Transparency Call: Tinubu Pressured To Release Loan Deals Inked By Obasanjo, Yar’Adua, Jonathan, Buhari

Transparency Call: Tinubu Pressured To Release Loan Deals Inked By Obasanjo, Yar’Adua, Jonathan, Buhari....KINDLY READ THE FULL STORY HERE▶

Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to direct relevant ministries, departments, and agencies (MDAs) to provide copies of loan agreements obtained by former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan, and Muhammadu Buhari.

In a Freedom of Information request dated 13 April 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organization seeks not only the loan agreements but also the spending details, including interests and other payments made on the loans. SERAP also calls for an independent audit on the spending of these loans and demands the findings to be made public.

According to SERAP, disclosing these agreements would promote transparency and combat waste, corruption, mismanagement, and abuse in public funds’ spending. They emphasize that transparency is vital for democracy and accountability.

The request highlights the citizens’ right to know what their government is doing and their entitlement to information about government actions. SERAP emphasizes that transparency fosters accountability and allows citizens to assess their government’s performance and hold it accountable.

SERAP expresses concern about the massive public debt of Nigeria and the lack of accountability regarding loans obtained since 1999. They argue that publishing these agreements would enable Nigerians to scrutinize government spending and demand accountability.

If President Tinubu fails to respond within seven days, SERAP threatens legal action to compel compliance, citing constitutional and international obligations regarding transparency and citizens’ right to information.

The organization stresses that transparency obligations are imposed on the government by the Nigerian Constitution, the Freedom of Information Act, and international conventions. They argue that citizens have a right to access information about their government’s activities.

SERAP’s call for transparency in disclosing loan agreements aims to ensure accountability, reduce vulnerability to corruption, and fulfill the government’s responsibility to its citizens.

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