SUN, FEB 04 2024-theGBJournal|“Servicing IMF loan that is allegedly missing, diverted or unaccounted for is double jeopardy for Nigerians, says Socio-Economic Rights and Accountability Project (SERAP).
”They can neither see nor benefit from the projects for which the loan was approved; yet, they are made to pay both the loan and accrued interests.”
SERAP has consequently urged President Bola Tinubu to direct the Attorney General of the Federation and Minister of Justice Mr Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to promptly probe the allegations of $3.4 billion loan obtained from the International Monetary Fund (IMF) is missing, diverted or unaccounted for.
SERAP notes that the 2020 annual audited report published last week by the Auditor-General of the Federation documents made damning revelations including that there was no document to show the movement and spending of the IMF loan.
“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,” SERAP said in a letter on Sunday.
In the letter dated 3 February 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “There is a legitimate public interest in ensuring justice and accountability for these serious allegations. Taking these important measures would end the impunity of perpetrators.”
According to SERAP, “Any failure to investigate these grave allegations, bring suspected perpetrators to justice and recover any missing IMF loan would have serious resource allocation and exacerbate the country’s debt burden.”
The letter, read in part: “We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.”
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