SERAP Sues President Tinubu Over Transparency on Past Loans

By Abass Ganiyu
Lagos, Nigeria — The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Bola Tinubu’s administration for not disclosing the spending details of loans obtained by previous administrations. The suit, filed at the Federal High Court in Lagos, also targets the Minister of Finance, Mr. Wale Edun, and the Debt Management Office (DMO).

SERAP demands the publication of loan agreements and spending details from the tenures of former Presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan, and Muhammadu Buhari. The organization insists on transparency, arguing that citizens have the right to know how public funds are managed.
According to SERAP, despite the billions of dollars in loans, millions of Nigerians still face extreme poverty and lack basic services. The group highlights that transparency will enhance public accountability and reduce corruption.

The Debt Management Office reports Nigeria’s total public debt at N97.3 trillion ($108 billion), with significant annual interest payments. SERAP contends that much of the borrowed money has been mismanaged or remains unaccounted for. The lawsuit seeks to compel the government to ensure accountability and transparency in loan management to foster democratic governance and public trust.

Key Points:
- Lawsuit: Filed by SERAP against President Tinubu’s administration.
- Demand: Publication of past loan agreements and spending details.
- Targets: President Tinubu, Finance Minister Wale Edun, and the Debt Management Office.
- Rationale: Promote transparency and accountability.
- Debt Data: Nigeria’s public debt is N97.3 trillion, with billions paid annually in interest.

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