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Friday, June 14, 2024

SERAP sues Tinubu over refusal to probe alleged missing $3.4bn IMF loan

SERAP sues Tinubu over refusal to probe alleged missing $3.4bn IMF loan

Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Bola Tinubu over his government’s failure to probe allegations that a $3.4 billion loan obtained by Nigeria from the International Monetary Fund to finance the budget and respond to COVID-19 is missing, diverted or unaccounted for.”

The allegations are contained in the recently published 2020 Nigeria’s annual audited report by the Auditor-General of the Federation.

In the suit number FHC/ABJ/CS/269/2024 filed at the Federal High Court in Abuja, SERAP is asking the court “to direct and compel President Tinubu to probe the allegations that $3.4 billion loan obtained by Nigeria from the IMF to finance the budget and respond to COVID-19 is missing, diverted or unaccounted for.”

READ ALSO: Nigerian editors, SERAP sue Buhari, NBC over closure of 53 broadcast stations

Lateef Fagbemi, SAN, the Attorney General of the Federation and Minister of Justice was joined as Respondent in the suit.

In the suit, SERAP is also seeking, “an order of mandamus to direct and compel President Tinubu to ensure the effective prosecution of anyone suspected to be responsible for the alleged mismanagement and diversion of the $3.4 billion IMF loan obtained by Nigeria to finance the budget and respond to the COVID- 19 pandemic.”

SERAP is also seeking: “an order of mandamus to direct and compel President Tinubu to ensure the full recovery of the missing $3.4 billion IMF loan obtained by Nigeria to finance the budget and respond to the COVID-19 pandemic.”

READ ALSO: SERAP Files Suit Stop Buhari from Spending N26bn on Travels, Meals

SERAP is arguing that: “Investigating these grave allegations, bringing suspected perpetrators to justice, and recovering any missing IMF loan would contribute to addressing the country’s economic crisis and debt burden.”

SERAP also argued that “The findings by the Auditor-General suggest a grave violation of the public trust, the provisions of the Nigerian Constitution 1999 [as amended], national anti-corruption laws, and the country’s obligations under the UN Convention against Corruption.”

No date has been fixed for the hearing of the suit.

Faruk Khalil
Faruk Khalilhttps://nigeriansketch.com/
Khalil Faruk (Deputy Editor-in-Chief), has a Bachelors and Master's degree in Political Science and has worked as a reporter, features editor and Deputy Editor-in-Chief respectively in a leading Nigerian daily. He has undergone trainings in journalism, photo journalism and online journalism within and outside Nigeria.

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