Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu, to direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN) and appropriate anti-corruption agencies, to promptly and thoroughly investigate the spending of $1.5bn World Bank loan obtained by the 36 states and Abuja for poverty reduction and social protection across the states.
SERAP said, “Suspected perpetrators of corruption and mismanagement should face prosecution as appropriate, if there is sufficient admissible evidence, and any proceeds of corruption should be fully recovered.”
SERAP also urged him to direct Fagbemi and appropriate anti-corruption agencies to promptly investigate the alleged mismanagement of the Chinese loans of $3.121bn obtained by the Federal Government.
In the open letter dated 10 August 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said ensuring accountability for the spending of World Bank loans and Chinese loans, would build trust in democratic institutions with the ultimate aim of strengthening the rule of law.
“Impunity for corruption in the management of World Bank loans and Chinese loans will continue as long as high-ranking public officials go largely unpunished for their alleged crimes.
“It is by pursuing these allegations and taking the evidence before the court that the truth will be revealed and justice best served.
“There are reports that the $1.5bn World Bank loan to the 36 states and Abuja and the $3bn Chinese loans obtained by the Federal Government may have been mismanaged or diverted, and in any case remain unaccounted for.
“Investigating and prosecuting allegations of corruption and mismanagement in the spending of World Bank loans and Chinese loans would be entirely consistent with the Nigerian Constitution, and the country’s international anti-corruption obligations.
“Your government has the legal obligation to ensure accountability for the spending of the loans obtained from the World Bank and China. SERAP is concerned about the continuing lack of transparency and accountability in the management of World Bank loans and Chinese loans obtained by the states and the Federal Government.
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.”
