SERAP, the Socio-Economic Rights and Accountability Project, has issued an ultimatum to 36 state governors and the Federal Capital Territory Minister, including Kaduna State Governor Uba Sani and Rivers State Governor Nyesom Wike, demanding transparency in the disclosure of loan agreements and spending details. The loans in question amount to a staggering N5.9 trillion and $4.6 billion, and SERAP is seeking comprehensive information on how these funds were utilized, including the details and locations of projects executed with the loans.
This call for transparency comes amidst growing concerns over the management of state debts and the need for accountability in public spending. SERAP emphasizes the importance of ensuring that public officials are answerable to the citizens for the management of public funds, particularly in light of reports of mismanagement and misappropriation of funds in several states. The organization urges state governments to make copies of loan agreements and spending details readily available to the public, thereby fostering accountability and preventing corruption.
The ultimatum follows recent remarks by Kaduna State Governor Uba Sani, who disclosed the substantial debt burden inherited by his administration. Governor Sani highlighted the challenges posed by the debt, including the inability to meet salary obligations due to limited financial resources. SERAP underscores the urgency of transparency in loan utilization, stressing that citizens have the right to know how public funds are being spent and to hold government officials accountable for their stewardship.
In its Freedom of Information requests, SERAP outlines specific measures for ensuring transparency, including the invitation of anti-corruption agencies to investigate the spending of domestic and external loans. The organization warns that failure to comply with the ultimatum will result in legal action to compel compliance with the transparency demands. It emphasizes that transparency and accountability are essential for promoting good governance, safeguarding public resources, and enhancing public trust in government institutions.
Furthermore, SERAP expresses concern over the potential misuse of loans for non-essential purposes, such as funding extravagant lifestyles or unnecessary expenditures. It underscores the need for prudent financial management and responsible governance practices to ensure that borrowed funds are utilized for the benefit of the citizens and the development of critical infrastructure.
