The Socio-Economic Rights and Accountability Project(SERAP )has actually submitted a claim against President Muhammadu Buhari government over “secrecy in the costs of loans so far acquired, the unsustainable level of loaning by the government and the 36 States, financial obligation crisis, and the disproportionately negative impact of these retrogressive procedures on bad Nigerians.”
In the suit number ECW/CCJ/APP/ 05/22 filed prior to the ECOWAS Court of Justice in Abuja last week, SERAP is seeking an order directing and engaging the Federal Government of Nigeria to release an instant moratorium on borrowing by itself, and the 36 States, in conformity with Nigeria’s worldwide human rights responsibilities.
This was consisted of in a declaration by Kolawole Oluwadare, SERAP’s Deputy Director, on Sunday.
In the lawsuit submitted by SERAP and on behalf of worried Nigerians, the company is contending that “persistent and unsustainable borrowing by the federal and state governments and the debilitating financial obligation burden undermines the rights of Nigerians to financial and social advancement, and are antithetical to the general public interest.”
SERAP is likewise looking for an order that will direct and compel the Federal Government of Nigeria to release details of spending of the loans gotten by federal governments since 1999, as well as the list of tasks and areas of any such projects on which these loans have been invested.
According to the organization, there is an absence of transparency and responsibility in the spending of the loans gotten so far, and opacity around the terms in loan agreements, consisting of repayment details for these loans, including that the details of the tasks on which the loans are spent are shrouded in secrecy.
However, the date for the hearing of the fit is yet to be fixed.