{"id":111195,"date":"2024-03-31T17:16:03","date_gmt":"2024-03-31T16:16:03","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=111195"},"modified":"2024-03-31T17:16:03","modified_gmt":"2024-03-31T16:16:03","slug":"serap-gives-sani-wike-others-7-days-to-publish-loan-agreements-account-for-n5-9trn-4-6bn-loans","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/serap-gives-sani-wike-others-7-days-to-publish-loan-agreements-account-for-n5-9trn-4-6bn-loans\/","title":{"rendered":"SERAP gives Sani, Wike, others 7 days to publish loan agreements, account for N5.9trn, $4.6bn loans"},"content":{"rendered":"
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Socio-Economic Rights and Accountability Project (SERAP) has urged Nigeria\u2019s 36 state governors and the Minister of the Federal Capital Territory, Abuja, Mr Nyesom Wike to \u201cwidely 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.\u201d<\/div>\n
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SERAP also urged them to \u201cpromptly 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 your state and the FCT.\u201d<\/p>\n

SERAP\u2019s request followed 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 labilities, making it impossible for the state to pay salaries.<\/p>\n

In the Freedom of Information requests dated 30 March 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: \u201cIt is in the public interest to publish copies of the loan agreements and details of how the loans obtained are spent.\u201d<\/p>\n

SERAP said, \u201cNigerians have the right to know how their states are spending the domestic and external loans obtained by the governors.\u201d<\/p>\n

SERAP said, \u201cWidely 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.\u201d<\/p>\n

The FoI requests, read in part: \u201cWe 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.\u201d<\/p>\n

\u201cSERAP is seriously concerned that many of the country\u2019s 36 states and FCT are allegedly mismanaging public funds which may include domestic and external loans obtained from bilateral and multilateral institutions and agencies.\u201d<\/p>\n

\u201cTransparency in the spending of the loans obtained by your state is fundamental to increase accountability, prevent corruption, and build trust in democratic institutions with the ultimate aim of strengthening the rule of law.\u201d<\/p>\n

\u201cAccording to Nigeria\u2019s Debt Management Office, the total public domestic debt portfolio for the country\u2019s 36 states and the Federal Capital Territory is N5.9 trillion. The total public external debt portfolio is $4.6 billion.\u201d<\/p>\n

\u201cMany states and the FCT reportedly owe civil servants\u2019 salaries and pensions. Several states are borrowing to pay salaries. Millions of Nigerians resident in your state and the FCT continue to be denied access to basic public goods and services such as quality education and healthcare.\u201d<\/p>\n

\u201cSeveral states including your state are also reportedly spending public funds which may include the domestic and external loans to fund unnecessary travels, buy exotic and bulletproof cars and generally fund the lavish lifestyles of politicians.\u201d<\/p>\n

\u201cSERAP is seriously concerned that the domestic and external loans obtained by your state and the FCT are vulnerable to corruption and mismanagement. Your government has a responsibility to ensure transparency and accountability in how any loans obtained by your state are spent, to reduce vulnerability to corruption and mismanagement.\u201d<\/p>\n

\u201cPublishing copies of the loan agreements obtained by your state and the FCT would allow Nigerians to scrutinise them, and promote transparency and accountability on the spending of public funds including the loans obtained.\u201d<\/p>\n

\u201cSERAP believes that providing and widely publishing the details of the spending of the domestic and external loans obtained by your state and the FCT would enable Nigerians to effectively and meaningfully engage in the management of the loans.\u201d<\/p>\n

\u201cSERAP believes that the constitutional principle of democracy also provides a foundation for Nigerians\u2019 right to know the details of loan agreements and how the loans obtained are spent. Citizens\u2019 right to know promotes openness, transparency, and accountability that is in turn crucial for the country\u2019s democratic order.\u201d<\/p>\n

\u201cThe effective operation of representative democracy depends on the people being able to scrutinize, discuss and contribute to government decision making, including on the spending of loans obtained by your state and the FCT.\u201d<\/p>\n

\u201cTo do this, they need information to enable them to participate more effectively in the management of public funds by their state government and the FCT.\u201d<\/p>\n

\u201cThe public interest in obtaining information about expenditures relating to the loans obtained by your state outweighs any privacy or other interest. Moreover, the oversight afforded by public access to such details would serve as an important check on the activities of your state and help to prevent abuses of the public trust.\u201d<\/p>\n

\u201cSERAP is concerned that there is a significant risk of mismanagement or diversion of funds linked to loans obtained by state governments including your state. The accounts of Nigeria\u2019s 36 states and the FCT are generally not open to public scrutiny.\u201d<\/p>\n

\u201cYour state has obligations under international anticorruption and human rights law, including a responsibility to promote transparency and accountability in the management of public funds, prevent mismanagement or diversion of public funds, and redress any abuse of public trust.\u201d<\/p>\n

\u201cThe Nigerian Constitution, human rights and anticorruption treaties to which Nigeria is a state party also impose obligations on your state to prevent mismanagement or diversion of public funds including the loans obtained.\u201d<\/p>\n

\u201cSERAP is seriously concerned that years of allegations of corruption and mismanagement of public funds including the loans obtained by states have contributed to widespread poverty, underdevelopment and lack of access to public goods and services.\u201d<\/p>\n

\u201cOpacity in the spending of loans obtained by states has continued to have negative impacts on the fundamental interests of the citizens and the public interest.\u201d<\/p>\n

\u201cTransparency would ensure that these loans are not diverted into private pockets, and increase public trust that these loans are used and any future loans would be used to benefit Nigerians resident in your state.<\/p>\n

\u201cThe Freedom of Information Act, Section 39 of the Nigerian Constitution, article 9 of the African Charter on Human and Peoples\u2019 Rights and article 19 of the International Covenant on Civil and Political Rights guarantee to everyone the right to information, including about the loan agreements and how the loans obtained are spent.\u201d<\/p>\n

\u201cYour state cannot hide under the excuse that the Freedom of Information Act is not applicable to your state to refuse to provide the details being sought, as your state also has clear legal obligations to provide the information as prescribed by provisions of the Nigerian Constitution 1999 [as amended], and the African Charter on Human and Peoples\u2019 Rights (Ratification and. Enforcement) Act.<\/p><\/div>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Socio-Economic Rights and Accountability Project (SERAP) has urged Nigeria\u2019s 36 state governors and the Minister of the Federal Capital Territory, Abuja, Mr Nyesom Wike to \u201cwidely publish copies of the…<\/p>\n","protected":false},"author":1,"featured_media":56720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-111195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nSERAP gives Sani, Wike, others 7 days to publish loan agreements, account for N5.9trn, $4.6bn loans - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/serap-gives-sani-wike-others-7-days-to-publish-loan-agreements-account-for-n5-9trn-4-6bn-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SERAP gives Sani, Wike, others 7 days to publish loan agreements, account for N5.9trn, $4.6bn loans - 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