The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to disclose loan agreements procured by the administrations of past Presidents since 1999. The accountability and good governance advocacy organization requested the President “to instruct the appropriate ministries, departments, and agencies (MDAs) to provide our organization with copies of the loan agreements procured by the governments of former Presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan, and Muhammadu Buhari.”
This request was contained in a statement issued by SERAP’s Deputy Director, Kolawole Oluwadare. In addition to the loan agreements, SERAP is seeking “the spending details of any such loans as well as the interests and other payments made on the loans so far.”
SERAP also urges President Tinubu “to establish an independent audit on the spending of the loans procured by the governments of the former presidents, and to make public the findings of any such audit.” In the Freedom of Information request dated 13 April 2024 and signed by SERAP Deputy Director Kolawole Oluwadare, the organization stated: “Publishing copies of the agreements would prevent and combat waste, corruption, mismanagement, and abuse in the spending of public funds.”
SERAP further stated, “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. Democracy requires accountability and accountability requires transparency.”
According to SERAP, “Nigerians are entitled to information about what their government is doing in their name. This is part of their right to information.”
SERAP believes that “Nigerians’ right to a democratic governance allows them to appreciably influence the direction of government, and have an opportunity to assess progress and assign blame.”
SERAP further stated, “Your government should make it possible for citizens to have access to the agreements and spending details to judge whether their government is working for them or not.”
“Publishing the agreements would demonstrate your oft-expressed commitment to openness in government and to promote accountability. It would also improve public accountability in ministries, departments, and agencies (MDAs).”
“We would therefore be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government to comply with our request in the public interest.”
