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Supreme Court dismisses 36 states’ suit against FG over recovered loot
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The Supreme Court has dismissed a suit by the 36 states’ governments and the Nigeria Governors’ Forum (NGF) challenging the federal government’s application of recovered looted funds.
In a judgment on Friday, a seven-member panel of the Supreme Court was unanimous in holding that the suit was wrongly instituted before the apex court.
In the lead judgment, prepared by Justice Chidiebere Uwa, but read by Justice Mohammed Idris, the apex court held that the plaintiffs wrongly invoked its jurisdiction.
It held that the subject matter of the suit, marked: SC/CV/395/2021, was within the jurisdiction of the Federal High Court.
The plaintiffs had claimed that “between 2015 and 2021 when the suit was filed, the FG has secured both international and municipal forfeiture, recovery and repatriation of “stolen assets” in the sum of NI,836,906,543,658.73, about 167 properties, 450 cars, 300 trucks and cargoes, and 20,000,000 barrels of crude oil worth over N450million,” which it allegedly failed to remit as required by the Constitution.
They alleged that instead of paying the cash into the Federation Account, the FG illegally diverted it into the Consolidated Revenue Accounts (CRA) and other accounts not recognised by the Nigerian Constitution.
The states argued that the CRA is the account into which FG’s share from the Federation Account, other federal earnings and funds belonging to specific state governments are paid.
They added that other federal earnings payable to the CRAs include receipts from federal government licenses and land revenue, administrative fees, earnings and sales, rent of government property, interests from federal government investments, repayments from state governments, Personal Income Tax of Armed Forces and others.
The plaintiffs stated that by establishing the Asset Recovery Account and Interim Forfeiture Recovery Account, into which revenue from recovered assets was to be paid, the Asset Recovery Regulation contradicts the provisions of the Constitution.
They noted that since 2015, “numerous recoveries of illegally acquired assets have been secured through anti-corruption and law enforcement agencies,” including the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Nigerian Police Force and the Office of the Attorney General of the Federation.
The plaintiffs, citing sections 162(1), 162 (10) and 80 of the Constitution and section 2 of the Finance (Control and Management) Act, 1958, argued that recovered funds qualify as revenue payable to the Federation Account instead of the Consolidated Revenue Account of the Federal Government.
They stated that it is “unconstitutional to remit or divert revenue payable into the Federation Account to the Consolidated Revenue Account of the Federal Government or any other account whatsoever, or to apply the said revenue to any other purpose,” the plaintiffs argued.
The plaintiffs prayed the court to, among others, declare, “that by the provisions of Section 162(1) and Section 162(10) of the Constitution of all income, returns, proceeds or receipts howsoever described derived from confiscated, forfeited and/or recovered assets constitute revenue of the federal republic of Nigeria, must be remitted to the Federation Account for the collective benefit of the federal, state and local governments.
They urged the court to issue a d order compelling the remittance of N1.8 trillion (cash) and N450 billion (non-cash) in recovered loot since 2015 into the federation account.
The plaintiffs also prayed the court to compel the defendants to give a detailed account of the recovered assets that are not remitted into the Federation Account by the President, as well as all the relevant officials and agencies of government.
They also want the apex court to compel the FG, through the Revenue Mobilisation and Fiscal Commission (RMFAC), to design the modalities for distributing recovered assets among the federating units.
The Nigeria Security and Civil Defence Corps (NSCDC) has deployed 10,210 personnel and specialised tactical units to Osun State ahead of the guber election.
The Commandant-General of the Corps, Prof. Ahmed Abubakar Audi, ordered the deployment as part of efforts to strengthen security across the state and ensure a peaceful electoral process.
The National Public Relations Officer of the NSCDC, Babawale Afolabi, disclosed this in a statement issued on Monday in Abuja.
According to Afolabi, the deployment, which commenced on Monday, is aimed at providing a secure environment for voters, electoral officials, observers, journalists and residents to participate in the election without fear or intimidation.
The statement said personnel from the Oyo, Ondo, Ekiti, Ogun, Lagos, Kwara, Edo, Kogi, Delta and Federal Capital Territory (FCT) State Commands would reinforce the Osun State Command.
It added that about 1,000 personnel from each of the commands would be deployed, comprising both uniformed and undercover operatives, to strengthen security coverage across the state alongside other security agencies.
Audi also directed the deployment of specialised formations with capabilities tailored to the security requirements of the election.
They include the CG’s Special Intelligence Squad (SIS), Special Weapons and Tactics (SWAT) Unit, Specialised Female Squad, Mining Marshals, Special Strike Force, Crack Squad and K9 Unit.
The statement said the specialised teams would complement the regular deployment through intelligence gathering, crime prevention and detection, protection of critical assets, crowd control and other security responsibilities within their areas of competence.
For effective coordination of the election security operations, the Deputy Commandant-General in charge of Operations, DCG Ayuba Phillip, alongside designated Assistant Commandants-General and other senior officers, will relocate to Osun State to supervise the deployment.
Audi assured residents that the NSCDC would maintain professionalism, impartiality and respect for citizens’ rights throughout the electoral process.
He stressed that the protection of election materials, electoral officials and voters would remain a priority for the Corps.
Audi also directed personnel to work in unbiased synergy with other security agencies on election duty to ensure a free, fair and credible election.
The Commandant-General warned that the NSCDC, in collaboration with other security agencies, would not tolerate activities capable of disrupting the electoral process.
He added that political thugs and other individuals planning to disrupt the peaceful conduct of the election would face the law in accordance with the Electoral Act.
The NSCDC appealed to political parties, candidates, supporters and residents to maintain peace and allow the democratic process to take its course.
It said the Corps would continue to work with the Nigeria Police Force, military and other sister security agencies under the established inter-agency security framework to ensure effective coordination across the state’s 30 Local Government Areas.
Audi further urged residents to remain calm, peaceful and vigilant during the election period and cooperate with security personnel.
He also encouraged members of the public to report suspicious activities and security concerns promptly to the appropriate security authorities.
The Black Market Dollar-to-Naira Exchange Rate for 10th August 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
The exchange rate fluctuates hourly based on the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 10th August 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1430 and buy at ₦1415 on Monday, 10th August, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Disclaimer naijablitznews does not set or determine forex rates. The official NAFEX rates are obtained from the FMDQOTC website. Parallel market rates (black market rates) are obtained from various sources, including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
Troops of Operation ENDURING PEACE, OPEP, in collaboration with the Civilian Joint Task Force, CJTF, have arrested a suspected kidnapper linked to the abduction of a resident in Kauru Local Government Area of Kaduna State.
This was contained in a statement posted on X by the Nigerian Army.
The post identified the suspect as Buba Ali, 30, adding that he was arrested at about 12:45 pm on Sunday, August 9, at Binawa village in Kauru Local Government Area.
According to post, the suspect was arrested during a joint operation conducted by troops of Sector 7 OPEP and members of the CJTF.
It said the suspect was reportedly linked to the kidnapping of Alhaji Tasi, who was abducted in the village.
“Following his arrest, Ali was taken into custody and is currently being interrogated by security personnel.
“The ongoing investigation is focused on obtaining information that could lead to the identification and arrest of other members of the suspected kidnapping gang,” the Army said.
NSCDC Deploys 10,210 Staff For Osun Guber Election
See Black Market rate of the Dollar to Naira today 10th August, 2026
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