SERAP Sues Tinubu, Demands Disclosure of Obasanjo, Buhari, and Others’ Loan Details

The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal action against the administration of President Bola Tinubu, citing the need for financial transparency.

The organization filed the lawsuit at the Federal High Court in Lagos, demanding the publication of detailed spending reports and agreements related to loans obtained by former Presidents Olusegun Obasanjo, Umaru Yar’Adua, Goodluck Jonathan, and Muhammadu Buhari.

SERAP argues that transparency in loan agreements and expenditures is essential for democratic governance and accountability, especially in light of persistent extreme poverty and inadequate public services despite substantial borrowing.

The lawsuit, numbered FHC/L/CS/353/2024, seeks to compel the Minister of Finance, Wale Edun, and the Debt Management Office to disclose how these loans, totaling billions of dollars, were utilized.

In a statement signed by its Deputy Director, Kolawole Oluwadare, SERAP highlighted that the outcome of the case could significantly impact the transparency and accountability mechanisms in Nigeria’s financial management.

The organization asserts that Nigerians have the right to know how public funds are spent and that democracy requires accountability, which in turn necessitates transparency.

The lawsuit emphasizes the importance of publishing the loan agreements and spending details to enable citizens to evaluate their government’s performance and hold it accountable for the utilization of loans.

SERAP emphasizes that no one should be able to conceal decisions on the spending of public funds, as transparency is crucial for democratic governance.

The statement further underscores that the Nigerian Constitution, the Freedom of Information Act, and international human rights instruments guarantee the right to information, including access to loan agreements and project detail

Ultimately, the lawsuit aims to curb corruption and financial mismanagement by holding public officials accountable for their actions. However, no hearing date has been set for the suit as of yet.