The Socio-Economic Rights and Accountability Project has filed a lawsuit against Nigeria 's governors and the Minister of the Federal Capital Territory, Abuja, Nyesom Wike,"over their failure to account for N5.9 trillion and $4.6 billion loans obtained by their states and the FCT, and to publish copies of the loan agreements, including details and locations of projects executed with the loans.
SERAP is also arguing that"Many states and the FCT are reportedly spending public funds which may include the loans obtained by them to fund unnecessary travels, buy exotic and bulletproof cars and generally fund the lavish lifestyles of politicians." The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare, Kehinde Oyewumi and Valentina Adegoke, read in part:"States and the FCT should be guided by transparency and accountability principles and proactively account for the loans obtained and publish copies of the loan agreements."
"The domestic and external loans obtained by the states and the FCT are vulnerable to corruption and mismanagement. The states and FCT have a responsibility to ensure transparency and accountability in how any loans obtained by the states and FCT are spent, to reduce vulnerability to corruption and mismanagement."
"The effective operation of representative democracy depends on the people being able to scrutinize, discuss and contribute to government decision making, including on the spending of loans obtained by the states and FCT."There was a problem processing your submission. Please try again later.
Source: Loan Digest (loandigest.net)
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