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KEGOZ MARKET WATCH KEGOZ BULLETIN · 04 NOV 2026 ·UPDATE
  • PMS · Depot average₦1,318/L▲ ₦1.50
  • DIESEL (AGO) · Depot average₦1,800/L▼ ₦5
  • COOKING GAS (LPG) · Basket median (older quotes included)₦1,225/kgUnchanged
  • BRENT CRUDE · 3 Nov settlement$103.60/bbl▼ 1.1%
  • USD/NGN · NFEM closing rate · 3 Nov₦1,346/$1
  • USD/NGN · Parallel · 4 Nov bulletin₦1,378–1,395/$1
  • DANGOTE PMS · Depot · 3 Nov₦1,300/L
  • DANGOTE AGO · Gantry · 4 Nov bulletin₦1,840/L
  • DANGOTE LPG · 4 Nov panel₦1,050/kg
  • NNPC PMS · Pump · Reported 2 Nov₦1,355/L
Source: KEGOZ Daily Trading Intelligence Bulletin, Issue 062, 4 Nov 2026. Indicative prices; quote dates vary. PMS, AGO and LPG changes vs Issue 061. PMS basket now includes Ascon. Older LPG quotes may understate the current market. Verify with suppliers before trading. Not a live feed.

SERAP Demands Probe, Transparency Over FG’s N50,000 Relief Scheme

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The Socio-Economic Rights and Accountability Project (SERAP) has called on the Federal Government to disclose details of its N50,000 National Emergency Relief and Stabilization Intervention (NERSI), warning against possible corruption, mismanagement, and political interference.

In a Freedom of Information request dated November 7, 2026, and signed by its Deputy Director, Kolawole Oluwadare, SERAP urged the Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro, to publish comprehensive information on the programme’s funding, beneficiary selection process, and payment arrangements.

The organisation also asked the minister to invite the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) to monitor the implementation, investigate allegations of corruption, and ensure that funds reach intended beneficiaries.

The demand follows the ministry’s October 30 launch of the N50,000 intervention programme designed to provide financial assistance to vulnerable Nigerians.

However, SERAP said questions remain unanswered regarding the programme’s total budget, geographical distribution, eligibility requirements, and the criteria for selecting beneficiaries through the National Social Register and national identity records.

The group also expressed concern over reports of beneficiaries receiving payment notifications but being unable to access their funds, while others were told they were ineligible.

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It said the complaints raised concerns about beneficiary verification, payment reliability, and the effectiveness of mechanisms for resolving failed or disputed transactions.

SERAP further demanded clarification on whether the intervention was a one-off payment or a recurring monthly benefit, citing inconsistencies between the ministry’s public statements and its official frequently asked questions.

It also requested the disclosure of service-level agreements, transaction fees and oversight arrangements involving the programme’s financial partners, including ALAT, MoMo PSB, NairaGram, OPay and Moniepoint.

With the 2027 general elections approaching, the organisation warned that the programme must not be used for political mobilisation, rewarding party loyalists or influencing voters.

SERAP stressed that NERSI is a publicly funded government intervention and not a personal gift from any government official or political party. It added that beneficiaries must not be compelled to attend political rallies or demonstrate political allegiance to access the funds.

The organisation also called for the publication of state-by-state and local government disbursement records, stronger data protection measures for the National Social Register and transparent channels for handling beneficiaries’ complaints.

Citing previous audit concerns, including the Auditor-General’s 2024 findings on billions of naira in unaccounted-for social intervention funds, SERAP said independent oversight and strict financial controls were necessary to prevent abuse.

It gave the ministry seven days to comply with its demands, warning it would pursue legal action in the public interest if the ministry failed to comply.

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