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SERAP Gives CBN 7 Days to Account for ‘Missing’ N100bn Dirty Notes and Other Public Funds

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The Socio-Economic Rights and Accountability Project (SERAP) has issued a seven-day ultimatum to the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, to account for over N100 billion in ‘dirty and bad notes’ and other large sums of cash reportedly kept in various branches of the apex bank.

 

The allegations, documented in a recent annual report by the Auditor-General of the Federation, also include unexplained expenditures such as the N7.2 billion budgeted for the construction of the CBN Dutse branch in 2010 and N4.8 billion for the renovation of the CBN Abeokuta branch in 2009.

 

In a letter released on Saturday, signed by SERAP Deputy Director Kolawole Oluwadare, the organization demands an explanation for the whereabouts of these funds and the names of contractors who failed to complete the projects despite receiving payments.

 

“These grim allegations by the Auditor-General suggest grave violations of public trust, the provisions of the Nigerian Constitution, the CBN Act, and national and international anti-corruption obligations,” the letter states.

 

SERAP has warned that if the CBN does not take the recommended measures within seven days of receipt or publication of the letter, it will pursue all appropriate legal actions to compel compliance in the public interest.

 

According to the 2020 audited report by the Auditor-General, the CBN has been holding over N100 billion in ‘dirty and bad notes’ and other large sums of cash since 2017, awaiting examination in various branches.

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Edo State: Security First, Politics Later, Obaseki Urges Okpebholo

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Outgoing Edo State Governor, Godwin Obaseki has issued a stern warning to incoming Governor, Senator Monday Okpebholo, emphasizing that prioritizing politics over security could lead to significant challenges for the state.

Obaseki delivered this message during a recent security briefing in Benin with key state security officials.

“My advice to the incoming administration is to take security seriously and never prioritize politics over security.

“Citizens deserve a safe environment, and if politics overshadows security, there will be problems,” Obaseki said.

Reflecting on his administration’s achievements, Obaseki highlighted how his team has strengthened Edo’s security architecture since 2016, positioning the state as one of Nigeria’s safest regions for living and business.

Through strategic partnerships with security agencies and heavy investment in technology, his administration documented and responded to incidents statewide, fostering a climate that attracted investors and fueled economic growth.

He attributed Edo’s improved security landscape to a collaborative approach with security agencies, urging the incoming administration to build on these foundations.

“We’ve shown it’s possible with the right people and resources. Now, we need all stakeholders on board to secure our state—and ultimately, our nation,” he added.

Obaseki’s message leaves a clear mandate for Okpebholo: put security above politics to sustain Edo State’s progress.

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Tinubu Arrives in Riyadh for Arab-Islamic Summit on Middle East Crisis

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President Bola Ahmed Tinubu arrived in Riyadh, Saudi Arabia, on Sunday to attend the Joint Arab-Islamic Summit, convened to address the crisis in the Middle East.

The summit, organized at the invitation of King Salman and Crown Prince Mohammed Bin Salman, will bring together leaders from across the Arab and Islamic worlds to discuss critical regional issues, with a focus on the Israel-Palestinian conflict.

Presidential Spokesperson, Bayo Onanuga stated that Tinubu, who landed at King Abdulaziz International Airport and was welcomed by Prince Mohammed Bin Abdulrahman Bin Abdulaziz, will advocate for an immediate ceasefire and emphasize Nigeria’s commitment to a peaceful resolution.

Tinubu is also expected to promote renewed international efforts to revive the two-state solution as a long-term approach to lasting peace.

“The President will highlight Nigeria’s strong call for a ceasefire and a diplomatic resolution to the conflict, and will push for renewed global focus on the two-state solution,” Onanuga explained.

The summit, set to commence on Monday, November 11, is anticipated to provide a significant platform for dialogue on pathways to stability in the region.

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Evangelist Ebuka Obi Reveals Vows of Virginity, Humility, Service

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Evangelist Ebuka Obi, the Leader of the Zion Prayer Movement Outreach, recently shared the three commitments he made to God before founding his ministry, which he regards as a prayer ground rather than a church.

In an interview with The Sun, Obi revealed that he remains a virgin and plans to uphold his vow of abstinence until marriage, a commitment inspired by advice he received as a young man from Rev. Fr. Luke Odinkemmelu.

Recalling the priest’s counsel, Evangelist Obi said, “He told me not to have sex until I marry…to maintain God’s grace.” Following this guidance, he pledged to uphold chastity and has remained true to his promise, stating, “I’ve not had sex before.”

In addition to celibacy, the clergyman vowed not to open a church of his own. “The Reverend Father instructed me not to leave the Catholic Church where I was born,” Obi explained.

While his Zion ministry reaches a large audience, he respects this advice, refraining from conducting baptisms or weddings, which he sees as church sacraments.

Finally, Obi promised not to let money drive his ministry, a principle he holds dear to avoid being “money-minded.”

These three promises—to stay chaste, avoid church leadership, and prioritize service over profit—are central to his spiritual mission and the foundation of his rapidly growing outreach.

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