The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against all state governors and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, over their failure to account for N5.9 trillion and $4.6 billion loans.
SERAP is seeking a court order to compel the governors and the FCT Minister to account for the loans and publish copies of the loan agreements, including details and locations of projects executed with the loans.
They also want the court to direct the defendants to invite the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the spending of all the loans obtained to date by their states and the FCT.
SERAP argues that transparency in the spending of the loans is fundamental to increase accountability, prevent corruption, and build trust in democratic institutions to strengthen the rule of law.
The organization also claims that many states and the FCT are reportedly spending public funds, including loans, on unnecessary travel, exotic and bulletproof cars, and lavish lifestyles of politicians, while owing civil servants’ salaries and pensions and denying millions of Nigerian residents access to essential public goods and services.
The lawsuit is yet to be assigned to a judge.
