Wike, Sani, Others Get 7 Days Ultimatum To Publish Loan Agreements, Account For N5.9trn, $4.6bn

The Socio-Economic Rights and Accountability Project (SERAP) has given the Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, Governor Uba Sani of Kaduna State and other governors seven days ultimatum to publish copies of the loan agreements and spending details of N5.9 trillion and $4.6 billion loans obtained by their states and the FCT.

Also to be included are details and locations of projects executed with the loans.

SERAP called on Wike and the governors to invite the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Economic and Financial Crimes Commission (EFCC) to investigate the spending of the domestic and external loans obtained by their states and the FCT.

SERAP’s request came on the heels of the disclosure made last week by Governor Sani that the immediate past administration of Mr. Nasir El-Rufai left $587m, N85bn debt and 115 contractual liabilities, making it impossible for the state to pay salaries.

In the Freedom of Information requests dated March 30, 2024 and signed by SERAP Deputy Director, Kolawole Oluwadare, the organisation said that publishing copies of the loan agreements and spending details of the loans obtained would ensure that persons with public responsibilities are answerable to the people

The organisation said that if it does not get responses from Wike and the governors, it would take appropriate legal actions to compel them to comply with its request in the public interest.

The FoI requests, read in part: “SERAP is seriously concerned that many of the country’s 36 states and FCT are allegedly mismanaging public funds which may include domestic and external loans obtained from bilateral and multilateral institutions and agencies.”

“According to Nigeria’s Debt Management Office, the total public domestic debt portfolio for the country’s 36 states and the Federal Capital Territory is N5.9 trillion. The total public external debt portfolio is $4.6 billion.”

“Many states and the FCT reportedly owe civil servants’ salaries and pensions. Several states are borrowing to pay salaries. Millions of Nigerians resident in your state and the FCT continue to be denied access to basic public goods and services such as quality education and healthcare.”

“Several states including your state are also reportedly spending public funds which may include the domestic and external loans to fund unnecessary travels, buy exotic and bulletproof cars and generally fund the lavish lifestyles of politicians.”

“SERAP is concerned that there is a significant risk of mismanagement or diversion of funds linked to loans obtained by state governments including your state. The accounts of Nigeria’s 36 states and the FCT are generally not open to public scrutiny.”

“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and your state to comply with our request in the public interest.”