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HomeCrimeSERAP sues Sani, Wike, others Over N5.9trn, $4.6bn Unaccounted Loans

SERAP sues Sani, Wike, others Over N5.9trn, $4.6bn Unaccounted Loans

The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal proceedings against Nigeria’s governors and the Minister of the Federal Capital Territory, Mr. Nyesom Wike, for their alleged failure to account for a staggering sum of N5.9 trillion and $4.6 billion in loans acquired by their respective states and the FCT. SERAP demands transparency in loan agreements and detailed disclosure of project execution locations.

 

The lawsuit, filed at the Federal High Court, Abuja, follows revelations made by Governor Uba Sani of Kaduna State regarding the daunting debt legacy inherited from the previous administration, hindering the state’s financial obligations, including salary payments.

 

SERAP’s petition urges the court to compel the governors and Mr. Wike to furnish comprehensive accounts of the loans acquired and to disclose copies of associated loan agreements. Furthermore, SERAP calls for an investigation by the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) into the utilization of these loans.

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Highlighting the public interest in transparency, SERAP asserts that Nigerians deserve access to loan agreements to scrutinize government spending. The organization raises concerns over alleged misappropriation and extravagant spending by states and the FCT, emphasizing the need for accountability to prevent corruption and foster trust in democratic institutions.

 

As millions of citizens endure salary delays and limited access to essential services, SERAP stresses the importance of transparent loan expenditure to enhance governance accountability and uphold the rule of law in Nigeria.

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