SERAP Files Lawsuit Against Wike and Governors Over Unaccounted N5.9 Trillion and $4.6 Billion Loans,


Demands Publication of Loan Agreements

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The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal action against Nigerian governors and the Minister of the Federal Capital Territory, Mr. Nyesom Wike, over their alleged failure to account for loans totaling N5.9 trillion and $4.6 billion obtained by their states and the FCT.

The lawsuit, filed at the Federal High Court in Abuja under suit number FHC/ABJ/CS/592/2024, seeks to compel the governors and Mr. Wike to disclose details of loan agreements and project locations financed by the loans.

SERAP’s action follows Governor Uba Sani’s revelation last month that Kaduna State inherited significant debt from the previous administration, rendering it unable to meet salary obligations.

In its filing, SERAP demands transparency in loan utilization and urges the court to direct the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the spending of the loans.

The organization argues that public interest warrants disclosure of loan agreements, asserting that opacity in spending negatively impacts citizens’ fundamental interests. It highlights concerns over misuse of public funds, including reports of extravagant spending on luxury items by politicians while civil servants’ salaries remain unpaid.

SERAP contends that borrowing for recurrent expenses exacerbates socio-economic challenges, depriving citizens of essential services like education and healthcare.

No hearing date has been set for the case.

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