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SERAP Gives Govs, Others 7 Days To Account For N5.9trn, $4.6bn Loans

Socio-Economic Rights and Accountability Project (SERAP) has urged Nigeria’s 36 state governors and the Minister of the Federal Capital Territory, Abuja, Mr Nyesom Wike 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

In a publication on its official website, SERAP also urged them to promptly 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 states and the FCT.

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”SERAP also urged them to promptly 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”

”The 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 liabilities, making it impossible for the state to pay salaries” it adds

SERAP said Nigerians deserve to know how loans obtained are spent.

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“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.”

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