SERAP sues Buhari over alleged secrecy in spending loans, debt crisis | The Guardian Nigeria News - Nigeria and World News

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Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit at the Economic Community of West African States (ECOWAS) Court of Justice in Abuja against the government of President Muhammadu Buhari.

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The suit is challenging alleged secrecy in the spending of loans obtained, the unsustainable level of borrowing by the government and the 36 states, debt crisis, and disproportionately negative impact of these retrogressive measures on poor Nigerians.

In the suit filed by SERAP lawyers, Kolawole Oluwadare and Opeyemi Owolabi, on behalf of concerned Nigerians, the organisation contends that persistent and unsustainable borrowing by 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.

“There is lack of transparency and accountability in spending of the loans so far obtained, and opacity around the terms and conditions in loan agreements, including repayment details for these loans. The details of the projects on which the loans are spent are shrouded in secrecy,” SERAP argues. In the suit, the organisation contends that long-term unsustainable debt can be a barrier to the government’s ability to mobilise resources for human rights, and may lead to taxes and user fees that impact negatively on vulnerable and marginalised Nigerians.

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