The Centre for Anti-Corruption and Open Leadership (CACOL) has criticised the National Assembly over its approval of new loan requests, raising concerns about transparency and accountability.
In a statement signed by its Director of Administration and Programmes, Tola Oresanwo, on behalf of Chairman Debo Adeniran, the group said the approval process appeared opaque and called for greater public disclosure.CACOL urged authorities to provide details of the loans, including terms, interest rates, intended projects and repayment plans. It said such information is necessary to ensure public understanding and oversight.
The organisation also raised concerns about Nigeria’s rising debt levels and called for clearer evidence of how previous loans have been utilised. It noted that citizens expect improved infrastructure and social services in return for increased borrowing.
The group further questioned the timing of new loan approvals, citing ongoing economic challenges and the impact of recent fiscal reforms. CACOL advised the administration of President Bola Ahmed Tinubu to prioritise revenue generation and reduce governance costs before seeking additional loans.It also urged the National Assembly to strengthen its oversight role by ensuring that borrowing decisions are backed by verifiable data and made available to the public.
