Call For Transparency: SERAP Urges Tinubu Government To Disclose Loan Agreements Of Past Administrations

Call For Transparency: SERAP Urges Tinubu Government To Disclose Loan Agreements Of Past Administrations

The Socio-Economic Rights and Accountability Project (SERAP) has directed a request to President Bola Tinubu, urging his administration to make public the loan agreements secured by previous administrations, including those of Presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan, and Muhammadu Buhari……READ ALSO SERAP Drags Senate President Akpabio To Court Over Budget Padding, Senator Ningi’s Suspension

In a Freedom of Information (FoI) request dated April 13, 2024, and signed by SERAP’s deputy director, Kolawole Oluwadare, the organization also demanded detailed information on the expenditure of these loans, as well as the interests and other payments made thus far.

SERAP emphasized the necessity for an independent audit of the spending associated with the loans acquired during the tenures of the aforementioned presidents, urging the publication of the findings of such audits.

The organization asserted that the disclosure of these agreements would serve as a deterrent to corruption, mismanagement, and abuse of public funds. It emphasized that decisions regarding the expenditure of public funds should not be shrouded in secrecy, particularly when such information can be disclosed without compromising national security.

According to SERAP, transparency in government spending is a fundamental aspect of democratic governance, enabling citizens to assess their government’s performance and hold it accountable.

The FoI request urged President Tinubu to demonstrate his administration’s commitment to transparency and accountability by making these loan agreements publicly available. It argued that such transparency would enhance public accountability within government ministries, departments, and agencies (MDAs).

SERAP further emphasized that the disclosure of these agreements would allow Nigerians to scrutinize the utilization of loans and demand accountability from the government. The organization stressed that transparency in government spending is crucial for ensuring effective utilization of resources and addressing challenges such as poverty and inadequate access to essential services.

The request concluded by urging President Tinubu to comply with the request within seven days of receipt or publication of the letter. SERAP emphasized that failure to do so would compel the organization to take legal action to enforce compliance in the public interest.

The call for transparency in government spending echoes constitutional provisions, including the Freedom of Information Act, the Nigerian Constitution, and international human rights treaties to which Nigeria is a signatory. These legal frameworks uphold the right of citizens to access information about their government’s activities, including details of loan agreements and expenditure.

Join our channel for more latest news https://whatsapp.com/channel/0029VaV4jB6DuMRgwqnJCF32