful that these calls will yield anything.
The truth is that the situation is worse than what we know so far, and so, I have a different call: that Nigerians pay close attention to what is actually a long-running looting spree of our poorest and most vulnerable. There is a scorched-earth assault going on.
I begin in 2019, the start of the second term of the fake anti-corruption champion Muhammadu Buhari:
The Auditor-General’s 2019 report on the FGN Consolidated Financial Statements discovered that 36 MDAs made individual transfer payments,totalingN15,534,467,561.26, without identifying the beneficiaries, ignoring the relevant budget lines for “Transfers–Payment to Unemployed” and “Transfers–Payment to Aged/Vulnerable Group.” The Auditor-General flagged the risk of “diversion of public funds” and “misapplication of funds.”
The 2020 report is more curious. In the MDA-by-MDA budget-performance schedule, the National Social Investment Office shows: Approved Budget N0.00, Supplementary Budget N0.00, Total Budget N0.00, but the actual spending is N275,010,764,595.02! That is, the NSIO somehow recorded spending N275bn with no budgetary authorisation at all.
Surely, somebody has an explanation?
The 2021 Non-Compliance report, Volume II, found under the Ministry of Humanitarian Affairs that N54,630,000,000 in N-Power Batch C1 stipends (the August–December 2021 backlog) was recorded as paid but, per the Auditor-General’s own field visits, “was not actually effected to the beneficiaries.”
The same section found N2,617,090,786 paid for the National Home-Grown School Feeding Programme (COVID-19 period), the Auditor-General recommending full recovery to the Treasury: a combined N58.05bn flagged in that one ministry in that one year.
Surely, somebody has an explanation?
The 2022 Non-Compliance file is titled as Volumes I and II merged, but despite that filename, Volume II appears to be absent, as it excludes Humanitarian Affairs, NSIPA, NCTO or NASSCO, meaning that their work was either not audited at all, or that that specific audit has yet to be published.
Again, and similarly, despite examining the two volumes of the 2023 Non-Compliance report, neither the Ministry of Humanitarian Affairs, NSIPA, NCTO, NASSCO, N-Power, GEEP nor school feeding appears anywhere, although many other agencies were thoroughly audited.
Surely, somebody has an explanation?
That brings us to the 2024 itemised findings SERAP has publicized: N33.751bn in cash transfers with no beneficiary confirmation; N36.744bn paid in December 2023 without prepayment audit; N4.616bn in unsupported expenditure which the Auditor-General says “may have been diverted”; N350.18m in enrolment payments to state coordinators with no supporting documentation; N89.51m for store items never delivered or logged; N17.42m in diesel cash advances with no traceable purchases; and at NASSCO, N2.24bn paid through 158 vouchers without prepayment audit.
These appear to be the patterns that Nigerian MDAs exhibit in their work every year, with vulnerable Nigerians exploited every year.
But the first challenge is for journalists to track Humanitarian Affairs/NSIPA through every audit year to establish the full carnage.
There is another crisis: that despite all of this, a lot of MDAs still fail to submit audited accounts to the Auditor-General, representing one of Nigeria’s worst accountability challenges. This is a problem that worsened significantly under the Buhari administration despite his anti-corruption rhetoric. According to the Auditor-General, the 2016 audit year saw the highest number of non-submissions (324) in modern Nigerian history: more than double the previous 22-year high of 148. In 2016-2017 alone, 436 agencies failed to submit accounts. Think about that.
President Bola Tinubu is in the middle of a three-week foreign trip, departing without formally informing the National Assembly or handing over to Vice President Shettima, violating the constitution.
For a man who is seeking a second term of office, this is a stark reminder of how little the rules, or for that matter, Nigeria, really matter to Mr Tinubu. Keep in mind that when he headed north, Mr Shettima headed south, to Angola.
The general debate of the 81st United Nations General Assembly will begin on 22 September. Mr Tinubu is scheduled to speak the following morning.
At a time of chaos and doubt in his leadership, and in democracy under his watch, he will confront the theme: “Restoring trust, managing transformation: a United Nations that delivers for all.”
By Sonala Olumhense