The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal action against the administration of President Bola Tinubu.
The lawsuit addresses the government’s failure to disclose the spending details of loans obtained by former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan, and Muhammadu Buhari.
The case, filed against the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Debt Management Office (DMO), is registered as suit number FHC/L/CS/353/2024 at the Federal High Court in Lagos. SERAP is seeking a court order compelling the Tinubu government to publish the loan agreements and spending details, including interests and payments made on these loans.
SERAP contends that, “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.”
They further argue that access to this information will enable citizens to judge the government’s performance.
SERAP states, “The information may help to explain why, despite several billions of dollars in loans obtained by successive governments, millions of Nigerians continue to face extreme poverty and lack access to basic public goods and services.”
The legal team representing SERAP, including Kolawole Oluwadare and Andrew Nwankwo, highlights the necessity for public scrutiny, stating: “Publishing the loan agreements would improve public accountability in ministries, departments and agencies (MDAs). Nigerians are entitled to information about what their government is doing in their name. This is part of their right to information.”
The lawsuit exposes the significant public debt and interest payments, pointing out that the total public domestic debt is N97.3 trillion ($108 billion), with the Federal Government’s debt at N87.3 trillion ($97 billion).
SERAP notes, “Substantial parts of the loans obtained by successive governments since the return of democracy in 1999 may have been mismanaged, diverted or stolen, and in any case remain unaccounted for.”
By invoking the Freedom of Information Act, the Nigerian Constitution, and international human rights obligations, SERAP asserts the government’s duty to ensure transparency and accountability in loan management.
No date has been set for the hearing of the suit.
