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SERAP Urges Tinubu To Probe $1.5bn World Bank Loan To 36 States, $3bn Chinese Loans To FG

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The 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, and appropriate anti-corruption agencies to thoroughly investigate the spending of $1.5 billion World Bank loan obtained by the 36 states and Abuja for poverty reduction and social protection.

The 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.”

It also urged President Tinubu to “direct Mr Fagbemi and appropriate anti-corruption agencies to promptly investigate the alleged mismanagement of the Chinese loans of $3.121 billion obtained by the Federal Government.”

ALSO READ: JUST IN: SERAP Sues CBN Over Missing N100bn Dirty Notes, Other Public Funds

Specifically, the SERAP urged him to “instruct the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other Related Offences Commission (ICPC) to jointly track and monitor the spending of the $1.5 billion World Bank loan to Nigeria’s 36 states and Abuja.”

In the open letter dated 10 August 2024 and signed by deputy director, SERAP, Kolawole Oluwadare, the organisation said, “Ensuring accountability for the spending of World Bank loan and Chinese loans would build trust in democratic institutions with the ultimate aim of strengthening the rule of law.”

It added that, “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.”

The SERAP’s position is that, “It is by pursuing these allegations and taking the evidence before the court that the truth will be revealed and justice best served.”

According to the SERAP, “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.”

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Politics

Mourinho Returns as Pérez Secures Landslide Victory in Real Madrid Election

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Real Madrid president Real Madrid has confirmed the return of José Mourinho after incumbent president Florentino Pérez secured a landslide victory in the club’s presidential election, extending his rule until 2030.

Pérez won re-election with a commanding 65% of the vote, defeating challenger Enrique Riquelme, who secured 35%, according to the club’s Electoral Board.

The result reinforces Pérez’s long-standing leadership, which has now spanned more than two decades across two separate terms.

SEE ALSO: Bruno Lage Sacked As Benfica Move To Secure Mourinho

Speaking after his victory, Pérez described the outcome as a strong endorsement of his vision for the club’s future, insisting that Real Madrid will continue to thrive both on and off the pitch.

The president also used the moment to confirm a major sporting development—the return of José Mourinho, a move that immediately sparked excitement among supporters.

Mourinho, who previously enjoyed a successful spell at the club, is widely regarded as one of the most influential managers in modern football.

Pérez said the club remains committed to competing at the highest level in Europe, with ambitions of securing a record-extending 16th UEFA Champions League title while continuing the redevelopment of the Santiago Bernabéu Stadium.

He also reaffirmed his stance on the club’s ownership model, stressing that Real Madrid will remain a member-owned institution despite growing global trends toward private ownership in football.

The announcement has been widely interpreted as the beginning of a new competitive era for the Spanish giants, with expectations rising among fans following both the election result and Mourinho’s return.

Pérez ended his address with a call for unity among supporters, including those who did not vote for him, promising to continue addressing concerns while focusing on sporting success.

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2027: Oborevwori, Omo-Agege Trade Fresh Blows Over Tinubu, Obi Endorsements

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The political rivalry between Governor Sheriff Oborevwori and former Deputy Senate President, Senator Ovie Omo-Agege, has escalated once again as both men exchanged heated words ahead of the 2027 general elections.

The confrontation follows renewed political realignments in Delta State, including Governor Oborevwori’s defection from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC), a party he previously defeated in the 2023 governorship election.

SEE ALSO: 2027: Tinubu Will Defeat Atiku If Election Is Rigged — Babachir

Oborevwori has since pledged full support for President Bola Ahmed Tinubu’s re-election bid in 2027, describing the President as his “number one project” and a key political ally whose victory would benefit Delta State.

However, Omo-Agege, who recently left the APC for the Nigeria Democratic Congress (NDC), accused the governor of political fear and abandoning party structures in the state.

“He is not a threat” — Oborevwori

Responding to criticisms, Governor Oborevwori dismissed Omo-Agege’s political relevance, insisting he poses no electoral threat.

“He is not a threat because I’ve won him before,” the governor said, adding that many of the senator’s supporters had already left him before his exit from the APC.

Oborevwori also accused Omo-Agege of political betrayal, claiming he had previously turned against key figures who supported his rise.

“He betrayed James Ibori, he betrayed Great Ogboru, he betrayed O’tega Emerhor. So if he says he wants to betray me, he’s not a threat,” he stated.

“He panicked and ran into APC” — Omo-Agege

Omo-Agege fired back, alleging that the governor defected to the APC out of fear of losing political ground.

“The governor panicked, chickened out, and ran into the APC,” he said.

He insisted that his performance in the 2023 elections proved his continued strength in Delta politics, particularly in Delta Central.

“If Sheriff believed I was not a threat, why didn’t he stay back in the PDP and take me on in 2027?” he asked.

Governance and ₦3.15 trillion controversy

Both politicians also clashed over governance performance and state finances.

Oborevwori defended his administration, saying infrastructure development had improved across all local government areas, with contractors being paid promptly.

“First time in history, no contractor is being owed,” he said, citing ongoing projects such as Effurun Roundabout, DSC Roundabout, and PTI Junction.

Omo-Agege, however, described the administration as underperforming despite receiving over ₦3.15 trillion in three years.

He alleged that about ₦750 billion remained idle in the Central Bank of Nigeria while critical sectors such as healthcare, education, and infrastructure suffer neglect.

Tinubu vs Obi political divide deepens
The rivalry has also taken a national dimension, with both politicians backing different presidential candidates for 2027.

Oborevwori declared support for President Tinubu, calling him Delta’s “in-law” and urging residents to back his re-election.

“Tinubu is my number one project,” he said.
Omo-Agege, on the other hand, declared his support for former presidential candidate Peter Obi, stating that he would contest under the Nigeria Democratic Congress (NDC).

“My presidential candidate in 2027 is Peter Obi,” he said.

Political tensions rise ahead of 2027
Observers say the renewed exchange signals an early start to a high-stakes political battle in Delta State, with shifting alliances and competing loyalties likely to shape the 2027 elections.

With both camps firmly entrenched in opposing political directions, Delta State is expected to remain a major flashpoint in Nigeria’s unfolding political landscape.

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2027: Tinubu Will Defeat Atiku If Election Is Rigged — Babachir

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Former Secretary to the Government of the Federation (SGF), Babachir Lawal, has claimed that President Bola Ahmed Tinubu would emerge victorious against former Vice President Atiku Abubakar if the 2027 presidential election is determined by electoral manipulation.

Lawal made the statement during an appearance on Channels Television’s Politics Today on Monday, where he weighed in on the growing political permutations ahead of the next general election.

According to him, no politician in Nigeria currently possesses the capacity to outmaneuver Tinubu if election rigging becomes the deciding factor in the race for Aso Rock.

ALSO READ: VDM in Trouble as Presidency Seeks Legal Action Over Alleged Fake Tinubu Audio

“If the parameter for winning elections in Nigeria is rigging, nobody can face Bola Tinubu in this country. If Atiku’s strength is in manipulating results, I wish him luck; he will meet the master rigger in front,” Lawal said.

The former SGF further argued that President Tinubu would record a landslide victory if the election outcome were determined by such means, describing the president as a formidable political strategist.

Lawal also took a swipe at Atiku Abubakar, distancing himself from the former vice president’s political ambition and insisting that he would not support his bid for the presidency.

He stated that after studying Atiku’s political history and leadership record, he believes an Atiku administration would perform worse than the current government led by Tinubu.

“I have studied his antecedents and realised that his presidency will be worse than Bola Tinubu’s,” he said.

The former SGF also criticised Atiku for what he described as insufficient engagement with Nigeria’s worsening security situation, including recurring cases of kidnapping and violent attacks in different parts of the country.

Despite his criticism of both Tinubu and Atiku, Lawal maintained that he is yet to endorse any presidential aspirant ahead of the 2027 election.

“I am supporting nobody. I don’t want to be part of anything for now,” he stated.
His comments come shortly after his resignation from the African Democratic Congress (ADC), where he accused the party of manipulating its recent presidential primary in favour of Atiku.

Lawal alleged that results from the exercise were altered to produce a predetermined outcome, claiming that candidates who won in some areas were replaced by individuals loyal to the former vice president.

He said the alleged irregularities influenced his decision to leave the party, which he described as a “rigging machine” ahead of the 2027 elections.

However, the ADC leadership has denied the allegations, insisting that the primary election was conducted transparently and reflected the wishes of party members.

 

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