By Amadin Idahosa
Intensifying efforts to acquire information on Federal Government’s activities since May 29, 2015, the Socio-Economic Rights and Accountability Project, SERAP is not relenting in attempts to gain access to records of debts Nigeria has accumulated over the years.
The group has made moves to obtain a court order seeking to compel President Muhammadu Buhari Administration to publish details of government borrowings and expenditures.
Aside records of the loans, SERAP also seeks to know the interest rate, the total amount of debts, as well as details of the projects on which the loans have been spent.
The recent probe was triggered by President Buhari’s move to get the approval of National Assembly for a fresh loan of $5.513 billion, reportedly to fund the 2020 budget deficit, critical projects, and support some states.
The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Adelanke Aremo, read in part: “The massive and growing national debts have continued to have negative impacts on socio-economic development and on Nigerians’ access to public goods and services, including quality education, adequate healthcare, clean water, and regular electricity supply.
“SERAP is seeking an order of mandamus to direct and compel President Buhari to tell Nigerians the names of countries and bodies that have given the loans, specific repayment conditions, and whether any public officers solicited and/or received bribes in the negotiations for any of the loans, and if there is plan to audit the spending of the loans, to resolve any allegations of mismanagement and corruption.
“SERAP is also asking the court to direct and compel President Buhari to tell Nigerians if he would instruct the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Economic and Financial Crimes Commission (EFCC) to monitor the spending of all loans obtained since May 2015.
“While access to loans can provide indispensable resources, the mismanagement and squandering of any such resources would be counter-productive. Nigerians should no longer be made to repay debts incurred in their name but which have not benefited them in any manner, shape or form.
“SERAP is praying the court to hold that the interest of the public in publishing the information sought is far greater than any other interest President Buhari may be trying to preserve.
“Transparency and accountability in the spending details of all the loans that have so far been obtained by the government, and those obtained by previous administrations would mean that the loans can help Nigeria to overcome its acute development challenges and reduce the possibility of mismanagement and corruption.
Joined as respondents in the suit number FHC/ABJ/CS/785/2020 are the Attorney General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami; the Minister of Finance, Budget and National Planning, Ms Zainab Ahmed; and the Director-General of the Debt Management Office, DMO, Ms Patience Oniha.
