News
Buhari’s Re-Election Dangerous To Economic Dev -HSBC …APC FG, Stinking Can Of Corruption -Timi Frank
Nigeria’s current economic struggles look set to continue if President Muhammadu Buhari wins a second term in office, the multinational banking and financial services company, HSBC, has said.
The company stated this in a report by its Global Research unit, entitled, “Nigeria, Papering Over the Cracks”, obtained by London-based Telegraph, yesterday.
According to the financial institution, although President Buhari’s “approval ratings sit near all-time low a development, it said, “largely reflects the impact of Nigeria’s painful recession in 2016-17 and the sustained economic hardship that has accompanied his presidency, including rapidly rising joblessness, and poverty,” the President will once again lead the APC into the 2019 elections.
It, however, stated: “A second term for Buhari raises the risk of limited economic progress and further fiscal deterioration, prolonging the stagnation of his first term, particularly if there is no move towards completing reform of the exchange rate system or fiscal adjustments that diversify government revenues away from oil.”
The multinational banking group, which is Europe’s largest by total assets, noted that while higher oil prices have brightened Nigeria’s macro outlook, boosting export earnings, improving the supply of foreign exchange, and supporting naira stability, the Buhari administration was yet to address the economy’s structural shortcomings.
Specifically, it said: “Economic growth remains sluggish and reliant on the rebound in oil output while the non-oil economy, which accounts for about 90 per cent of GDP, continues to languish with many service sectors still mired in contraction. Joblessness continues to rise, up almost three-fold in three years to 19 per cent in Q3 2017, pushing the number in poverty to 87million.
“Meanwhile, current account improvements may have pivoted on higher oil prices, but they also derive from on-going import restrictions and limited FX access for many sectors of the economy. All told, we see growth capped at about 2.5 per cent over the next two years – a welcome recovery from the 2016 contraction, but less than half the rate of the previous cycle.”
It further stated that in addition to failing to address the country’s ongoing reliance on oil revenues and the issue of inadequate nonoil tax collection, the administration was also grappling with the challenge of having a large share of its budget directed to debt service.
The company noted that while the Federal Government’s debt management strategy of issuing external debt to redeem more expensive short-term government securities is helping reduce debt service costs in the near term, it “exposes the fiscal position to exchange rate risk in the event of a future decline in oil prices and naira devaluation.”
In addition, it stated that high oil prices has not translated into nonoil growth, adding that: “Nigeria’s reliance on fuel imports means rising international oil prices are pushing up the cost of fuel subsidies, estimated by the Petroleum Products Pricing Regulatory Agency (PPPRA) at USD250m in May alone.”
Besides, HSBC projected: “Oil prices at current levels therefore suggest a fuel subsidy that could total $1.5billion in H2 2018, and about $2.5billion for the year as a whole, which would equate to almost 20 per cent of last year’s gross oil revenue.”
It, however, stated that while the, “polls look set to be a closely contested affair” and the, “political environment favours a return to power for the PDP, yet the opposition remains weak and fragmented, and has yet to declare its presidential candidate.”
The Senior Special Assistant on Media and Publicity to the President, Mallam Garba Shehu, declined comments on the report but referred our correspondent to the Chief Economic Adviser to the President.
However, the referral could not be reached as at the time of filing this report.
Meanwhile, former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, has described the President Muhammadu Buhari’s-led administration of a stinking can of corruption.
Frank was reacting to claims by the Chairman, Presidential Advisory Committee Against Corruption (PACAC), Prof. Itse Sagay, in an interview with a national daily, that President Muhammadu Buhari was being soft on corrupt politicians in his cabinet and within the All Progressives Congress (APC) in order to “win the 2019 elections” and to “strengthen democracy.”
In a statement signed, yesterday, Frank insisted that it is fraudulent to cover-up graft and protect accused persons – who occupy enviable positions in this regime – under the guise of ensuring the re-election of Buhari or strengthening democracy.
Frank noted that the recent defection of a former Governor of Akwa Ibom State, Senator Godswill Akpabio, from the Peoples Democratic Party (PDP) into the APC was one out of the multitude of allegedly corrupt politicians who have taken permanent refuge in the Buhari’s administration in order to escape the lawful prosecution for their nefarious deeds.
The Bayelsa-born politician said: “We know that that the allegations of false NYSC exemption certificate against the Minister of Finance, Kemi Adeosun, has since been swept under the carpet. The grass cutting scandal involving the immediate past SGF, Babacheer Lawal, remains a no go area. The bribery allegations against the Chief of Staff to the President, Abba Kyari does not warrant investigation and prosecution by a government claiming to fight corruption!
“Need I talk about the large-scale corruption being perpetuated by officials of the Central Bank of Nigeria (CBN) who have elected to operate varied exchange rates regime to defraud the country with the active connivance of their collaborators in the presidency.
“The corruption in the NNPC rightly exposed by the Minister of State (Petroleum), Dr. Ibe Kachikwu, does not warrant investigation because the presidency is involved in it.
“Only recently, N100billion tax evasion scam by Alpha Beta – a tax consulting firm owned by A chieftain of the APC, Asiwaju Bola Ahmed Tinubu, was exposed. Yet, the Economic and Financial Crimes Commission (EFCC) does not deem it fit to commence investigation into the activities of the company simply because an APC chieftain would be put in the eye of the storm!
“The Governor of Rivers State, Chief Nyesom Wike, has severally petitioned the EFCC with a call on the anti-graft body to investigate corruption allegations against the immediate past governor of the state, Chibuike Rotimi Amaechi – the Minister of Transportation under the Buhari’s administration -yet apart from acknowledging that it indeed received the said petitions, the EFCC has since turned a blind eye to the allegations,” he lamented.
He said while the government has been on asset-freezing-and-loot-recovery-spree, especially from the members of the opposition political parties or those considered to be anti-Buhari accused of corruption, the real looters in government and politicians with corruption allegations against them within the ranks of the APC are sitting pretty at ease enjoying underserved amnesty.
He said: “We know several top officials of this government and members of their families who have continued to acquire choice assets and those building mansions in their states of origin and abroad since they joined this government in 2015.
“Those perpetuating corruption under this government whose names have never been mentioned are legion compared to the few names mentioned above and very soon we shall expose them with concrete evidence to prove their corrupt activities.”
He called on the EFCC to immediately recommence the investigation and prosecution of all those with corruption baggage in President Buhari’s administration and the APC or lose its credibility both at home and abroad for ever.
He added that the EFCC and other security agencies will henceforth lack the moral right to prosecute members of the opposition political parties or any Nigerian accused of corruption should they fail to immediately prosecute the identified corrupt elements in this administration and the APC.
He also called on the international community to note clearly that Buhari is not fighting corruption but rather persecuting and repressing members of the opposition to remain in power, should he fail to order the prosecution of his cronies and party faithful with clear corruption allegations against them.
“These corrupt personalities hiding inside the government of Buhari and the APC will remain a test case for the EFCC as their investigation, arrest and prosecution or not will determine whether or not the anti-corruption policy of the Federal Government is genuine or a cheap political tool to retain power and remain relevant beyond 2019,” he declared.
City Crime
Ministry Raises Concern Over Rising Teenage Pregnancies, Begins Adolescent Sensitisation Campaign
The Department of Public Health in the Rivers State Ministry of Health has raised concern over the increasing cases of teenage pregnancies in society as it intensifies efforts to educate adolescents across the state.
Programme Manager for Adolescent Health and Development in the department, Mrs. Tammy Briggs, expressed the concern during a sensitisation programme held at Government Girls Secondary School Rumueme in Obio/Akpor Local Government Area of Rivers State.
Briggs explained that the campaign was designed to educate adolescents on the dangers of teenage pregnancy and other health-related issues affecting young people.
According to her, teenage pregnancy is currently on the rise, making it necessary for the ministry to step up awareness programmes among students.
“This is something that is on the rise for now. We have observed that there are many cases of teenage pregnancies, so we are here to sensitise them on ways to prevent it entirely,” she said.
She disclosed that the sensitisation campaign is being carried out in selected schools across four local government areas of the state, namely Obio/Akpor Local Government Area, Port Harcourt City Local Government Area, Ogba/Egbema/Ndoni Local Government Area and Eleme Local Government Area.
Briggs noted that the programme focuses on several key issues affecting adolescents, including sexual and reproductive health, gender-based violence, teenage pregnancy, substance abuse, emotional health and proper nutrition.
She added that the outreach programme also featured tuberculosis screening for students as well as the distribution of sanitary pads and mathematical sets to support their health and academic development.
The programme manager commended the management of Government Girls Secondary School Rumueme for their cooperation and support in hosting the sensitisation exercise. She also advised the students to avoid behaviours that could jeopardise their future.
Speaking during the session, Dr. Nwadike Chinonso urged the students to make informed decisions about their lives and remain focused on their education.
He cautioned them against engaging in early sexual activities, stressing that abstinence remains one of the most effective ways to prevent sexually transmitted infections and unintended pregnancies.
Some of the students who participated in the programme expressed appreciation to the team for the awareness campaign and pledged to apply the knowledge gained to make responsible life choices.
News
Extortion, Contraband Scandal Erupts At Kwale Custodial Centre
Disturbing allegations of extortion, intimidation and the smuggling of prohibited items have unsettled the Kwale Medium Security Custodial Centre (MSCC) in Delta State, prompting calls for urgent intervention by the national authorities of the Nigeria Correctional Service amid fears of potential security breaches within the facility.
The development was disclosed by a senior officer at the Delta State custodial facility, who expressed concern over what was described as entrenched irregularities capable of undermining discipline and operational standards at the centre.
According to the source, detailed findings compiled between December 2025 and January 2026 highlighted patterns of misconduct and warned of possible security consequences should the allegations remain unchecked.
At the centre of the claims is a powerful corrections official serving as Officer in Charge of the Kwale facility, accused of presiding over persistent financial extortion, high-handedness and the victimisation of inmates under his supervision.
The document further indicated that the alleged practices may have originated during the tenure of a former General Provost, reportedly with the collaboration of another senior custodial official within the system.
Intelligence details suggested that inmates were allegedly compelled to contribute funds for projects and items considered outside the statutory framework of inmate welfare, raising questions about compliance with established correctional guidelines.
Among the financial demands reportedly imposed were ¦ 300,000 for the repair of a Hilux vehicle, ¦ 600,000 for the purchase of a freezer and ¦ 750,000 for a generator allegedly designated for the Officer in Charge’s residence.
The report also alleged that inmates were required to make payments before being conveyed to court, while Awaiting Trial Persons in Cells One to Nine were directed to raise ¦ 30,000 per cell, with Convict Cells One to Three, including a designated VIP cell, similarly mandated to pay ¦ 30,000 monthly.
Observers noted that if substantiated, such practices would amount to grave breaches of professional ethics and custodial administration standards, eroding principles of fairness, transparency and inmate welfare within correctional institutions.
Beyond the financial allegations, the intelligence brief raised concerns over the purported possession of unauthorised communication devices, alleging that a serving General Provost had two Android phones while another influential inmate was also reportedly found with a mobile device.
The document further alleged that prohibited items, including alcoholic beverages, Indian hemp and other hard substances, may have been smuggled into the custodial yard under the guise of routine supervision duties, with security sources warning that the cumulative effect of extortion, intimidation and contraband trafficking has heightened tension within the facility.
In view of the gravity of the allegations, they called for an immediate and discreet investigation by the minister of Interior for immediate action to safe the life of inmates.
The administrative review of implicated officers, even as officials of the Nigeria Correctional Service had yet to issue an official statement, with stakeholders insisting that a transparent probe and decisive action are essential to restoring confidence and safeguarding institutional integrity at the Kwale Medium Security Custodial Centre.
News
SERAP Sues FG Over Phone-Tapping Rules
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the government of President Bola Tinubu at the ECOWAS Community Court of Justice over the government’s alleged failure to withdraw “unlawful mass phone-tapping rules” known as the Lawful Interception of Communications Regulations, 2019.
LICR 2019 is a regulation that authorises telecom licensees to install technology for security agencies to monitor communications, including voice, data, text, email, and browsing, for national security and to combat crime.
SERAP, in a statement signed by its Deputy Director, Kolawole Oluwadare, yesterday, said the suit followed allegations by former Kaduna State Governor, Nasir El-Rufai, that the phone conversation of the National Security Adviser, Nuhu Ribadu, was intercepted.
El-Rufai reportedly claimed, “The NSA’s call was tapped. They do that to our calls too, and we heard him saying they should arrest me.”
In the suit numbered ECW/CCJ/APP/11/26, filed last Friday at the ECOWAS Community Court of Justice in Abuja, SERAP is seeking “a declaration that the failure of the government to withdraw the Interception of Communications Regulations is unlawful and a violation of Nigeria’s international human rights obligations.”
The organisation is also asking the court to declare that the government’s failure to withdraw the regulations “constitutes an official endorsement of unlawful mass phone-tapping rules, as the Regulations are patently unlawful, and violate the rule of law, democratic principles, and the right to privacy.”
It is further seeking “an order directing and compelling the Nigerian government to immediately withdraw the Interception of Communications Regulations, and to commence a legislative process to ensure that any interception regulations are in conformity with Nigeria’s international human rights obligations.”
The suit, filed on behalf of SERAP by its lawyers Kolawole Oluwadare, Oluwakemi Oni, Valentina Adegoke and Maryam Mumuni, argued that “the Regulations establish a sweeping mass phone-tapping regime that violates Nigerians’ constitutionally and internationally guaranteed human rights, including to privacy and freedom of expression.”
“Where powers affecting fundamental human rights are exercised in secrecy and concentrated in political authorities without independent supervision, the risks of arbitrariness are substantial.
“Surveillance measures that lack strict necessity, proportionality and independent judicial oversight can easily be weaponised against political opponents, journalists, civil society actors and election observers,” it added.
SERAP also warned that the regulations raise concerns as Nigeria approaches the 2027 general elections, noting that broad interception powers could be abused during politically sensitive periods.
“In an electoral climate, even the perception that private communications are being monitored can chill political organising, investigative reporting and voter mobilisation.
“Free and fair elections depend on confidential communications, protected journalistic sources and open democratic debate. Any misuse of intercepted data for intimidation, political advantage or disinformation would fundamentally undermine Nigerians’ right to political participation and electoral integrity.
“As 2027 approaches, interception powers must be narrowly defined, subject to prior independent judicial authorisation and backed by effective remedies. Without robust safeguards, these Regulations risk threatening privacy rights, freedom of expression and the credibility of Nigeria’s democratic process,” the suit stated.
SERAP maintained that any restriction on the right to privacy must comply with the principles of legality, necessity and proportionality, arguing that the regulations fail to meet these requirements.
SERAP also cited the Office of the United Nations High Commissioner for Human Rights as stating that mass surveillance programmes based on indiscriminate and blanket collection of personal data are arbitrary and cannot satisfy the requirements of legality, necessity and proportionality.
The group said the Nigerian government has a duty to adopt clear laws, safeguards, independent oversight mechanisms and accessible remedies to prevent abuse by state agencies and private actors, including telecommunications providers and technology companies.
According to SERAP, the Nigerian Communications Commission (NCC) adopted the Lawful Interception of Communications Regulations, 2019 while exercising its powers under Section 70 of the Nigerian Communications Act, 2003.
The organisation argued that Regulation 4 grants broad discretionary interception powers to the National Security Adviser and the State Security Services, with little clarity on the scope or limits of such authority.
SERAP also pointed to inconsistencies within the regulations, noting that while Regulation 4 and Regulation 12 restrict interception powers to the NSA and SSS, Regulation 23 expands the category of authorised agencies to include bodies such as the Nigeria Police Force, National Intelligence Agency, Economic and Financial Crimes Commission, National Drug Law Enforcement Agency, and any other agency the commission may designate.
The organisation said this ambiguity undermines legal certainty and creates the risk of arbitrary application and abuse.
It also criticised provisions allowing interception without a warrant in certain circumstances, arguing that such powers are overly broad and susceptible to misuse.
SERAP further expressed concern that the regulations do not require authorities to notify individuals who have been subjected to surveillance, which it said weakens the ability of citizens to challenge unlawful monitoring.
The organisation warned that requirements compelling telecommunications licensees to install interception equipment and disclose encryption keys could undermine cybersecurity and discourage privacy-enhancing technologies.
SERAP acknowledged the government’s responsibility to address national security and organised crime but argued that such measures must remain within constitutional and international human rights limits.
No date has been fixed for the hearing of the suit.
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