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SERAP Urges Tinubu to Probe $1,5bn World Bank Loan to States, $3bn Chinese Loan

Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu, to direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN) and appropriate anti-corruption agencies, to promptly and thoroughly investigate the spending of $1.5bn World Bank loan obtained by the 36 states and Abuja for poverty reduction and social protection across the states.

SERAP said, “Suspected perpetrators of corruption and mismanagement should face prosecution as appropriate, if there is sufficient admissible evidence, and any proceeds of corruption should be fully recovered.”
SERAP also urged him to direct Fagbemi and appropriate anti-corruption agencies to promptly investigate the alleged mismanagement of the Chinese loans of $3.121bn obtained by the Federal Government.
In the open letter dated 10 August 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said ensuring accountability for the spending of World Bank loans and Chinese loans, would build trust in democratic institutions with the ultimate aim of strengthening the rule of law.
“Impunity for corruption in the management of World Bank loans and Chinese loans will continue as long as high-ranking public officials go largely unpunished for their alleged crimes.
“It is by pursuing these allegations and taking the evidence before the court that the truth will be revealed and justice best served.
“There are reports that the $1.5bn World Bank loan to the 36 states and Abuja and the $3bn Chinese loans obtained by the Federal Government may have been mismanaged or diverted, and in any case remain unaccounted for.
“Investigating and prosecuting allegations of corruption and mismanagement in the spending of World Bank loans and Chinese loans would be entirely consistent with the Nigerian Constitution, and the country’s international anti-corruption obligations.
“We note that while a governor may enjoy immunity from arrest and prosecution, he does not enjoy immunity from investigation. Any criminal allegation against a sitting governor can and should be investigated pending the time the governor leaves office and loses immunity.
“The findings of such investigation can also be the basis for initiating impeachment proceedings against the governor.
“Your government has the legal obligation to ensure accountability for the spending of the loans obtained from the World Bank and China. SERAP is concerned about the continuing lack of transparency and accountability in the management of World Bank loans and Chinese loans obtained by the states and the Federal Government.
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.
SERAP said it is concerned about years of allegations of corruption and mismanagement in the spending of World Bank loans and Chinese loans obtained by Nigeria’s 36 states and the Federal Government, as well as the entrenched impunity of perpetrators.
“These allegations have undermined the ability of governments at all levels to address the debilitating poverty and economic inequality across the states and the Federal Capital Territory.
“Section 15(5) imposes the responsibility on your government to ‘abolish all corrupt practices and abuse of power’ in any part of the country. Section 15 defines ‘government’ to include the government of the federation, or of any state, or of a local government council or any person who exercises power or authority on its behalf.
“The Nigerian Constitution and human rights treaties to which Nigeria is a state party impose obligations on your government to probe and prosecute allegations of corruption in the spending of World Bank loans and Chinese loans, and to ensure access to justice and effective remedies for victims of corruption.
“Allegations of corruption and mismanagement in the spending of these loans and other loans have rendered already impoverished citizens incapable of satisfying their minimum needs for survival.
“Prevention of corruption in the spending of World Bank loans and other loans are serious and legitimate public interests. There is a legitimate public interest in ensuring justice and accountability for alleged corruption and mismanagement in the management of these loans.
“According to our information, the World Bank on 15 December 2020 approved a $1.5 billion loan for Nigeria’s 36 states and Abuja for social protection and strengthened state-level COVID-19 response. The loan aims to help the states and Abuja build a resilient recovery post-COVID19 and to reduce poverty.
“Specifically, the loan aims to increase access to basic education, quality water and sanitation services; improve primary healthcare; and increase the coverage and effectiveness of social assistance programs, promote women’s empowerment and reduce maternal and child mortality across the states.
“The $1.5 billion World Bank loan is for two projects. The first is Nigeria Covid-19 Action Recovery and Economic Stimulus – Program for Results (Nigeria CARES) which aims to help increase access to social transfers and basic services, as well as provide grants to poor and vulnerable households. The project is financed through an International Development Association (IDA) credit of $750 million.
“The second is the State Fiscal Transparency, Accountability and Sustainability Program for Results (SFTAS), which aims to help increase the efficiency in spending, strengthen revenue mobilization, and enhance accountability in public resource management to strengthen state-level COVID-19 response.
“The project is financed through an International Development Association (IDA) credit of $750 million.
“According to the Debt Management Office, the total borrowing by Nigeria from China was USD$3.121 billion, as of March 31, 2020. The USD$3.121 billion loans are for 11 projects including the Nigerian Railway Modernization Project (Idu-Kaduna section); and Abuja Light Rail Project.
“Others include the Nigerian Four Airport Terminals Expansion Project (Abuja, Kano, Lagos and Port Harcourt), Nigerian Railway Modernization Project (Lagos-Ibadan section) and Rehabilitation and Upgrading of Abuja – Keffi- Makurdi Road Project.
“According to the Debt Management Office, Nigeria’s total public debt stock, including external and domestic debts, increased by ₦24.33 trillion in three months alone, from ₦97.34 trillion ($108.23 billion) in December 2023 to ₦121.67 trillion ($91.46 billion) as of March 31, 2024.
“The debt represents external and domestic loans obtained by the Federal Government, the 36 state governments and the Federal Capital Territory (FCT).”
News
NITDA Strengthens Collaboration with NIPSS to Drive Digital Innovation, Orange Economy Growth

The National Information Technology Development Agency (NITDA) has reinforced its commitment to advancing Nigeria’s digital transformation agenda through strengthened collaboration with key strategic institutions, as it hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course (SEC) 48, 2026.

The visit, which builds on an earlier strategic study tour, provided a platform for in-depth engagement on the role of digital innovation in driving sustainable economic growth, with particular focus on the Orange Economy.
Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Director of Stakeholder Management and Partnerships, Dr Aristotle Onumo, highlighted the Agency’s commitment to fostering a vibrant digital ecosystem through inclusive policies, strategic partnerships, and capacity development initiatives.
“NITDA is committed to creating an enabling environment where innovation can thrive by bringing together government, private sector, academia, and creatives to drive Nigeria’s digital economy,” he stated.
Inuwa underscored the growing importance of the Orange Economy, describing it as a critical driver of innovation and economic value through intellectual property. He identified sectors such as digital content creation, film, animation, and digital art as key contributors to national development.
“The Orange Economy represents a powerful opportunity to transform our rich cultural heritage and creativity into sustainable economic growth,” he noted.
He further highlighted Nigeria’s unique advantage, particularly its youthful and creative population, while calling for stronger collaboration among stakeholders to fully harness the sector’s potential.
“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” he added.
During the engagement, NITDA also presented its strategic initiatives aimed at supporting the digital and creative sectors, including digital infrastructure development, promotion of digital literacy, and implementation of policies that enable startups and innovators to scale.
Addressing challenges facing the sector, Inuwa pointed to issues such as limited access to funding, infrastructure gaps, weak intellectual property protection, and ecosystem fragmentation, while emphasising the need for coordinated action.
“Addressing challenges such as funding gaps, infrastructure deficits, and intellectual property protection is critical to unlocking the full potential of Nigeria’s creative economy,” he said.
The Agency reiterated its target of achieving 70 per cent digital literacy by 2027, noting that ongoing programmes are equipping millions of Nigerians with essential digital skills, including those in underserved and informal sectors.
In his remark, Professor Omotayo described the visit as an important opportunity to deepen understanding of how digital technologies are reshaping economic sectors, particularly the creative industry. He noted that the insights gathered would contribute significantly to policy recommendations aimed at strengthening Nigeria’s economic framework.
Participants of the SEC 48 programme engaged actively during the session, raising questions on capacity development, access to tools, and frameworks for protecting digital content. NITDA highlighted its ongoing collaborations with industry stakeholders to provide training, innovation hubs, and access to digital tools for young Nigerians.
The engagement concluded with a renewed commitment from both NITDA and NIPSS to strengthen collaboration in research, policy development, and capacity building, aimed at positioning Nigeria as a globally competitive force in the digital and creative economy.
News
NRS Takes Over Mineral Royalties Collection Under New Tax Laws

Nigeria Revenue Service (NRS) has assumed responsibility for collecting mineral royalties from mining operators nationwide, following new tax laws effective January 1, 2026.

NRS
The shift emerged from a Thursday meeting between Solid Minerals Development Minister Dele Alake and NRS Chairman Dr. Zacch Adedeji. Their joint statement, endorsed by both, confirms NRS now administers all federally collectible revenues, including royalties.
Enacted by President Bola Tinubu on June 26, 2025, the Nigeria Tax Laws 2025 empower this transition. The Ministry of Solid Minerals Development remains a key partner, supplying pricing data, geological insights, and sector coordination.
NRS Special Adviser Dare Adekanmbi’s statement outlines collaborative steps: a nationwide sensitization program for operators on filing and payments; development of a digital royalty system; and regular joint technical sessions to address issues.
Both agencies pledge orderly, transparent implementation to boost the mining sector. Operators must comply with obligations and join upcoming programs.
The move aims to streamline revenue collection while fostering mining growth.
News
Microsoft Revamps Copilot in Workplace AI Push

Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.
The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.
Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.
Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.
“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.
Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.
A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.
The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.
Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.
The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.
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