SERAP has initiated legal proceedings against the Tinubu administration, demanding transparency on loan agreements and spending details from previous administrations, citing Nigerians' right to information and government accountability.
SERAP has initiated legal proceedings against the Tinubu administration, demanding transparency on loan agreements and spending details from previous administrations, citing Nigerians' right to information and government accountability.
The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal action against President Bola Tinubu's government, alleging a failure to disclose details on how loans obtained by former presidents Olusegun Obasanjo, Umaru Musa Yar'Adua, Goodluck Jonathan, and Muhammadu Buhari were spent.
In a lawsuit filed at the Federal High Court in Lagos, SERAP is seeking a court order compelling the Tinubu administration to publish the loan agreements and spending details of these past loans, including interest payments and other associated costs.
SERAP argues that Nigerians have a right to democratic governance, which includes access to information about how public funds are being utilized. The organization contends that the lack of transparency surrounding these loans undermines accountability and raises concerns about potential mismanagement or misappropriation of funds.
"No one should be able to pull curtains of secrecy around decisions on the spending of public funds which can be revealed without injury to the public interest," SERAP stated in the suit. "Democracy requires accountability, and accountability requires transparency."
The lawsuit names the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Debt Management Office (DMO) as defendants. According to SERAP, the total public domestic debt portfolio for Nigeria currently stands at N97.3 trillion ($108 billion), with the Federal Government's debt accounting for N87.3 trillion ($97 billion).
SERAP argues that publishing the loan agreements and spending details would allow Nigerians to scrutinize how these funds were utilized and demand accountability from the government. The organization cites Nigeria's constitutional provisions, the Freedom of Information Act, and international human rights obligations as the legal basis for its demand for transparency.
"Nigerians are entitled to information about what their government is doing in their name. This is part of their right to information," SERAP stated in the suit.
The Tinubu administration has yet to respond to the lawsuit, but the legal action highlights the ongoing struggle for transparency and accountability in the management of public finances in Nigeria.
