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Nigerian Govt To Use $322.52m ‘Abacha Loot’ For Social Safety Net Program
Nigerian government has announced plans to use the $322.52 million returned to the country by the Swiss government as part of the fund looted and stashed abroad by late military dictator, General Sani Abacha, to implement its national social safety net programs.
Mrs. Kemi Adeosun, the Minister of Finance, made this known while talking to the press at the end of the 2018 International Monetary Fund and World Bank Spring Meetings in Washington DC, United States on April 22.
Mrs. Adeosun stated that the recovered fund which had already been lodged in a special account in the Central Bank of Nigeria (CBN) will be used for the social safety nets projects aimed at providing access to targeted transfers to poor and vulnerable households under an expanded national social safety nets system.
Mrs Adeosun also spoke on the current growth in the country’s economy. She stressed that the current economic growth showed inflation rate slowing down, with foreign reserves rising and that the current outlook contrasted with the situation experienced under previous administration before 2015.
Citing statistics from the National Bureau of Statistics (NBS), she said inflation dropped from 14.3 per cent in February 2018, to about 13.49 per cent in March 2018.
She also noted that the country’s foreign reserves, which stood at about $23 billion in October 2016, has grown to more than $47.93 billion, from about $47.37 billion as at April 5, 2018.
She said the government was optimistic that the country’s economic growth would be sustained, with current projections for 2019 expected to be far more robust than the present level in 2018.
“Government is confident that if we diligently implement our economic plan, we will continue to grow the economy,” she said.
Speaking on the government-owned-enterprises like the Nigerian National Petroleum Corporation, the minister said government would continue to efficiently and effectively manage their operational costs, plug leakages and ensure efficiency.
She said, “We must make sure every money earned comes in. We will drive the process of improving good governance and accountability.”
The Minister also said government is currently refinancing inherited debt portfolio from short term Treasury Bills to longer tenured debts and that this has resulted into huge savings and reduction in costs of funds.
She also informed that the Voluntary Assets and Income Declaration Scheme (VAIDS) deadline was extended by three months till June 30, 2018 following appeals from taxpayers for more time to regularize their tax status. She also pointed out that the present administration has raised the taxpayers’ base from 13 million in 2015 to 17 million as at 2018.
Mr. Godwin Emefiele, governor of the Central Bank of Nigeria, who was also at the briefing reassured the country of positive economic growth as he noted that a growth rate of 2.5 per cent projected by the IMF and World Bank for Nigeria was achievable.
Noting the sustained growth in the country’s external reserves, Mr Emefiele stressed the need to continue to grow the reserves to save for the rainy day.
He also guaranteed that concerted efforts were ongoing to realise the 80 per cent target for financial inclusion by 2020.
He said, “If we had enough reserves, we wouldn’t have suffered the recession shocks.”
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Update : UK Lauds Nigeria’s Recovery Under Tinubu, Urges Others to Learn
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The United Kingdom (UK) has commended the economic reforms being implemented by President Bola Ahmed Tinubu’s administration, describing Nigeria’s ongoing recovery as a success story that other countries can draw inspiration from.
The UK National Security Adviser, Jonathan Powell, made the remarks on Tuesday at the opening of the 4th UK-Nigeria Security and Defence Partnership Dialogue, held at Nigeria’s Office of the National Security Adviser in Abuja.
Powell said the reforms had required difficult decisions but were beginning to yield tangible results in economic growth and recovery.
“The economic reforms undertaken by the government have not been easy, but the remarkable progress Nigeria is making today in terms of growth and economic recovery demonstrates that difficult decisions can produce significant results. It is a success story from which many can draw inspiration,” he said.
The UK official described Nigeria as an “African superpower” whose influence and strategic importance would continue to grow as its population, capabilities and economic strength expand.
“For the United Kingdom, Nigeria is a vital partner—our foremost partner in Africa. Nigeria is an African superpower, a nation that is already influential and one whose importance will continue to grow,” he said.
According to Powell, the UK has strong confidence in Nigeria’s future and remains committed to deepening bilateral relations through a partnership founded on mutual respect, shared objectives and practical outcomes.
“We want that relationship to be a mature and equal partnership, one in which we share strategic objectives and work together to deliver tangible outcomes.
“We have immense respect for Nigeria’s leadership role within the country, across the region and throughout Africa, and we are committed to supporting that leadership,” he added.
Powell also acknowledged the professionalism and dedication of Nigeria’s security services in addressing the country’s security challenges, stressing that Nigeria remains indispensable to regional stability and collective security.
“Nigeria remains central and indispensable to regional stability and collective security. There is simply no substitute for Nigeria’s role in promoting peace and stability across West Africa and beyond,” he said.
He expressed satisfaction with the continued success of the UK-Nigeria Security and Defence Partnership Dialogue, describing it as a cornerstone of the two countries’ growing security cooperation.
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El-Rufai Confesses to Intercepting NSA Communications
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A Federal High Court in Abuja yesterday heard that former Kaduna State Governor Nasir El-Rufai admitted, in a television interview, that he intercepted the phone conversations of the National Security Adviser (NSA), Nuhu Ribadu.
The second prosecution witness in El-Rufai’s ongoing trial, Deji Adeyanju, told the court that he was at the same television station, awaiting his turn to be interviewed on February 16, the day El-Rufai allegedly made the administration on the same station.
Led in evidence by the prosecution’s lawyer, Oluwole Aladedoye (SAN), the witness quoted El-Rufai as saying in the course of the television interview: “We listened to the conversations of the NSA.”
El-Rufai is being prosecuted by the Department of State Services (DSS) over his alleged contravention of the Cybercrimes (Prohibition, Prevention, etc) Amendment Act (2024) and the Nigerian Communications Act (2003) following his alleged interception of Ribadu’s phone conversations and compromising public safety, national security and instilling reasonable apprehension of insecurity among Nigerians.
Adeyanju, a subpoenaed witness, said he knew El-Rufai as a former governor of Kaduna State, adding that he issued a statement following reports that the former governor was to be arrested by security operatives.
Shortly after the television interview in which El-Rufai featured was played in the open court, Adeyanju confirmed it to be the one he saw in which the ex-governor allegedly admitted to the act.
Aladedoye also tendered a video recording of the interview featuring Adeyanju, which the court admitted.
Adeyanju said the DSS invited him after television interview and was asked to explain what happened while he was at the television studio.
The witness said he told investigators that he was present when El-Rufai made the statements on air and that when pressed further, in the course of the interview, the ex-governor said someone did the phone tapping and passed the information to him.
During cross-examination by El-Rufai’s lawyer, Paul Erokoro (SAN), Adeyanju said he did not hear El-Rufai specifically say he hacked Ribadu’s phone lines but that he heard him say, “We listened to the conversations of the NSA.”
When asked whether or not he knew the means through which the NSA makes calls and if he would be surprised to learn that DSS investigators did not ask the NSA which of his devices was allegedly compromised, the witness said those were not his business.
The prosecution tendered an official gazette without objection from the defence. Following this, the court admitted it in evidence.
Justice Joyce Abdulmalik has adjourned further hearing till today.
El-Rufai is facing a three-count charge.
* That you, Mallam Nasir El Rufai, adult, male, on February 13, 2026, while appearing as a guest on Arise TV station’s “Prime Time” programme in Abuja, within the jurisdiction of this court, did admit during the interview that you and your cohorts unlawfully intercepted the phone communications of the National Security Adviser, Nuhu Ribadu, and thereby committed an offence contrary to and punishable under Section 12(1) of the Cybercrimes (Prohibition, Prevention, etc) Amendment, Act, 2024.
* That you, Mallam Nasir El-Rufai, adult, male, on February 13, 2026, while appearing as a guest on Arise TV station’s “Prime Time” programme in Abuja, within the jurisdiction of this court, did state during the interview that you know and relate with certain individual, who unlawfully intercepted the phone communications of the National Security Adviser, Nuhu Ribadu, without reporting the said individual to relevant security agencies and thereby committed an offence, contrary to and punishable under Section 27 (b) of the Cybercrimes (Prohibition, Prevention, etc) Amendment, Act, 2024.
* That you, Mallam Nasir El-Rufai, adult, male, and other still at large, sometime in 2026, in Abuja, within the jurisdiction of this court, with others still at large did use technical equipment or systems which compromised public safety, national security and instilling reasonable apprehension of insecurity among Nigerians by unlawfully intercepting the phone communications of the National Security Adviser, Nuhu Ribadu, to which you admitted during an interview on February 13, 2026, on Arise TV station’s “Prime Time” programme in Abuja and thereby committed an offence, contrary to and punishable under Section 131(2) Nigerian Communications Act 2003.
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Major Legal Blow as Court Orders Deregistration of ADC, Accord, Three Other Parties
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The Federal High Court in Abuja has ordered the Independent National Electoral Commission (INEC) to deregister the African Democratic Congress (ADC) and four other political parties.
The other political parties the court directed the electoral body to deregister are the Action Peoples Party (APP), Action Alliance (AA), Accord Party (AP), and Zenith Labour Party (ZLP).
The court order followed a judgment delivered by Justice Peter Lifu.
The National Forum of Former Legislators had, in the suit marked FHC/ABJ/CS/2637/2026, prayed the court to determine whether INEC has a constitutional obligation to remove political parties that fail to meet the electoral performance thresholds set out in Section 225A of the 1999 Constitution (as amended), as reinforced by the Electoral Act 2022 and INEC’s regulations.
It was the position of the plaintiff that the five political parties listed as defendants in the matter had persistently failed to meet the constitutional benchmarks required to retain their registration.
The former legislators stressed that the requirements include winning at least 25 per cent of votes in a state during a presidential election or securing at least one elective seat at the national, state, or local government level.
They told the court that the ADC and the four other parties performed poorly in both the 2023 general elections and by-elections conducted by INEC, thereby failing to win seats across key tiers of government.
The litigants insisted that the continued existence of the ADC and the other defendants as recognised political parties is unlawful and undermines the integrity of the country’s electoral system.
Among other reliefs, the plaintiff urged the court to declare that INEC is duty-bound to deregister such parties.
It further urged the court to compel the commission to deregister the five political parties before preparations for the 2027 elections advance further.
Beyond declaratory reliefs, the plaintiff prayed the court to restrain the five affected parties from participating in general elections or engaging in political activities such as campaigns, rallies, and primaries.
It also sought a court injunction restraining INEC from recognising or dealing with the parties in any official capacity unless and until they strictly comply with constitutional provisions.
The judgment may affect the chances of candidates of the affected political parties, including former Vice President Atiku Abubakar, to contest the 2027 presidential poll.
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