SERAP drags Buhari govt to ECOWAS Court over ‘secrecy in spending of loans, debt crisis’

23/01/2022 1:37:00 PM

SERAP drags Buhari govt to ECOWAS Court over ‘secrecy in spending of loans, debt crisis’

Buhari, Ecowas

SERAP drags Buhari govt to ECOWAS Court over ‘secrecy in spending of loans, debt crisis’

before the ECOWAS Court of Justice in Abuja, SERAP is seeking: “An order directing and compelling the Federal Government to issue an immediate moratorium on borrowing by itself

SERAP is also seeking “an order directing and compelling the Federal Government to publish details of spending of the loans obtained by governments since 1999 including the list of projects and locations of any such projects on which these loans have been spent.”

In the the suit filed by SERAP and behalf of concerned Nigerians, the organisation contends that, “Persistent and unsustainable borrowing by the federal and state governments and the crippling debt burden undermine the rights of Nigerians to economic and social development, and are antithetical to the public interest.”

Read more:
Punch Newspapers »

Like this SERAP is not tired, which of the issues they bring end with resolution. Let keep enduring it now. All the cases since, una never win any one? Ifb Na only mouth serap get jare Post better news abeg Na pinkin wey nor no e mama boyfriend dey call am uncle...

SERAP takes Buhari govt to ECOWAS court over secrecy in spending of loans, othersThe Socio-Economic Rights and Accountability Project ( SERAP ) has filed a lawsuit against President Muhammadu Buhari government over 'secrecy in the

SERAP sues Nigerian govt over ‘secrecy in spending of loans, debt crisis’ SERAP is also seeking “an order directing and compelling the Federal Government to publish details of spending of the loans obtained by governments...'

SERAP takes Buhari govt to ECOWAS court over secrecy in spending of loans, othersThe Socio-Economic Rights and Accountability Project ( SERAP ) has filed a lawsuit against President Muhammadu Buhari government over 'secrecy in the

SERAP sues Nigerian govt over ‘secrecy in spending of loans, debt crisis’ SERAP is also seeking “an order directing and compelling the Federal Government to publish details of spending of the loans obtained by governments...'

My govt will crush terrorists, Buhari reassures Kaduna residentsThe President, Major General Muhammadu Buhari (retd.), on Friday, has reassured residents of Kaduna of his regime’s determination to crush terrorists and criminal gangs operating in the state and other parts of the country. So is it okay to say you are crushing on the terrorists .. This guy de ment 🙄🙄 I don’t understand

What PDP chairman discussed with Obasanjo in Abeokuta'Today, this clueless APC and President Muhammad Buhari has undone that and has plunged Nigeria into eternal debt.'

, and the 36 states, in conformity with the country’s international human rights obligations.Don Silas The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari government over “secrecy in the spending of loans so far obtained, the unsustainable level of borrowing by the government and the 36 States, debt crisis, and the disproportionately negative impact of these retrogressive measures on poor Nigerians.Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the government of President Muhammadu Buhari over “secrecy in the spending of loans so far obtained, the unsustainable level of borrowing by the government and the 36 states, debt crisis, and the disproportionately negative impact of these retrogressive measures on poor Nigerians.Don Silas The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari government over “secrecy in the spending of loans so far obtained, the unsustainable level of borrowing by the government and the 36 States, debt crisis, and the disproportionately negative impact of these retrogressive measures on poor Nigerians.

” SERAP is also seeking “an order directing and compelling the Federal Government to publish details of spending of the loans obtained by governments since 1999 including the list of projects and locations of any such projects on which these loans have been spent.” In the the suit filed by SERAP and behalf of concerned Nigerians, the organisation contends that, “Persistent and unsustainable borrowing by the federal and state governments and the crippling debt burden undermine the rights of Nigerians to economic and social development, and are antithetical to the public interest. This was contained in a statement by Kolawole Oluwadare, SERAP’s Deputy Director, on Sunday.” SERAP is arguing that, “The crippling debt burden is a human rights issue within the jurisdiction of the ECOWAS Court because when the entire country is burdened by unsustainable debts, there will be little money left to ensure access of poor and vulnerable Nigerians to legally enforceable socio-economic rights.” In the suit filed by SERAP on behalf of concerned Nigerians, the organisation contends that “Persistent and unsustainable borrowing by the federal and state governments and the crippling debt burden undermine the rights of Nigerians to economic and social development, and are antithetical to the public interest.” SERAP is also arguing that, “There is lack of transparency and accountability in the spending of the loans so far obtained, and opacity around the terms and conditions in loan agreements, including repayment details for these loans.” SERAP is also seeking an order that will direct and compel the Federal Government of Nigeria to publish details of spending of the loans obtained by governments since 1999, as well as the list of projects and locations of any such projects on which these loans have been spent. The details of the projects on which the loans are spent are shrouded in secrecy. According to the organization, there is a lack of transparency and accountability in the spending of the loans obtained so far, and opacity around the terms and conditions in loan agreements, including repayment details for these loans, adding that the details of the projects on which the loans are spent are shrouded in secrecy.

” SERAP is also seeking “an order directing and compelling the Federal Government to conduct assessment of the borrowing by governments since 1999 to address the dire consequences of unsustainable debts on people and communities and to ensure that borrowing at all levels of government considers the human rights impacts. However, the date for the hearing of the suit is yet to be fixed. The details of the projects on which the loans are spent are shrouded in secrecy.” In the suit filed by SERAP lawyers Kolawole Oluwadare and Opeyemi Owolabi, the organisation contends that, “Long-term unsustainable debt can be a barrier to the government’s ability to mobilize resources for human rights, and may lead to taxes and user fees that impact negatively on vulnerable and marginalized Nigerians.” The suit, read in part: “If not addressed, the escalating borrowing and looming debt crisis would cripple the ability of both the Federal Government and the 36 states to deliver ensure basic socio-economic rights, such as quality healthcare, education, and clean water of the most vulnerable and marginalized sectors of the population.” “Without a moratorium on borrowing, the Federal Government and many of the 36 states may be caught in a process driven mostly by creditors’ needs.” The suit, read in part: “If not addressed, the escalating borrowing and looming debt crisis would cripple the ability of both the Federal Government and the 36 states to deliver ensure basic socio-economic rights, such as quality healthcare, education, and clean water of the most vulnerable and marginalized sectors of the population. This will result in an exorbitant social cost for the marginalized and vulnerable sectors of the population.

” “The ability of the Nigerian government to ensure human rights is inextricably related to the ability to spend needed resources. Growing debt burdens and debt repayment difficulties will have negative impacts on the ability of the Defendant to fulfill the basic socio-economic rights of poor and vulnerable Nigerians.” “The ability of the Nigerian government to ensure human rights is inextricably related to the ability to spend needed resources.” Read Also .