The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to launch an investigation into the allegations surrounding a $3.4 billion loan obtained from the International Monetary Fund (IMF).
According to Channels Television, in a statement released on Sunday, SERAP specifically urged the President to direct the Attorney General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, along with appropriate anti-corruption agencies, to promptly probe the serious claims.
The call for investigation comes in the wake of the 2020 annual audited report published last week by the Auditor-General of the Federation.
The report allegedly reveals damning revelations, including the absence of documentation to account for the movement and spending of the IMF loan.
Kolawole Oluwadare, SERAP’s deputy director, emphasized the need for prosecution if there is sufficient admissible evidence against anyone suspected to be responsible.
Oluwadare stated,
“Anyone suspected to be responsible should face prosecution as appropriate if there is sufficient admissible evidence, and any missing IMF loan should be fully recovered and returned to the public treasury.”
The group highlights the legitimate public interest in ensuring justice and accountability for these serious allegations.
Taking appropriate measures, according to SERAP, would put an end to the impunity of perpetrators and address the concerns of the public.
SERAP expressed the double jeopardy faced by Nigerians in servicing an IMF loan that is allegedly missing, diverted, or unaccounted for.
The citizens neither witness nor benefit from the projects for which the loan was approved, yet they are burdened with the responsibility of repaying both the loan and accrued interests.
Failure to investigate these grave allegations, bring suspected perpetrators to justice, and recover any missing IMF loan, according to SERAP, could have severe consequences on resource allocation and worsen the country’s debt burden.
The organization has given a timeframe of 7 days for the recommended measures to be taken, stating that a lack of response would lead to them considering legal actions to compel the government to comply with their request in the public interest.