SERAP Wants Wike, Governors To Publish Loan Agreements, Account For N5.9trn, $4.6bn Loans

•Threatens Legal Action  

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, alongside the 36 state governors in Nigeria, were on Sunday, March 31, 2024, urged to publish copies of the loan agreements and spending details of some N5.9 trillion and $4.6 billion loans obtained by their states and the FCT, including details and locations of projects executed with the loans.

A human rights organisation, the Socio-Economic Rights and Accountability Project (SERAP), equally asked Wike and the 36 state governors to invite the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Economic and Financial Crimes Commission (EFCC) to investigate the spending of the domestic and external loans obtained by the states and the FCT.

SERAP made the request sequel to the disclosure last week by Governor Uba Sani of Kaduna State that the immediate past administration of Nasir El-Rufai left $587m, N85bn debt and 115 contractual liabilities, making it impossible for the state to pay salaries.

In Freedom of Information (FoI) request dated March 30, 2024, and signed by SERAP's deputy director, Kolawole Oluwadare, the group, said: “It is in the public interest to publish copies of the loan agreements and details of how the loans obtained are spent.

“Nigerians have the right to know how their states are spending the domestic and external loans obtained by the governors.

“Widely publishing copies of the loan agreements and spending details of the loans obtained would ensure that persons with public responsibilities are answerable to the people for the performance of their duties in the management of public funds.”

The FoI requests, read in part: “We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. 

“If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and your state to comply with our request in the public interest.”

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