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‘Drop Plan To Borrow Dormant Account Balances, Unclaimed Dividends,’ SERAP Tells Buhari



The Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to President Muhammadu Buhari urging him to use his leadership position “to promptly drop the plan by the Federal Government to borrow about N895bn of unclaimed dividends and funds in dormant accounts using the patently unconstitutional and illegal Finance Act, 2020, and to ensure full respect for Nigerians’ right to property.”

The Finance Act, signed into law by Buhari last December, would allow the government to borrow unclaimed dividends and dormant account balances owned by Nigerians in any bank in the country.

But SERAP in a letter dated 9 January 2021 and signed by its deputy director Kolawole Oluwadare said: “The right to property is a sacred and fundamental right. Borrowing unclaimed dividends and funds in dormant accounts amount to an illegal expropriation, and would hurt poor and vulnerable Nigerians who continue to suffer under reduced public services, and ultimately lead to unsustainable levels of public debt.”

SERAP said: “The right to property extends to all forms of property, including unclaimed dividends and funds in dormant accounts. Borrowing these dividends and funds without due process of law, and the explicit consent of the owners is arbitrary, and as such, legally and morally unjustifiable.”

According to SERAP: “The borrowing is neither proportionate nor necessary, especially given the unwillingness or inability of the government to stop systemic corruption in ministries, departments, and agencies [MDAs], cut waste, and stop all leakages in public expenditures. The borrowing is also clearly not in pursuit of public or social interest.”

The letter, read in part: “The security of property, next to personal security against the exertions of government, is of the essence of liberty. It is next in degree to the protection of personal liberty and freedom from undue interference or molestation. Our constitutional jurisprudence rests largely upon its sanctity.”

“Rather than pushing to borrow unclaimed dividends and funds in dormant accounts, your government ought to move swiftly to cut the cost of governance, ensure review of jumbo salaries and allowances of all high-ranking political office holders, and address the systemic corruption in MDAs, as well as improve transparency and accountability in public spending.”

“The borrowing also seems to be discriminatory, as it excludes government’s owned official bank accounts and may exclude the bank accounts of high-ranking government officials and politicians, thereby violating the constitutional and international prohibition of discrimination against vulnerable groups, to allow everyone to fully enjoy their right to property and associated rights on equal terms.”

“SERAP is concerned that the government has also repeatedly failed and/or refused to ensure transparency and accountability in the spending of recovered stolen assets, and the loans so far obtained, which according to the Debt Management Office, currently stands at $31.98 billion.”

“SERAP notes growing allegations of corruption and mismanagement in the spending of these loans and recovered stolen assets.”

“We would be grateful if your government would drop the decision to borrow unclaimed dividends and funds in dormant accounts, and to indicate the measures being taken to send back the Finance Act to the National Assembly to repeal the legislation and remove its unconstitutional and unlawful provisions, including Sections 60 and 77, within 14 days of the receipt and/or publication of this letter.”

“If we have not heard from you by then as to the steps being taken in this direction, the Registered Trustees of SERAP shall take all appropriate legal actions to compel your government to implement these recommendations in the public interest, and to promote transparency and accountability in public spending.”

“The government cannot lawfully enforce the provisions on Crisis Intervention Fund and Unclaimed Funds Trust Fund under the guise of a trust arrangement, as Section 44(2)[h] of the Nigerian Constitution 1999 [as amended] is inapplicable, and cannot justify the establishment of these funds.”

“SERAP notes that while targeting the accounts of ordinary Nigerians, the Finance Act exempts official bank accounts owned by the federal government, state government or local governments or any of their ministries, departments or agencies.”

“Our requests are brought in the public interest, and in keeping with the requirements of the Nigerian Constitution, the country’s international human rights obligations including under the African Charter on Human and Peoples’ Rights to which Nigeria is a state party, and which has been domesticated as part of the country’s domestic legislation.”

“According to our information, your government has reportedly completed plans to borrow an estimated N895bn of unclaimed dividends and funds in dormant accounts using the Finance Act 2020 you recently signed into law.”

“Under the law, the government will be able to access and take without consent unclaimed dividends and funds in dormant accounts in any bank, on the basis of the vague and undefined ‘Crisis Intervention Fund,’ and patently unlawful ‘Unclaimed Funds Trust Fund’.”

“The government is justifying the borrowing on the ground that it would improve access of the Federal Government to much-needed funds, and remove the burdens of foreign exchange and punitive loan conditions imposed by multilateral lenders.”

“According to the Finance Act, the operation of the trust fund is to be supervised by the Debt Management Office (DMO) and governed by a governing council chaired by the finance minister and a co-chairperson from the private sector appointed by you.

“The Nigerian Constitution in Section 44(1) provides that, ‘no moveable property or any interest in an immovable property shall be taken possession of compulsorily and no right over or interest in any such property shall be acquired compulsorily in any part of Nigeria except in the manner and for the purposes prescribed by a law.’”

“Similarly, Article 14 of the African Charter on Human and Peoples’ Rights, and Article 17 of the Universal Declaration of Human Rights guarantee the right to property and prohibit the arbitrary deprivation of the right. Thus, everyone is entitled to own property alone as well as in association with others.”

“Respect for the right to property is important to improve the enjoyment of other basic human rights and to lift Nigerians out of poverty. The Nigerian Constitution and international human rights law limit the ability of any government to interfere with private property without any legal justifications.”

The letter is copied to Mr. Abubakar Malami, SAN, Attorney General of the Federation and Minister of Justice, and Mrs. Zainab Ahmed, Minister of Finance, Budget, and National Planning.

READ ALSO:FG To Borrow Dormant Account Balances, Unclaimed Dividends

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Rakib Idris is a scientist, blogger, entrepreneur, web designer, socioeconomic and political commentator. He loves writing quality contents for readers and presenting to them happenings around the world promptly as they occur. Thank you for visiting , •••• For Advert Placement Call/WhatsApp: 09054011337 or send an E-mail to


JAMB Novel For 2021 UTME (The Life Changer) Summary, Possible Questions And Answers (Download)



The book “Life Changer” written by Khadija Abubakar Jalli is the JAMB novel for 2021 UTME Candidates. Regardless of the course, you are applying to study and the mode of the examination, all candidates will be tested on this new book. Candidates are to note that about 15 to 35 questions will likely come from the recommended novel in the use of English exam questions.

About The Author 

Khadija Abubakar Jalli holds a B.Sc (Ed) Mathematics degree. She is an entrepreneur and CEO of She’s Boutique Afrique. Khadija Abubakar Jalli is married with children.

The Life Changer is Khadijat Abubakar Jalli’s first publication and she seems to be saying that the female voice is making a rebound on the parapet of African literary scene.

Khadijat  Abubakar Jalli’s “The life changer” explores several narratives of life on campus.  The text uses the voice of Ummi to narrate various campus challenges. The narration follows the adventures of Salma and her roommates in the university as they journey through social and academic upheaval.

The life changer explicitly cuts across the changes that follow a person’s life in the university. The university is known to be a mystery to people who have never experienced it. This text shows the need for parental guidance and counselling in a new world where freedom is tied to many complexities such as temptation, lies, distrust, betrayal, bad association, crime, bribery and corruption, abuse of social media etc.

Download the Novel “ The Life Changer” Below 👇🏻

Based on popular demand, Pointloaded has provided a soft copy of the novel in PDF format. UTME Candidates can download this on their phone, computer system, or tablets and read it anywhere. Please note that you need a PDF-enabled device to be able to view the novel.




Summary Of The Novel “Life Changer”: Chapter By Chapter

Facts About The Life Changer (JAMB 2021 Novel)

* It was written by Khadija Abubakar Jalli.
*It has 9 Chapters and 79 pages.
* It is based on Campus Life.
* The story is centered around Salma and Experiences.
* The Author studied Mathematics Education and is the CEO of She’s Boutique Afrique.
* The Author dedicated the book to her 5 children; Zahra, Najwa, Basma, Sodiq and Farha.
* The Storyteller (Ummi) first child was Omar (18 years), the second child was Teemah, the third was Jamila and the last born was Bint (5 years).
* The admission gained by Omar was The Life Changer and that’s where the name of the novel was coined.

Summary Of The Novel Life Changer: Chapter By Chapter


A family of six awaits the arrival of Daddy. While they wait, Bint gave an account of her classroom encounter with her intrusive Social studies teacher, Mallam Salihu, who is known to act as though he knew a bit more about every subject as he will often asked questions outside the subject of discussion. Bint narrated how she genuinely handled a similar occurrence leaving the teacher dumbfounded by her question while the pupils cheered and laughed.

Ummi is seamlessly proud of her daughter, particularly, Bint’s intelligent approach to issues and she joined in the discussion right before Omar joyfully announced his admission to study law at the Ahmadu Bello University. As the family gathered to celebrate Omar’s success, Omar boasted of his achievement and takes pride in solely overcoming examination challenges and several other entry procedures while seeking admission into the university. Ummi recognises her son’s naivety and tried to enlighten him about the life-changing capability of university admission.

Ummi told her children how her admission changed her.


Twenty years ago, Ummi gained admission into the university and got married to her husband even before she started her registration. Ummi told them about the freedom and the carefree life of students in the university, the difficulty in distinguishing between teachers and students with female dressing almost naked and how some faculties are required to be on dress codes. Ummi further disclosed her experience with Salma, a sophisticated young lady.

Salma goes for her registration much later than everyone else but expresses discomfort and irritation about the delay in the registration process. Salma was interrogated by a young man on the queue and he continuously engaged her in a discussion but Salma continues to criticized and overgeneralized her opinions about lecturers. Salma does not only create a similarity between lecturers and policemen as personalities that can be bribed, she also boasts about her ability to win the lecturer’s favour if she gives him as low as two or three thousand naira. Unknowingly to Salma and to the astonishment of everyone on the queue, the young man she had been conversing with is the lecturer in charge of the registration procedure.

Ummi proceeded to her departmental registration and she was directed to the HOD’s office. The HOD is seen exchanging endearing pleasantries with Ummi which she finds rather discomforting and inappropriate. Ummi assumes the HOD is trying to make a pass at her. She indeterminately managed to accommodate this until she is given her matriculation number and left the office irritated and angry. On getting home, Ummi told her husband about her experience at the HOD’s office but she was astounded to learn about the friendship and rapport between her husband and Dr Sam John.


Ummi tells the story of ‘the quiet one’, a boy named Talle. Talle was given birth to after many years of child futility and his birth caused the death of his mother. He grows up possessing a silent character and becoming even more reticent with the death of his father and stepmother, thus, ‘the quiet one’ was a perfect description.

Talle was considered a good person by the villager and unable to cause harm. However, Talle needed money at a point and confided in Zaki who proposed the idea of abducting a boy and requesting for a ransom. The plan was executed by the duo and Talle restrains the boy in his house. Talle goes to the market for his groceries but his usual request for food items was doubled. Soon, the market woman noticed a change in his larger request for groceries and reported the issue to the District head­­. While Talle is being interrogated by the District head, policemen rampaged the palace and arrest Talle as a suspect for kidnapping and extortion. Talle and Zaki were eventually sentenced to some years of imprisonment.


This chapter gives a further account of Salma’s splendour and pomposity. Salma goes to Dr Debo, the level coordinator, to have her forms signed. Unfortunately, Dr Debo loses touch of his many years of discipline and makes advances towards Salma. Salma arrogantly dismissed his attempt and further insulted him before leaving the office. Dabo is left is a state of regret and he remorsefully prayed to be vindicated from the impact of what he has created.

Salma completed her hostel registration and moves into a room occupied by three other girls. Initially, Salma does not like the sight of her roomies but eventually, they began to grow fond of each other and form an intimacy they regarded as sisterhood.

On a faithful evening, Salma was offered a ride in a Mercedes Benz by two men, Habib and his driver, Labaran. She slides in knowing it is dangerous and she conceitedly plots a scheme to decline Habib’s request to date her if he eventually proposes.

Having to decline a man that rides Benz is Salma’s way of upgrading her standard and getting recognition and respect from her colleagues and the entire university.


In this chapter, it is discovered that Salma gave Habib Tomiwa’s mobile line instead, and unknowing to Habib, he called Tomiwa to go out on a date with him. Tomiwa is curious about Habib and decideed to go out on a blind date but eventually disclosed the switch in mobile lines. Habib likes her still and shops for her and her roommates. He also gave Tomiwa some money for herself and her roomies. She was elated and her roommates shared in this happiness. At first, Salma agitated against Tomiwa’s approval of Habib and accuses her of being a chameleon. Ada and Ngozi intervene but the issue escalated. They soon came to a state of tranquillity as soon as someone knocked at the door. They do not want to share their lots with other neighbours.

Meanwhile, Salma and roommates continue to excel in their separate departments and prepare for General studies papers.


Salma finds Moral philosophy very difficult. She, however, prepared by practising past questions and answering them offhand. Unfortunately, Salma was unable to answer any of the questions during the examination as none of the topics for which she spends the whole night preparing for had come out. She resolved into indulging in examination malpractice. Kola provided answers to some of the questions in a note as she copied them into her answer booklet. Regrettably, she is caught by a female lecturer.

Salma was compelled to fill the Examination Malpractice (EMAL) form and she is ushered to the HOD’s office. He transfered her case to the Exams and Ethics committee for further processing. Salma and Kola were expelled thereafter.


Salma goes to Habib to help her influence the committee by using his position as a politician. Habib offers to involve Dr Debo but due to her past experience with the lecturer, she declined this suggestion and proffers bribing. Habib offers to give Salma some amount of money to bribe the chairman of the Examination and Ethics Committee (EMEC) but in return, she must repay in kind. Salma is reluctant to accept this offer because of her affair with Labaran and she considered it unfair to have an affair with her friend’s man. Salma soon gave in to his request but unluckily she gave the money to Dr Kabir, who claimed to be the chairman of the EMEC. She soon found out she has been deceived by Dr kabir who was neither the chairman nor a member of the Committee. She is demoralized and breaks down.


This chapter reveals the true identity of Mohammed Kabir, a laboratory technologist employed by the University. He has been nicknamed Doctor since secondary school and has always been referred to as Dr Kabir.

Labaran discovered Salma has been played by the gambler and informed Habib suggesting Zaki be contacted to handle the situation. Honourable Habib is skeptical about involving Zaki owing to his failure in the first mission of abducting Alhaji Adamu’s son. Habib yielded to Labaran’s suggestion and contacted Zaki to trail Kabir.

Kabir was spotted at a gambling spot. Kabir wins the game at the gambling spot and leaves to avoid losing it all. Sadly, he is trailed by thugs whose mission is to retrieve Kabir’s wins. Zaki catched up with Kabir as he is being attacked by the thugs. Zaki strikes the thugs and gains control of the situation as they flee. He then concentrated on Kabir, collects the money, and left him bruised.

Ummi also told her children how Salma changed her immoral ways. Salma became serious and decent after the death of her father and because of her level of seriousness Ummi allowed Salma to become her friend.


Ummi also revealed Salim resentful experience with smartphones. Salim confessed to Lawal about a girl he met on social media. After several exchange of pictures, chats, and affection Salim visited Natasha according to her preference. Unconsciously to him that he is being tricked by Natasha, he embarked on a journey to see her late in the night. On his arrival, she joined him in the front seat of his SUV, and Salim is captivated by her beauty. He is eventually ambushed by gunmen who tried to rob him of his possession. Luckily for him, he escaped this only to get involved with another lady he met on social media.

This time he pleaded with Lawal to accompany him to avoid similar contingency. Lawal declined and he went to see the supposed beautiful girl. Salim leaves in disappointment as he met an ugly girl instead.

The children were seen proclaiming admiration for all the stories relayed to them by Ummi as they await daddy’s arrival.





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FULafia To Commence Friday Juma’a Prayer On Campus, Says VC



Muslims in Federal University of Lafia (FULafia) would soon start observing the weekly Juma’a congregational prayer on campus.

The Vice-Chancellor, Federal University of Lafia, Professor Shehu Abdul Rahman, revealed this plan of the Muslims during the Second Edition of Ramadan Lecture, organised by the Muslim Ummah of the Federal University of Lafia (MUFULafia).

The lecture was held at the Adamu Adamu Office and Lecture Complex, Permanent Site Campus of the institution.

The vice-chancellor, who was the chief host at the event, also revealed plan being made by Muslims in the University to start holding Ramadan tafsir.

He commended the organisers of this year’s Ramadan Lecture, urging them to continue doing the good work they’re doing.

In order to actualise the dream of the Muslims to start holding Juma’a prayer, Abdul Rahman stated that soon they would start building of a befitting mosque, calling on stakeholders to generously contribute for that purpose.

While appreciating MUFULafia for its efforts aimed at propagating Islam, he urged Muslims to be law abiding, peaceful, broaden their spiritual horizon and expand their knowledge of other faiths.

Professor Shehu Abdul Rahman described fasting as a serious spiritual engagement, advising Muslims to seek closer relationship with Allah during the month of Ramadan.

Also speaking, the chairman of the occasion, Alhaji Abubakar Aminu, who is also the Patron of MUFULafia, prayed Allah to grant Muslims the strength to undertake the Ramadan spiritual exercise.

He called on the Muslims to be selfless, religious and pray for the return of peace in Nigeria.

In his speech, the guest lecturer, Associate Professor Mohammad Tanko Aliyu (Baitullah) who is also the Head of Department, Islamic Studies, urged Muslims to move closer to Almighty Allah during and after the holy month of Ramadan and seek forgiveness of their sins from the Creator.

In a lecture entitled: “Maximising the Benefit of Ramadan,” the guest speaker said the holy month should be the period of soul cleansing for every Muslim across the globe, explaining that “the holy month of Ramadan is the period to give out in charity to those in need because Almighty Allah has commanded us to do so as part of our trust to our brothers and sisters in Islam and to non-Muslims alike.”

In his vote of thanks, Dr Ibrahim Auwal, commended Abdul Rahman for creating an enabling working environment for staff of the University.

He thanked those who attended the lecture for their commitment towards the success of the programme, describing that as a welcome development.


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FG Approves Activation Of New SIM Registration With Mandatory NIN



The Federal Government on Thursday said the issuance of new SIM cards will resume on April 19, “as long as verification is done and the guidelines are fully adhered to.”

The Ministry of Communications and Digital Economy communicated this in a statement signed by Femi Ademiluyi, a techncal aide to Minister Isa Pantami.

The government suspended the activity in December 2020 as it embarked on an audit of the Subscriber Registration Database.

The Communications Ministry said at the time that the audit exercise was important in order to verify and ensure compliance by Mobile Network Operators with set quality standards and requirements of SIM Card Registration.

The resumption of new SIM cards issuance comes as the country is set to implement a Revised National Digital Identity Policy for SIM Card Registration.



FG Approves the Activation of New SIM Registration with Mandatory NIN in line with the Revised National Digital Identity Policy for SIM Card Registration

The Nigerian Communications Act (NCA) 2003, Section 23(a), specifies the role of the Minister to include the formulation, determination and monitoring of the general policy for the communications sector.

In line with this, on behalf of President Muhammadu Buhari, GCFR, the Honourable Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami, FNCS, FBCS, FIIM coordinated and led the development of a Revised National Digital Identity Policy for SIM Card Registration in collaboration with all other stakeholders.

An earlier Policy was approved on the 4th of February 2020, while the Revised Policy was developed in early March 2021. The final amendments to the revised Policy based on the directives of Mr President to make the use of NIN mandatory for all SIM registration were completed on 14th of April, 2021.

Prior to that, the key aspects of the draft Policy were presented to the stakeholders at the 4th Review Meeting of the Ministerial Task Force (MTF) on the NIN-SIM registration which held on Friday, 26th of February, 2021. Key stakeholders and members of the MTF who joined the Honourable Minister at the meeting included the EVC/CEO of the Nigerian Communications Commission (NCC), DG/CEO of the National Identity Management Commission (NIMC), DG/CEO of the National Information Technology Development Agency (NITDA), Comptroller-General of the Nigeria Immigration Service (NIS) and the Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON). Others included the NCC Executive Commissioners for Technical Services and Stakeholder Management, MD/CEOs of MTN, Airtel, EMTS (9Mobile), NTEL, Spectranet and SMILE, as well as the COO of Glo.

Dr Pantami also presented the Revised Policy to His Excellency, President Muhammadu Buhari, GCFR on Friday, 26th of March, 2021. Mr President made further improvements and endorsed it for implementation. Mr President also commended the Honourable Minister for his commitment in carrying out the responsibility of developing the digital economy sector, including championing the NIN-SIM registration process.

The Policy includes Guidelines on New SIM Acquisition and Activation, SIM Replacement, New SIM Activation for Corporates and Internet-of-Things/Machine-to-Machine (IoT/M2M), amongst others. The possession of a National Identity number will be a prerequisite for each of these categories. For the Corporate registration, institutions will be required to appoint a Telecoms Master (at the minimum of an Executive Management level) to provide the operational Primary NIN representation. The Telecoms Master will also be responsible to ensuring that the users provide their NINs to serve as a Secondary NIN.

For IoT/M2M activations, SIM security protocols would be implemented on the SIM profile to ensure that SIMs can only be used for point to point data services specific to the URL they are working with. All other services will be barred. In the event that a data only service is particular to individual use (eg home car tracking, WiFi, MiFi services, etc), the standard NIN registration process will be followed. A Telecoms Master will also be required for Corporates requiring IoT/M2M activations. The full details of the requirements for each class of service will be made available in due course.

Significant progress has been made in the NIN registration process across the country. Nonetheless, the Federal Government is committed to supporting all Nigerians and legal residents to obtain a NIN. The biometric verification process has been slower than anticipated, owing largely to the non-adherence of many previous SIM biometric capture processes to the NIMC standards. The Revised Policy will ensure that operators conform to the required standards for biometric capture.
The Guidelines in the Policy have been painstakingly developed and while they are thorough, it should be noted that they have been developed that way in National interest since the SIM is essentially a national resource. Citizens and legal residents are encouraged to bear with the government as the process has been developed in the best interest of the country.

The implementation of the Policy will commence on Monday, 19th of April 2021. The issuance of New SIMs and other suspended activities will resume on the same date, as long as verification is done and the guidelines are fully adhered to. The Honourable Minister has also directed NCC and NIMC to ensure that the provisions of the Policy are strictly followed by all operators and subscribers.

Dr Pantami wishes to thank Nigerians for their patience and compliance with the Federal Government’s directive on the NIN-SIM registration exercise. He reiterated government’s commitment to continually taking decisions aimed at easing the pains of the citizens with regard to issues related to NIN and SIM registration.

Dr Femi Adeluyi
Technical Assistant (Information Technology) to the
Honourable Minister of Communications and Digital Economy
15th April, 2021

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