The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to initiate a thorough investigation into the use of a $1.5 billion World Bank loan allocated to Nigeria’s 36 states and the Federal Capital Territory (FCT) for poverty reduction and social protection.
News About Nigeria reports that SERAP urged the President to direct the Attorney General of the Federation, Lateef Fagbemi, and relevant anti-corruption agencies to probe the potential mismanagement of these funds.
In an open letter dated August 10, 2024, SERAP also requested an investigation into the handling of $3.1 billion in Chinese loans obtained by the Federal Government for infrastructure projects.
The organisation said that transparency and accountability are needed in the management of both World Bank and Chinese loans, expressing concern over allegations of corruption and mismanagement.
SERAP urged Tinubu to prosecute those responsible for any financial misconduct and recovering misappropriated funds.
The group warned that impunity for corruption in loan management undermines trust in government institutions and worsens poverty and inequality across Nigeria.
“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.
“We note that while a governor may enjoy immunity from arrest and prosecution, he does not enjoy immunity from investigation. Any criminal allegation against a sitting governor can and should be investigated pending the time the governor leaves office and loses immunity.
“The findings of such an investigation can also be the basis for initiating impeachment proceedings against the governor,” the letter read.
The letter also referenced the Nigerian Constitution, stating that the government is obligated to combat corruption and ensure justice for the affected citizens.
SERAP urged immediate action to address the issues, warning that legal action may be pursued if the government fails to respond within seven days.
“Section 15(5) imposes the responsibility on your government to ‘abolish all corrupt practices and abuse of power’ in any part of the country. Section 15 defines ‘government’ to include the government of the federation, or of any state, or of a local government council, or any person who exercises power or authority on its behalf.
“The Nigerian Constitution and human rights treaties to which Nigeria is a state party impose obligations on your government to probe and prosecute allegations of corruption in the spending of World Bank loans and Chinese loans, and to ensure access to justice and effective remedies for victims of corruption.”
