The Socio-Economic Rights and Accountability Project has taken legal action against President Bola Tinubu’s administration, noting that the move became necessary to ensure financial transparency. administrations of former Presidents Olusegun Obasanjo , Umaru Yar’Adua, Goodluck Jonathan , and…The Socio-Economic Rights and Accountability Project has taken legal action against President Bola Tinubu’s administration, noting that the move became necessary to ensure financial transparency.
The organisation argued that transparency in loan agreements and expenditures is critical for Nigerians to evaluate their government’s performance, especially in light of persistent extreme poverty and inadequate public services despite substantial borrowing. SERAP is also asking the court to “direct and compel the Tinubu government to publish the spending details of any such loans, including the interests and other payments so far made on the loans.”
SERAP is arguing that “Nigerians’ right to a democratic governance allows them to appreciably influence the direction of government, and have an opportunity to assess progress and assign blame.” “Publishing the agreements and spending details would allow the public to see how and on what these governments spent the loans and foster transparency and accountability.”
“Substantial parts of the loans obtained by successive governments since the return of democracy in 1999 may have been mismanaged, diverted or stolen, and in any case remain unaccounted for.” “The Freedom of Information Act, Section 39 of the Nigerian Constitution, article 9 of the African Charter on Human and Peoples’ Rights and article 19 of the International Covenant on Civil and Political Rights guarantee to everyone the right to information, including copies of the loan agreements obtained by successive governments since 1999.”
The Nigeria Labour Congress has flayed state governors over their comment that they cannot afford to pay the N60,000 minimum wage earlier proposed by the Federal Government, warning that paying a miserable national minimum wage portends grave danger not only to the workforce but also the national economy at large.
Source: Loan News Today (loannewstoday.net)
Jonathan Obasanjo SERAP Yar'adua
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