Archived edition · 22:37 Lagos
Monday 12 October
- New articles analysed in today’s runs
- 45
- High-risk articles today
- 6
- Board appointments today
- 5
- Contract awards today
- 5
Key Developments
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Financial Oversight
SERAP has filed a lawsuit against the Central Bank of Nigeria (CBN) regarding $6.23 million in election funds and N1.63 trillion in unresolved audit queries ([Punch Newspapers](https://news.google.com/rss/articles/CBMiiwFBVV95cUxNaU90YTdmYmg0c3I5TE9aVC1fSEUweklVUl9PMUdOT2Zfaktldzhna0Raal9YVXgzQ21aOXk1X3ZmY2p4VnhOcmxOTnR1dVc4NlMzdWJHYVZUS3VtY19WaHZzU1BMaDhCc1g4OXVONHRvcmhma3FXX1ZsWVltRnptSGctVjR4dTQtLTF3)).
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Procurement Transparency
The Federal Government unveiled a digital database to screen government contractors to enhance due diligence in public procurement ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMioAFBVV95cUxOeWRJSE1TX1Q0ZUFDeEI1d0FUWlhGbVBkcVVCTmdxSnkwSmZWY1V6aWhvWUFaTHNQRnJveWZvTHlHOFNlc1FReE5MdFRkRXpPV1hBcmFLRXZmZkJlLUNrMXNGZmlGYldiUTkySUw0TUo2RGNNcjNIRXFXS1dUQnM2U25RYUxkbEU2VzRpSzdPX_nuYYtqHNVwzZZJA8L)).
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Infrastructure Security
The Office of the National Security Adviser introduced a Standard Operating Procedure (SOP) to secure critical oil and gas infrastructure ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMiygFBVV95cUxNQjlSM0JrMmluanFOVkRnQktFVkNmOVdnck1lRGtHRUpFQmpQendUTkFMcDVaV3RIdF9LOVp1b2FYNWl4b081dmplcEliY01iczVyWVpfWnBHdVdGT2NxYkNuU0hqWmxKYW45dTUzOUxYWDF4WWZjWUcwU2E5b0JBQTZ2cHNCM2tXUy1YaVItckVKVUt0Z2tjQURZLTJodklTNlJMX_xaR7JwFbmMhEQORuPEsH8HtpJLXgI8Pq90B5w)).
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Public Utility Shifts
A coalition has warned that the Lagos State Government's move toward water privatization may increase inequality ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMixgFBVV95cUxON3BuWkx6MUsxYkswTWFfemN3UU96WTlQR1dJeUs3dXZhbTg5dmdXSDVpNjZtWXJpOHBUWHdZODlzU3NzSml0M1p0OXFtQkdfazVodnBjb0VsbFZ2TmdablBlZE9lQ0paZHAtUjA3ZWlvUGJySVZrLUF6WVFjanM5MkhOVlJlX3BqS3hVakpUWFVfbk55Rmdpdk03OTBrSjJjNWZDeTMzT2xnNUxrNnk0TWVXdzRUeTktSE1VOE9aa1BiR2ZGX3c)).
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Other developments
include the introduction of digital medical records in Kwara public hospitals and new gaming license compliance notices in Lagos.
High Risk Alerts
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Industrial Sabotage
The Nigeria Social Insurance Trust Fund (NSITF) compliance platform was allegedly hijacked and shut down by an ICT staffer amid a N2 billion dispute ([latestnigeriannews](https://www.latestnigeriannews.com/p/428723/exclusive-nigerian-agency-nsitf-faces-questions-as-ict-staffer-allegedly-hijacks.html)).
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Money Laundering
The EFCC has arraigned the Aluminum Smelter Company of Nigeria (ALSCON) and its Russian director for laundering N582.4 million ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMi0wFBVV95cUxNY1B1bnpKdzBBMF95aHBLSHRIdVlUZHUyOEhhdUlWZmFhdExzOVVHLTNuSnY4ZjNaWms4ZUNUZ016QnFSYnFkWEhRREpIM2g4aGdKWDBtdkFwQm1PTFNsQjhnWnFjWFI0b2hJSWRPcFhWbXVlaEE1ckhldmJjUFFSdXZxbzl0X2JaX0VnRU1DZ08yRGxtSVFNY29pZVlFQnFxaG9aclZVekJ_kofJEqfqMk4NAeeTfHuTGHw-z3IKZKg5iDbS1c5SjN)).
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Defense Fraud
A former Nigerian Navy Accounts Director is wanted by the EFCC for alleged N2 billion fraud ([latestnigeriannews](https://www.latestnigeriannews.com/p/428726/breaking-exnigerian-navy-accounts-director-wanted-by-efcc-over-allegedn2bn-fraud.html)).
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Defense Expenditure
Reports indicate $1 billion has been released to the Ministry of Defence for arms procurement ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMihAFBVV95cUxPeDlYbFgtaGxmM29lWjI4X2xtYnk1NmowUHRqTGRKb3VaOVl1dmVWUUJvcElQTkU3V2xrU18zc25tNVpPX_sskymHwZXZ3wCHrVwqrez2v2QEarDTRyJGR7sfI6ctAhz5lMxQ2Gjuj165fc3_aye)).
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Additional risks
involve an EFCC arraignment of an unspecified firm for money laundering and a Nigerian-American charged with $320,000 vehicle import fraud.
Beneficial Ownership & PSC Disclosures
No PSC disclosures were identified in the provided data.
Procurement & Board Changes
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Major Project Funding
Former VP Atiku Abubakar has questioned the transparency of a reported $20 billion loan for the Coastal Highway project ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMimAFBVV95cUxPWGZ0Z1hYX2xzV1NPOUZwX25GdFFPVENzWXUycU9Sc1QzbWZ0STRvb2R2eTF6TG5zNF9UZmt3dWs5T3g4RmNuSzdDckpteVEwLVlMTXpiWU90d25OOTFoZTdRcjdBLUdCNDBldVNEZWZoSWljWE92N2p0bklHRHNIaUZIb1o0S1MwT3k2TlN1Wjh6MjVTVnRBWQ)).
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State-Level Investment
Ondo State secured a $362 million agreement with an unnamed firm to build a titanium processing plant ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMinwFBVV95cUxQYzRGMnNTenJjRDJkd25HRHBMSHRqbWVtYmFFenVEZWhDZmp4dV8wdGYyZ1M4dkhUeXpzbHZXSlhzN1p4YjdGRlFGbDNKZDhxajlUTktUMGdfNFQ1SkZWUU11bU1JS0dvZ2EzUGtzekZDckxpRC1OdXFXMTZnUjBZM0UxZXpOSUhVcnpPaDhKU2U5akZ4R2psS18yY0NtT0k)).
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Oyo State Leadership
Chief of Staff Ogunwuyi resigned from the Oyo State Government and was replaced by a new appointee hours later ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMixAFBVV95cUxQR1NLT1M4TE45RUF4bks3bUI5M21DYmZCWGVOSUtkMG1TaFZkYU9qUWxEWjk2dEF5ZWwtMXdsX2pfemtnV0xwclJ1Wm9qUnIxRXMxR1FOZkxtVkFDM3V5dVJzcGlvRmN1NURHQVlCLW5qS3RjU0xyYzNYcDZjUmtVN3lNWVhRd1lOcFdSYWdvTU1ZQk9xeUx4Z21MZjJGVzhQeUVDRG83Q3FzNEVrLWpBVW9tTmpnYTNfZUhYNzd5MWtkeW9U)).
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Aviation Appointments
Ibom Air appointed two new executive directors and announced a board member's retirement ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMi2AFBVV95cUxObHI2VVhKZkswR2g2S1d2YjdCcGlaRU9IWnoxRjA1WTBHNmxkdHJYYWJBTXFoaHRxWGNCaTVQYzVjSmZCYlZ6UWtvWTEtZzAwSjNuUmdIWlhUNG44WGF2T3VWcy0zYVgzVjBYeWlSMG85VFRZaVhMeTlRaVBucDEzOVdpRGhFejAyYXdlZldFYzZpY3VjVHdCMXNWRUZSRkU2SDZGeWMzNVZ0MnEtbDFUdks5eWFqM1NGMnRIcGJzbDhrMFNhRXd3bHA1T3YzSURpMm9MU3ZoZmY)).