In a lawsuit filed on Friday in Abuja, the Socio-Economic Rights and Accountability Project (SERAP) initiated legal action against the governors of the 36 states of Nigeria and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, News About Nigeria reports.
The lawsuit, numbered FHC/ABJ/CS/592/2024, is connected to their alleged failure to account for and publish agreements related to loans totaling N5.9 trillion and $4.6 billion obtained by their respective states and the FCT.
It seeks to compel the governors and the FCT Minister to disclose the details of the loans obtained and the projects executed with the funds.
The organisation argues that transparency in the spending of loans is essential for increasing accountability, preventing corruption, and building trust in democratic institutions.
It also expressed concerns about reports of public funds being misused for unnecessary expenses and the lavish lifestyles of politicians.
While no hearing date has been set for the suit, SERAP stated that the poverty rate, underdevelopment, and lack of access to public goods and services in Nigeria are partly attributable to allegations of corruption and mismanagement of public funds, including loans obtained by states and the FCT.
According to the Debt Management Office, Nigeria’s total public domestic debt portfolio for the 36 states and the FCT is N5.9 trillion, while the total public external debt portfolio stands at $4.6 billion.
SERAP said that these loans are vulnerable to corruption and mismanagement, underscoring the need for transparency and accountability in their utilisation.
The lawsuit follows SERAP’s earlier demand, issued on March 31, 2024, to the 37 respondents, including the governors and the FCT Minister.
In the statement, SERAP urged the court to compel the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the spending of the loans.
