CISLAC Director, Auwal Rafsanjani Calls for Cancellation of Dubious Debts, Urges Financial Reforms

Auwal Rafsanjani, Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC) and Head of Transparency International Nigeria, has called for the cancellation of illegitimate and questionable debts burdening developing countries.

Speaking at the Financing for Development Conference held in Spain from June 30 to July 3, 2025, Rafsanjani also demanded urgent reforms of global financial institutions and stronger legislative oversight in development financing and public spending.

He emphasized the crucial role lawmakers must play in financial governance, particularly across African nations.

“Legislators must not be sidelined,” Rafsanjani asserted. “They are constitutionally empowered to approve budgets, loans, and debt agreements, and must ensure that both public and borrowed funds are used transparently and equitably.”

Describing many of the debts as “unjust,” he warned that their enforcement hampers development, imposes unsustainable burdens on future generations, and undermines national sovereignty.

The call comes amid rising concerns over Nigeria’s ballooning debt, which climbed to ₦144.39 trillion as of March 31, 2025, according to figures reported by Nigeria News 247.