Dear Great People of our nation,
1.I greet and felicitate with you all as we enter the New Year today. As we mark the beginning of this New Year, 2015, a new nation is being born. A new nation is being born because of the foundations we have all laid, working together for the good and progress of our dear fatherland.
2. I join you all in thanking God Almighty who has brought us this far, for continually bestowing His Grace upon us and for guiding our great nation safely through all the challenges of the past year.
3.This year, as in the year past, I reaffirm my commitment to work to ensure a secure future for our dear country and the generations yet unborn.
4.Last year, we celebrated our hundredth year of nationhood. The year brought us further progress, challenges and fresh opportunities.
5.We have contended with the normal challenges of nation-building and the unusual challenges of terrorism.
6.But we have continued to vigorously confront those who seek to destroy the bonds of unity that hold us together.
7. On this first day of the New Year, I want to pay special tribute to the gallant officers, men and women of our Armed Forces and other security agencies who have been in the forefront of the war against terrorism and violent extremism in our country and sub-region.
8. I also commend all Nigerians who have remained vigilant and cooperative with our security agencies in the fight against the common enemy.
9. We are re-equipping and re-positioning our armed forces to enhance their capacity to win the ongoing war against terror and insurgency.
10.Regrettably, terrorists have unleashed much pain and agony on our land. They have made widows of our mothers and sisters and orphans of our children. They have shut down businesses, desecrated places of worship and brought untold hardship to both men and women. They have violated the culture and peaceful way of life in our country, which took generations to build.
11.They have destroyed countless schools and displaced people from their communities, driving them into exile.
12.I want to assure you that the terrorists will not get away with their atrocities: they will not win; they will be routed. As President, I feel the pain of all affected communities and families. I hear their cries and share their sorrow and pain.
13. We will not forget; we will not look the other way. We have done a lot of painstaking planning and work to resolve the current security challenge. We will bring justice to the savage terrorists known as Boko Haram. They will be defeated.
14.That is the solemn commitment I make today as President of the Federal Republic, and Commander-in-Chief of our Armed Forces.
15.By the Special Grace of God, the Federal Government, under my leadership, has continued, in the past four years to lead our country forward, even under the most trying circumstances.
16.The progress we have made in priority areas bears us testimony.
17. Amongst other achievements, we have rehabilitated and expanded our rail transportation network, successfully privatized power generation and distribution, significantly reformed and increased local participation in our oil and gas industry, and improved nationwide access to potable water from 57% in 2010, to 70% at present.
18.We have also made significant progress in improving access to primary, secondary and tertiary education by building and equipping more schools, including special Almajiri schools, and establishing additional universities to ensure that each state of the nation now has at least one Federal University.
19. Our national economy maintained a steady growth rate of close to seven per cent in the past four years and millions of fresh employment opportunities were created for our people as a direct consequence.
20.Recently, we launched the Youth Employment in Agriculture Programme (YEAP) and the $100 million dollars Government and Donor Fund for Agriculture Finance in Nigeria (FAFIN) to fast-track the positive transformation of our agricultural sector.
21.The Youth Employment in Agriculture Programme (YEAP) targets 750, 000 market-oriented young agricultural producers while the $100 million dollars Fund is to provide affordable long-term financing to support the development of small and medium agribusinesses in the country.
22. This is in addition to a N50 billion Farm Mechanization Support Fund set up by the Central Bank to establish 1,200 agricultural equipment-hiring enterprises.
23. Both funds will become fully operational this year. Policies and programmes such as these to boost agricultural production remain topmost on the agenda of this administration.
24. Being very conscious of the inherent perils of our over-reliance on income from crude oil exports for national development, we have focused on accelerating the diversification of our economy.
25. The non-oil Sector which has grown by an average of 8% in the last few years, is now a major driver of growth in our economy.
26. The 2015 national budget, which is now before the National Assembly, is targeted at deepening our efforts at becoming a non-oil economy.
27. The budget also includes measures to ensure that the downturn in the price of oil does not affect our development plans and our national economy too adversely. We are adjusting our financial processes to safeguard our economy. We are also taking steps to ensure that the poor and the low and medium income earners do not bear the brunt.
28. In 2015, this administration will continue to lay the foundation for a vibrant economy that attracts significant Foreign Direct Investment and promotes policies that ensure economic stability.
29. We will ensure stability in the value of the Naira by striving to take away speculative behaviours that cause market exchange pressures.
30. We will continue to build and maintain a healthy external reserves position and strengthen fiscal buffers. We will ensure the Naira remains strong, and gives foreign investors the clarity and certainty that they need, to guide future investment decisions.
31. We will continue to improve our payment systems and strengthen risk-based supervision mechanism for Nigerian banks to ensure overall health and stability of the banking system.
32. We are introducing a broad spectrum of financial instruments to boost sector-specific enterprise areas in agriculture, Micro, Small and Medium Scale Enterprises (MSMEs), manufacturing, and oil and gas to enhance our aggregate supply capacity, reduce poverty, promote job creation and increase the general well-being of our people.
33. These efforts and other measures being spearheaded by relevant Ministries, Departments and Agencies, are geared to ensure a secure future for Nigeria and create a much more prosperous country, where people live more peaceful and fulfilled lives.
Fellow countrymen and women,
34. As we enter an election year, I assure you that our administration will remain fully focused on providing good governance and the delivery of better public services to our people.
35. The coming campaigns and elections will not distract us from our ongoing work to significantly improve the living conditions of our people. And I urge all tiers of government not to be distracted as well.
36. The elections are very important for us as a country. Their successful conclusion will further strengthen our democratic institutions and place our beloved country even more firmly in the comity of truly democratic nations.
37. Given the challenges that have characterized some previous electoral contests in our country, the eyes of the world will certainly be on the conduct and outcome of our fifth post-military rule general elections.
38. I reassure all Nigerians and the international community of our firm commitment to free, fair and credible elections. My commitment to free elections and one man, one vote remains unwavering.
39. Our administration has worked hard in previous elections to prepare all key stakeholders including the Independent National Electoral Commission (INEC), security agencies and the electorate optimally, to ensure a progressively improved electoral process in the country under my watch. We will continue to do so for the coming elections.
40. We will continue to provide adequate funding to INEC and maintain the Commission’s independence and isolate it from any form of interference or meddling in its day-to-day affairs. This shall continue to guarantee its impartiality and ability to conduct more credible and acceptable elections.
41. National security agencies will also be given all necessary support to enhance their ability to ensure that the elections are peaceful and violence-free. The Nigeria Police has already established an Elections Security Planning and Monitoring Unit.
42. I am optimistic that with the cooperation of all law-abiding citizens of the country, our commitment to have a peaceful and violence-free election will be actualized.
43. I will like to say this, once again, to my fellow politicians and political leaders. None of our political ambitions is worth the blood of any of our countrymen, women and children. The improvement of their lives and living conditions ought to be our primary motive and the driving force of our quest for political power and leadership positions.
44. Let us not promote sectionalism, disunity, intolerance, hate, falsehood or the malicious abuse of political opponents. Whatever we feel or seek, we must have a nation and a people before we can dream of political ambitions. Let us put the nation and the people first.
45. Let us all conduct our electoral campaigns with the highest possible decorum and civility towards political opponents. Let us give INEC the fullest possible support and cooperation it requires to conduct credible and violence-free elections in 2015.
46. After the 2011 general elections, some unpatriotic elements embarked on an orgy of violence, resulting in the destruction of lives and property. That will not be allowed to happen this time around. This government will act decisively against anyone who disrupts the public peace, before, during or after the 2015 general elections.
47. All Nigerians, of voting age, are free to vote based on their convictions. It is our duty to defend and protect that basic right, and let no one be in doubt, we will.
48. Fellow Nigerians, I urge all of you to enter the New Year with renewed zeal and patriotism, to serve our fatherland with love, honesty, faithfulness and hope for a greater tomorrow.
49. As I have always maintained, none of the challenges before us is insurmountable. We must come together as a people and work with single-minded unity of purpose to overcome them.
50. Nigeria is a key country in Africa. We must work together to maintain our strategic position and collaborate with others to move the continent forward. I call for peace in Africa and an end to all conflicts in our continent. I urge all Africans to promote democracy in their respective countries to ensure faster development of the continent and faster economic and political integration.
51. We will continue to pray and offer hands of fellowship and assistance to our fellow Africans suffering from the Ebola Virus Disease. I urge all Nigerians to show compassion and contribute in whatever way we can to help our African brothers and sisters.
52. As we go into this New Year, I salute the indomitable and resilient spirit of our people in Nigeria and wherever they are in the world. Our spirit of enterprise and the doggedness to succeed amongst all odds has been our strength.
53. With our collective prayers and efforts, we will grow our economy and our people will become wealthier. Government will continue with programmes deliberately designed to create more jobs for our youth, to enable them contribute more to the growth and development of our nation.
54. Let us continue our march to the future, towards the attainment of our collective vision of a strong, united, prosperous and harmonious nation – a secure nation for us and for our coming generations.
55. I wish you all a happy and fulfilling 2015.
56. God bless the Federal Republic of Nigeria.
57. Happy New Year, Nigeria!
58. I thank you all.
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Petrol Hits ₦1,470: ADC Warns ‘Nigerians Are Choking’
Nigerians are being pushed deeper into economic hardship as petrol prices climb as high as ₦1,470 per litre, with the African Democratic Congress (ADC) warning that families and businesses are being driven to breaking point.
The opposition party accused President Bola Tinubu’s administration of piling fresh pressure on Nigerians already struggling with soaring living costs.
In a strongly worded statement signed by its National Publicity Secretary, Bolaji Abdullahi, the ADC said the rising petrol price was triggering a chain reaction across the economy.
“President Tinubu has turned the petrol pump into an instrument of punishment for everyday Nigerians,” the party declared.
According to the ADC, the impact is being felt far beyond filling stations, with higher fuel costs feeding into transportation, food, electricity, education and business expenses.
‘NO MORE HOLES LEFT’
The party also cited reports of private schools increasing fees by 30 to 40 per cent, arguing that most parents have not seen comparable increases in their incomes.
“Parents are not earning 40 per cent more,” the ADC said, pointing to the simultaneous rise in fuel, food, rent, transportation and education costs.
The party said school proprietors were also under pressure from higher electricity bills, taxes, fuel costs, rents and salaries.
But it warned that the combined burden was becoming unbearable for households.
“At ₦1,470 per litre, petrol is no longer simply a commodity. It is a Tinubu Tax,” the ADC said.
The party further claimed that some Nigerians are now skipping meals, withdrawing children from school, delaying medical treatment and shutting down businesses because of mounting costs.
“Under Tinubu and the APC, Nigerians have been tightening their belts. Now, there are no more holes left, and people have started to choke,” the party said.
‘REFORM IS NOT WORKING’
The ADC also attacked the government's economic reform programme, arguing that policies that increase hardship without corresponding improvements in household incomes cannot deliver meaningful relief.
“A reform that continuously makes the people poorer is not working,” the party declared.
It accused public officials of demanding sacrifices from ordinary Nigerians while allegedly maintaining extravagant lifestyles at public expense.
“When parents must choose between feeding their children and educating them, the government has failed spectacularly in its most basic responsibility,” the ADC said.
2027 BATTLE LINE DRAWN
With the 2027 presidential election approaching, the ADC sought to draw a clear contrast between Tinubu’s economic policies and the programme proposed by its presidential candidate, Atiku Abubakar.
The party reiterated Atiku’s proposal to restore fuel subsidy while supporting domestic fuel production, saying this would help reduce the cost of transportation, food and production.
“Economic reform must serve the people, not sacrifice them,” the ADC said.
The party also warned the ruling APC not to mistake Nigerians’ resilience for approval.
“Our resilience must not become an excuse for continued cruelty,” it said.
The ADC concluded with a direct appeal to the President:
“Tinubu has had enough time and inflicted enough pain. The people are suffering, businesses are dying, and hope is becoming increasingly expensive. President Tinubu must act now. Don’t push Nigerians to their limits.”
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
Editorial:The War Behind the War
Nigeria is building a bigger army. But if the reports of secret talks with Boko Haram are true, Abuja may be fighting a very different war behind closed doors.
Nigeria is preparing for war.Thirty thousand more soldiers. Four new Army divisions. More troops, more formations, more firepower. The message from Abuja is unmistakable: the insurgency will be crushed. But somewhere behind that declaration of war lies a far more uncomfortable possibility. What if Nigeria is also negotiating with the enemy?
That is the question raised by reports surrounding the release of roughly 360 civilians abducted in Borno State after the attack around Ngoshe. The government has not publicly acknowledged a secret ceasefire with Boko Haram. It has also denied allegations that ransom was paid. Those denials matter. So do the allegations.
Because if the reported arrangement is accurate, Nigeria's counterterrorism strategy may be entering a dangerous new phase—one in which the government fights insurgents in the open while talking to them in the shadows. And that is where the real danger begins.
The price of getting people home
For the families of the abducted, there is no grand strategy. There is only one question:Are they alive?
If negotiations helped bring hundreds of civilians home, families are unlikely to complain about the method. They wanted their husbands, wives, children and relatives back.That is the brutal arithmetic of hostage-taking. But governments cannot afford to think only about the hostage in front of them.They must also think about the hostage who may be taken tomorrow.
The allegation of a ₦5 billion payment, if ever substantiated, would therefore be explosive—not merely because of the money, but because of the precedent. If an armed group discovers that kidnapping civilians can produce cash, concessions or a pause inmilitary operations, kidnapping stops being merely a weapon.It becomes a business model. And Nigeria already has too many kidnappers.
The contradiction at the heart of Abuja's strategy
Here is the paradox. President Bola Tinubu is expanding the machinery of war at precisely the moment reports suggest that government-linked actors may have been talking to Boko Haram.
So which is it? War or negotiation? The uncomfortable answer may be: both. And perhaps that is not necessarily irrational.
Governments negotiate when lives are at stake. They gather intelligence through contacts. They explore defections. They communicate with enemies even while fighting them. Military pressure can strengthen a government's negotiating position. Negotiations can save lives while military operations continue elsewhere.
But there is a line between using talks as a tactical instrument and allowing negotiations to become a substitute for strategy.Nigeria must know where that line is.
The ceasefire question
A temporary halt in fighting sounds harmless until you ask what happens during the silence. Insurgents do not necessarily see a ceasefire as surrender. They can see it as breathing space. Time to move fighters.Time to acquire supplies.Time to recruit.Time to reorganise.Time to recover from military pressure.
In an insurgency, a few quiet months can be worth more than a few square kilometres of territory.
That is why the most important question surrounding the reported Ngoshe arrangement is not simply whether fighting stopped.
It is this:What did Boko Haram do while it stopped? If the group used the pause to regroup, then a humanitarian success may have carried a strategic cost.If it did not, then perhaps the negotiations achieved precisely what they were supposed to achieve. Nigeria deserves to know.
Who was talking?
This may be the biggest unanswered question of all. There is no established evidence that President Tinubu personally negotiated with Boko Haram. Claims of a secret presidential deal should therefore not be presented as fact.
But if government representatives did negotiate a truce, somebody authorised those contacts. Somebody decided that talking was preferable to shooting.
Somebody determined what could be offered—and what could not.That chain of authority matters.Because secrecy may sometimes protect an operation.
It should not become a permanent shield against accountability. The government does not need to publish intelligence that would endanger hostages or expose sources.
But Nigerians have a legitimate right to know whether their government has paid terrorists, granted concessions or entered into ceasefires.
The Army is getting bigger. The questions are getting bigger too.
Tinubu's decision to expand the Army reflects the scale of Nigeria's security crisis.Boko Haram and ISWAP remain threats in the northeast. Banditry and kidnapping continue elsewhere. The military is being asked to fight on multiple fronts across a vast country. Thirty thousand additional soldiers will not, by themselves, solve an insurgency that has survived nearly two decades.
More soldiers can provide manpower.They cannot automatically provide victory. And this is where Abuja must be careful.
A government cannot tell Nigerians that terrorism will be defeated while simultaneously allowing armed groups to believe that kidnapping can open the door to profitable negotiations.
That sends two messages at once. One says:We will fight you. The other whispers:But if you take enough civilians, we may talk. For an insurgent organisation, that distinction can be very profitable.
Boko Haram is not the only player
There is another complication. Even if Abuja could reach a workable understanding with Boko Haram, Nigeria's jihadist problem would not disappear. ISWAP remains a separate and formidable force.
The northeast is not a chessboard with two pieces. It is a shifting battlefield of factions, commanders, rivalries and opportunistic alliances.
An agreement with one group can change the balance with another. An insurgent who signs a ceasefire today may defect tomorrow. A faction that loses influence may become more violent.
There are no guarantees in this kind of war. The danger of teaching terrorists the wrong lesson.This is ultimately what Abuja must worry about. Not simply whether a ransom was paid. Not simply whether a ceasefire happened. But what lesson the entire episode teaches.
If the lesson is that civilians can be kidnapped, government officials can be summoned to negotiations, money can change hands and military pressure can be reduced, then Nigeria risks creating an incentive for more abductions.
The country cannot afford that. Nigeria's kidnapping economy is already too deeply entrenched. Every concession to an armed group carries the possibility of becoming an advertisement for the next one.
Perhaps the hardest truth is this.
After 17 years of insurgency, Nigeria may have to confront a reality that governments have repeatedly resisted:There may be no purely military solution. That does not mean surrender. It does not mean rewarding terrorists.It does not mean abandoning military pressure. It means recognising that insurgencies are political, social and economic conflicts as well as military ones.But if Nigeria chooses negotiation, it must negotiate from strength and with clear objectives.
If it chooses war, it must understand what victory actually means. And if it chooses both, Nigerians deserve to know what the rules are.The shadows cannot govern forever. The reported Ngoshe arrangement may ultimately prove to be something very different from the allegations now circulating.
The ₦5 billion claim remains unproven.The alleged ceasefire has not been publicly established by the Nigerian government.
Those distinctions matter. But unanswered questions matter too. Who negotiated? Who authorised it? Was money paid? What concessions were made? Did Boko Haram use the pause to rebuild? And most importantly, what is Abuja's endgame?
Nigeria cannot fight a 17-year war indefinitely while pretending that every problem can be solved by another battalion, another operation and another military communiqué. Nor can it negotiate in secret indefinitely and expect the public to remain in the dark.
President Tinubu is building a bigger Army.
That may be necessary. But a bigger Army is not the same thing as a clearer strategy. The real test is whether Nigeria can use military power, intelligence, diplomacy and negotiation without allowing any of them to become a reward for terrorism.
Because the most dangerous battlefield may no longer be the one where the guns are firing. It may be the one where, behind closed doors, the price of peace is being negotiated.
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