The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal action against President Bola Tinubu for failing to investigate the serious allegations that the $3.4 billion loan obtained by Nigeria from the International Monetary Fund (IMF) to finance the budget and respond to COVID-19 is missing, diverted or unaccounted for.
The allegations were made in Nigeria's 2020 annual audited report by the Auditor-General of the Federation.
In suit number FHC/ABJ/CS/269/2024 filed at the Federal High Court, Abuja on Friday, SERAP is asking for a court order directing President Tinubu to probe these allegations and ensure effective prosecution of anyone suspected of being responsible for the alleged mismanagement and diversion of funds meant for COVID-19 response.
Additionally, they are seeking an order mandating recovery of any missing IMF loan as investigating these grave allegations would help address the economic crisis and debt burden while also ensuring justice.
According to SERAP, servicing an allegedly missing IMF loan is double jeopardy as Nigerians cannot see or benefit from projects approved with this fund but still have to pay back both loans and accrued interests.
If perpetrators remain unpunished, impunity will continue while corruption exposes citizens daily to additional costs related to health care services among others, the group said.
"Nigeria's government must transparently use loans including those obtained from IMF solely for purposes intended without corrupt practices or abuse of power.
The UN Convention Against Corruption requires proper management of public affairs/funds including loans obtained by countries while promoting sound administration alongside dissuasive sanctions such as criminal/non-criminal penalties in cases where grand corruption occurs", SERAP said.
0 Comment(s)
SPONSORED
HEADLINE
TRENDING