Falana Calls For Accountability On ₦400 Billion COVID-19 Intervention Funds

Falana Calls For Accountability On ₦400 Billion COVID-19 Intervention Funds

Human rights lawyer, Femi Falana (SAN), has called on state governments to provide an account for the ₦438 billion allocated to revive businesses after the COVID-19 pandemic. According to Naija News, President Bola Tinubu revealed in a recent nationwide broadcast that over ₦400 billion was distributed to states…….. CONTINUE READING

In a statement, Falana emphasized the need for transparency regarding the utilization of these funds, which were confirmed by Tinubu. He argued that it is crucial for Nigerians to understand how the money was used in anti-poverty initiatives, especially given that the ₦438 billion represents the final portion of a $750 million World Bank loan to be repaid by the Nigerian people.

Falana explained that the loan was secured to implement the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG CARES) programme, aimed at supporting businesses affected by the pandemic. In March 2022, the federal government initially allocated ₦35.3 billion to the states. An additional ₦77 billion was distributed in April 2023 to combat multidimensional poverty, bringing the total to ₦112 billion.

In 2023, the federal government approved ₦135.4 billion in reimbursements to the states and the FCT for the NG CARES programme. By July 2024, over ₦438 billion was released to 34 states and the Federal Capital Territory under the Nigeria Community Action for Resilience and Economic Stimulus programme. Kaduna and Anambra were excluded from this latest disbursement due to unverified results.

Falana also noted that the president confirmed a total expenditure of ₦573 billion over nine months to address multidimensional poverty in Nigeria.

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