SERAP Issues Ultimatum to Nigerian Governors for Loan Transparency

The Socio-Economic Rights and Accountability Project (SERAP) has issued a one-week ultimatum to Governor Uba Sani of Kaduna State, Minister of the Federal Capital Territory Nyesom Wike, and 35 other state governors, demanding transparency regarding loan agreements and spending details. 

SERAP emphasized the importance of disclosing these details to the public, including the “details and locations of projects executed with the loans,” totaling N5.9 trillion and $4.6 billion.

The organization’s Deputy Director, Kolawole Oluwadare, highlighted SERAP’s call for the wide publication of these requests, stressing the need for accountability among public officials. SERAP also urged the governors and the FCT minister to invite the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Economic and Financial Crimes Commission (EFCC) to investigate the spending of these loans.

SERAP’s request follows Governor Sani’s disclosure about the significant debt inherited from his predecessor. The organization emphasized the public interest in publishing copies of loan agreements and expenditure details to ensure transparency and accountability in the management of public funds.

Meanwhile, SERAP expressed concerns about potential mismanagement and corruption associated with these loans, calling upon state governments to fulfill their obligations under international anticorruption and human rights laws. They stressed the importance of citizens’ participation in government decision-making, particularly regarding the spending of loans obtained by state governments and the FCT.