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SERAP Seeks Spending Details Of $25bn CBN Overdrafts From 1999
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to “provide spending details of the overdrafts and loans obtained from the Central Bank of Nigeria (CBN) by the Federal Government since May 29, 2015, including the total overdrafts, the projects on which the overdrafts have been spent; repayment of all overdrafts to date, as well as to clarify whether the $25billion (N9.7trillion) overdraft reportedly obtained from the CBN is within the five-percent limit of the actual revenue of the government for 2020.”
The organization is also urging him to “provide details of spending of overdrafts and loans obtained from the CBN by successive governments between 1999 and 2015.”
In the Freedom of Information request dated March 6, 2021, and signed by SERAP Deputy Director, Kolawole Oluwadare, and made available to newsmen, yesterday, the organization said, “Ensuring transparency and accountability in the spending of CBN overdrafts and loans would promote prudence in debt management, reduce any risks of corruption and mismanagement, and help the government to avoid the pitfalls of excessive debt.”
SERAP said, “Disclosing details of CBN overdrafts and repayments would enable Nigerians to hold the government to account for its fiscal management and ensure that public funds are not diverted, thereby improving the ability of your government to effectively respond to the Covid-19 crisis. This means that the government would not have to choose between saving lives or making debt payments.”
According to SERAP, “The increasing level of public debt would threaten the ability of the government to invest in essential public goods and services, such as quality education, healthcare, and clean water. It is the primary responsibility of the government to ensure public access to these services in order to lift millions of Nigerians out of poverty and to achieve the Sustainable Development Goals by 2030.” The FoI, read in part, “The growing level of public debt would increase debt-servicing costs, which would mean that your government has less resources to spend on these critical public services.
“We would be grateful if the requested information is provided to us within 14 days of the receipt and/or publication of this letter. If we have not heard from you by then, the Incorporated Trustees of SERAP shall take all appropriate legal actions to compel your government to comply with our request.
“SERAP is concerned about the growing level of debts by the Federal Government, and the apparent lack of transparency and accountability in the spending of overdrafts and loans so far obtained from the CBN, as well as the repayments to date.
“Also, the recent overdraft of $25.6billion (about N9.7trillion) obtained from the CBN would appear to be above the five-percent limit of the actual revenue of the Federal Government for 2020, that is, N3.9trillion, prescribed by Section 38(2) of the CBN Act 2007. SERAP notes that five-percent of N3.9trillion is N197billion.”
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Association Seeks Government Intervention in Desilting of Canal
The Rumuokania 2 New layout Landlords Association in the Obio/Akpor local government area of Rivers State is seeking the intervention of the Rivers State Government in the desilting of the canal which transverses several communities including Mgbaraja,Ogbogoro,Egbule,Elioparanwo,Ozuoba and other communities in the area.
The Association which said this at a media briefing in Port Harcourt also lauded Governor Siminalayi Fubara for the construction of the Rumuoke/pipeline internal roads.
The landlords said the canal impede the free flow of water from the affected communities thereby causing severe flooding whenever it rains in the area.The Association also commended the governor for the ongoing construction and rehabilitation of road across the state, adding, the gesture has not only rekindled hope of Rivers people for a better tomorrow,but has bought prosperity across communities in the state.According to a Press release made available to news men during the briefing,”We are gathered here today to express immense appreciation to His Excellency, the Governor of Rivers State,Sir Fubara, GSSRS,for the construction of the Rumuoke/pipeline Internal roads.“We also wish to use this medium to request the desilting of the Canal transversing the area and the construction of adjoining roads to the area.“We acknowledge with profound gratitude the transformative governance going on in Rivers State under the purposely and impactful leadership of Governor Fubara.“The visible impact of his administration across all sectors, particularly the rehabilitation and construction of new roads,has rekindled hope among the people and brought prosperity to our communities”The Association said.The landlords particularly praised the Governor for the successful completion of the Rumuoke Road from Okilton junction off Ada George Road to Road 9-2nd & 3rd Avenue, Road 10-2nd Avenue and 3rd Avenue, and Pipeline Road upto the canal, expertly executed by Monier Construction Company (MCC).They noted that,prior to the intervention of the Governor,the road was in an extremely deplorable state, impassable, and prone to flash floods whenever it rains.“Most houses and business premises were often flooded as people could hardly leave or access the area,while economic activities were completely paralyzed.“The newly constructed internal roads have completely eased traffic in the area, boosted economic activities, and improved the quality of life of residents of Rumuokania and Rumuoke communities”The release which was jointly signed by pastor Joel Gbandi, chairman of The Association and Lucky Ashley Atiegoba secretary,on behalf of the Landlords also expressed gratitude to the Governor for the construction of all internal roads in the area..It however drew the , attention of the Governor to an emerging issue which they said poses threat to the durability of this critical road infrastructure.According to the landlords,”at the terminus of the newly constructed pipeline road, the adjoining canal is severely blocked, impeding the free flow of water .“The canal serves as a vital waterway, traversing several communities, including Rumuokania, Mgbraja, Ogbogoro, Egbelu, Elioparanwo, Mini-Orlu, Rumue-vorlu, Rumuokwachi, Ozuoba, Iwofe, Rumuolumeni, Rumuepirikom, and Mini-kete, among other communities.“This obstruction has caused water to back up onto the surface of the newly constructed road, leading to accelerated erosion and hazardous conditions for surrounding buildings, motorists, and pedestrians alike within RumuokaniaRumuoke communities.“It is against this backdrop that we respectfully request the kind intervention of our dear Governor in this regard:” We humbly request the desilting of the canal to restore proper drainage and prevent water overflowonto the newly constructed internal roads and flooding within the communities.“. We also request the construction of adjoining roads to the area to provide alternative pathways and improve overall accessibility in the area.“Addressing these germane concerns will not only safeguard the investment of the state government in road infrastructure in the area but will also mitigate flooding, enhance safety, and further elevate the living standards of residents of Rumuokania and Rumuoke communities”the landlords said.
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Rivers Judges Begin Christmas Vacation Dec 23
Judges of the High Courts of Rivers State will proceed on this year’s Christmas and New Year vacations on Tuesday, 23rd December 2025.
This was contained in a statement signed by the Registrar, State High Court, David Ihua-Maduenyi, on behalf of the Chief Judge of the State, Justice Chibuzor Amadi, and made available to newsmen over the weekend.
The statement stated that judges will commence the yuletide vacation from Tuesday, 23rd of December 2025, and resume on Monday, January 12, 2026.
According to the statement, the directive is in compliance with the provision of Order 49 Rule 4(C) of the High Court of Rivers State Civil Procedure Rule, 2023.
The statement added that during the period of the vacation, all judicial divisions of the High Court of the State shall remain closed, while a vacation judge shall be designated to entertain only urgent applications and matters filed during the vacation.
By: Akujobi Amadi
News
Govt-Approved Land Authority Emerges In Alesa To End Land Grabbing
Land grabbing and crisis of fraudulent land sales may soon be a thing of the past as Rivers State begins experimenting the community land development committee system.
The experiment saw the light of day in Alesa Eleme where the Alesa Land Development Commiittee (ALDEC) was inaugurated last Friday by the paramount ruler of Alesa, Emperor J.D. Mkpe.
The Alesa community where the Port Harcourt refineries are situated has implemented the recommended formula with the strong support of the paramount ruler said to be a respected leader known for his commitment to peace, education, community development, and support for law enforcement, often advocating for better infrastructure and governance in his area.
Inaugurating the committee headed by a businessman, Mr. Emmanuel Olaka, the paramount ruler recounted the contributions of his community to economic development of the nation.
“Alesa is one of the 10 communities in Eleme and we are the first community in Nigeria that has refineries. The Port Harcourt Refinery (1&2) that has a lot of pipelines surrounding us. We have done a lot of contribution in making sure Nigeria stands great among all nations.
“We are made up of about 13 communities due to expansion. When I say 13 communities, Alesa is a community that has embraced other people. You can see here some people from the northern community. All the communities are here. That is why Alesa is known as a cosmopolitan community.
“Because we have got a lot of information about sale of land, and because we now have a situation whereby other persons will go into another person’s land and sell without the owner’s notice. We have also got information about minors who are not qualified to sell landed property, now selling land without letting their elders know.
“And that is why today, we are going to inaugurate a land development committee whose duty is to see into all these issues and bring up report about them. This will make both buyers and sellers feel very free in Alesa.
“We seize this opportunity to warn thus: if you sell any land to anybody without this committee’s knowledge or consent, you are doing it at your own risk. If you are buying any land from Alesa, this committee will know. By this, we will track those selling the land to you so that you don’t buy land from a wrong person. We also do not want you to buy land from an under-aged persons (children) who will sell land and run away.
According to him, we are also partnering with the Rivers State government on the project because those who buy land in Alesa with due process would be backed all the way to acquisition of certificate of occupancy (CofO).
“We are duly registered and we hereby show the world our certificate of registration and recognition. This is not a shabby arrangement. We have the registration and the authority which we have here as a body approved by the government to go into this development. This also is the registered constitution of the body.
“We will also make sure that whatever land you buy here, will be registered with the government of Rivers State through the office of the Surveyor-General and the Ministry of Land and that of Housing. This is to permanently stop land grabbers,
“We want you to buy and develop, not to keep for decades. Failure to develop your land after five years, the land will be forfeited to the government of Rivers State as a ‘waste land’ that you do not want to develop. So we are here not to maltreat any individual, we are not here to punish anyone, but to make sure your money is safe.
“We are optimistic that this strategy will work for us all. One of the greatest persons who has been able to identify with us is the Mayor of Housing. He has been friendly to us and to our aspirations.
Speaking immediately after the inauguration, the chairman of Alesa Land Development Committee, Mr. Emmanuel Olaka, vowed never to betray his community.
“I want to extend my sincere appreciation to the Alesa Council of Chiefs, the women, the youths, for nominating me to be the chairman of the Alesa Land Development Committee. I want to say this afternoon that I, Emmanuel Olaka, a bonafide son of Alaka, from Uwueke community, I will never disrespect this community. I will always do what is right, so that my God will always stand by me. I will not be biased.”
Also speaking, the Mayor of Housing, My-ACE China, who is behind the Alesa Sustainable Green Smart City, commended the community for leading the way and the war against land grabbing and land fraud.
He said the development would augur well for the green city being initiated in the area and other projects coming to Alesa.
He urged other communities in Rivers State and beyond to move fast and inaugurate such committees to put an end to land grabbing.
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