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SERAP Sues Tinubu, Demands Details Of Obasanjo, Buhari, Others’ Loans

Published

1 year ago

June 9, 2024

Editor

The Socio-Economic Rights and Accountability Project has taken legal action against President Bola Tinubu’s administration.

The organisation described the move as necessary so as to ensure financial transparency.

The lawsuit demands the publication of detailed spending reports and agreements related to loans acquired by the administrations of former Presidents Olusegun Obasanjo, Umaru Yar’Adua, Goodluck Jonathan, and Muhammadu Buhari.

Filed last Friday at the Federal High Court in Lagos, the suit aims to compel the Minister of Finance, Wale Edun, and the Debt Management Office to disclose how these loans, totaling billions of dollars, were utilised.

SERAP contends that the citizens’ right to know how public funds are spent is fundamental to democratic governance and accountability.

The organisation argued that transparency in loan agreements and expenditures is critical for Nigerians to evaluate their government’s performance, especially in light of persistent extreme poverty and inadequate public services despite substantial borrowing.

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

The statement was titled, “SERAP sues Tinubu govt over failure to account for loans by ex-presidents.”

In the suit number FHC/L/CS/353/2024 filed last Friday at the Federal High Court, Lagos, SERAP is asking the court to “direct and compel the Tinubu government to publish the loan agreements obtained by the governments of former Presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari.”

SERAP is also asking the court to “direct and compel the Tinubu government to publish the spending details of any such loans, including the interests and other payments so far made on the loans.”

In the suit, SERAP is arguing that, “No one should be able to pull curtains of secrecy around decisions on the spending of public funds which can be revealed without injury to the public interest. Democracy requires accountability and accountability requires transparency.”

SERAP is also arguing that “The Tinubu government should make it possible for citizens to have access to the agreements and spending details to judge whether their government is working for them or not.”

“The information may help to explain why, despite several billions of dollars in loans obtained by successive governments, millions of Nigerians continue to face extreme poverty and lack access to basic public goods and services,” the statement added.

SERAP is arguing that, “Nigerians’ right to a democratic governance allows them to appreciably influence the direction of government, and have an opportunity to assess progress and assign blame.”

SERAP is also arguing that, “The accountability of government to the general public is a hallmark of democratic governance, which Nigeria seeks to achieve.”

The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Andrew Nwankwo, read in part: “Publishing the loan agreements would improve public accountability in ministries, departments and agencies (MDAs).”

“Nigerians are entitled to information about what their government is doing in their name. This is part of their right to information.

“Publishing the agreements and spending details would allow the public to see how and on what these governments spent the loans and foster transparency and accountability.

“Publishing the loan agreements signed by the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari, and widely publishing the agreements would allow Nigerians to scrutinise it and to demand accountability for the spending of the loans.

“According to Nigeria’s Debt Management Office, the total public domestic debt portfolio for the country’s is N97.3 trillion ($108 billion). The Federal Government’s debt is N87.3 trillion ($97 billion).”

“Nigeria paid $6.2 billion in 2019 as interest on loans while the country paid $6.5 as interest in 2018. Nigeria also paid $5 billion as interest on loans in 2017 while the country paid $4.4 billion as interest in 2016. For 2015, the interest paid on loans was $5.5 billion.

“Substantial parts of the loans obtained by successive governments since the return of democracy in 1999 may have been mismanaged, diverted or stolen, and in any case remain unaccounted for.

“Persons with public responsibilities ought to be answerable to the people for the performance of their duties including the management of the loans obtained between May 1999 and May 2023,” the statement read.

The organisation noted that this action becomes necessary to curb corruption and financial mismanagement.

“The Tinubu government has a responsibility to ensure transparency and accountability in how any loans obtained by the Federal Government are spent, to reduce vulnerability to corruption and mismanagement.”

“The Freedom of Information Act, Section 39 of the Nigerian Constitution, article 9 of the African Charter on Human and Peoples’ Rights and article 19 of the International Covenant on Civil and Political Rights guarantee to everyone the right to information, including to copies of the loan agreements obtained by successive governments since 1999.”

“By the combined reading of the provisions of the Constitution of Nigeria, the Freedom of Information Act 2011, the International Covenant on Civil and Political Rights, and the African Charter on Human and Peoples’ Rights, there are transparency obligations imposed on the Tinubu government to widely publish the agreements and details of the projects on which the loans were spent.”

“The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that citizens should have access to information regarding their government’s activities,” it further read.

Meanwhile, the statement asserted that no date has yet to be fixed for the hearing of the suit.

Headline

FULL LIST: Nigeria Emerges As Africa’s Third Most Formidable Military Force

Published

2 hours ago

June 23, 2025

Editor

Nigeria has secured the third position among African nations with the most formidable military forces in the 2025 Global Firepower Military Strength Index, according to Global Firepower’s annual report cited by The PUNCH on Monday.

The index evaluates 145 countries based on over 60 metrics, including troop numbers, equipment capabilities, financial resources, logistical efficiency, and geographical advantages to assess military strength.

In the 2025 rankings, Egypt maintains its lead as Africa’s top military power, followed by Algeria in second place and South Africa in fourth. Nigeria’s rise to third underscores its growing military capabilities, driven by investments in personnel, equipment, and counter-terrorism efforts.

Here is a list of African countries ranked in the 2025 Global Firepower Index.

1. Egypt (19)

2. Algeria (26)

3. Nigeria (31)

4. South Africa (40)

5. Ethiopia (52)

6. Angola (56)

7. Morocco (59)

8. Democratic Republic of the Congo (66)

9. Sudan (73)

10. Libya (76)

11. Kenya (83)

12. Chad (84)

13. Mozambique (89)

14. Tunisia (90)

15. Tanzania (92)

16. Cameroon (93)

17. Ivory Coast (102)

18. Mali (104)

19. Zambia (109)

20. Ghana (110)

21. Zimbabwe (111)

22. South Sudan (113)

23. Uganda (114)

24. Namibia (116)

25. Niger (119)

26. Eritrea (120)

27. Republic of the Congo (121)

28. Botswana (122)

29. Mauritania (123)

30. Senegal (125)

31. Burkina Faso (129)

32. Madagascar (130)

33. Gabon (133)

34. Liberia (138)

35. Sierra Leone (140)

36. Somalia (142)

37. Central African Republic (143)

38. Benin (144)

Headline

Middle East Crisis Dominates EU Foreign Ministers’ Brussels Meeting

Published

2 hours ago

June 23, 2025

Editor

The foreign ministers of EU member states on Monday were set to discuss the latest developments in the Middle East at their June meeting in Brussels.

The talks come amid growing international alarm after the United States joined Israel in launching strikes against Iranian nuclear facilities.

A key question for the ministers will be whether Europe can help steer the crisis back towards diplomacy.

EU foreign policy chief Kaja Kallas on Sunday urged all sides “to step back, return to the negotiating table and prevent further escalation,” in a statement posted on X.

Headline

US Says Strikes ‘Devastated’ Iran’s Nuclear Program

Published

18 hours ago

June 22, 2025

Editor

Unprecedented US strikes have wrecked Iran’s nuclear program, Defense Secretary Pete Hegseth said Sunday as Washington sought to assess what remained of the three targeted sites.

The surprise strikes threaten to deepen conflict in the Middle East after Israel launched a bombing campaign against Iran, with Tehran vowing to retaliate against US involvement.

But the United States said President Donald Trump wanted peace and urged Iran to end the conflict after strikes on a key underground uranium enrichment site at Fordo, along with nuclear facilities in Isfahan and Natanz.

“We devastated the Iranian nuclear program,” Hegseth told a Pentagon press briefing, adding that the operation “did not target Iranian troops or the Iranian people.”

Trump “seeks peace, and Iran should take that path”, Hegseth said. “This mission was not, and has not been, about regime change.”

Standing beside Hegseth, top US general Dan Caine said that “it would be way too early for me to comment on what may or may not still be there.”

“Initial battle damage assessments indicate that all three sites sustained extremely severe damage and destruction,” he told reporters.

– Protests in Tehran –

People gathered in the center of Tehran to protest against US and Israeli attacks, waving flags and chanting slogans, state TV showed.

Trump claimed total success for the operation in an address to the nation hours after the attack, and Vice President JD Vance followed up on Sunday morning.

“We know that we set the Iranian nuclear program back substantially last night, whether it’s years or beyond,” he told ABC.

“We’re not at war with Iran — we’re at war with Iran’s nuclear program,” he added. “The president took decisive action to destroy that program last night.”

In Tehran, AFP journalists said the roar of aircraft flying over the city was heard repeatedly for the first time since Israel’s initial attacks.

The UN’s International Atomic Energy Agency said it had not detected any increase in radiation levels at the nuclear sites and Tehran said Sunday there were no signs of contamination.

Iranian Foreign Minister Abbas Araghchi told reporters in Istanbul the United States and Israel had “crossed a very big red line,” asserting Iran would continue to defend itself “by all means necessary.”

Israeli Prime Minister Benjamin Netanyahu hailed the US strikes, saying Trump’s decision to “target Iran’s nuclear facilities with the awesome and righteous might of the United States will change history.”

The Israeli military was also checking the results of the US raid on the deeply buried nuclear facility in Fordo, with a spokesman saying it was “too soon” to know if Iran had removed enriched uranium from the site.

The main US strike group was seven B-2 Spirit bombers flying 18 hours from the US mainland to Iran with multiple aerial refuelings, Caine said.

– Global concern –

In response to the US attack, Iran’s armed forces said they targeted multiple sites in Israel including Ben Gurion airport, the country’s main international gateway near Tel Aviv.

Israeli rescuers said at least 23 people were wounded.

In Jerusalem, Claudio Hazan, a 62-year-old software engineer, said he hoped the US intervention would hasten an end to the Iran-Israel war.

“Israel by itself would not stop… and it would take longer,” he said.

Israel said it had launched fresh strikes on western Iran and in Qom, south of Tehran. Iran’s official IRNA news agency reported four Revolutionary Guard members were killed in strikes on a military base in the city’s north.

The Israeli military said it had “struck missile launchers ready to launch toward Israeli territory, soldiers in the Iranian Armed Forces, and swiftly neutralized the launchers that launched missiles toward Israeli territory.”

Iran’s Shargh newspaper reported that a “massive explosion was heard” Sunday in Bushehr province, home to Iran’s only nuclear power plant.

Iranian news agencies also reported strikes in Yazd province.

The United Arab Emirates, Qatar and Oman, which had been mediating Iran-US nuclear talks, criticized the US move and urged de-escalation.

The European Union called on all sides “to step back,” while stressing Iran must not be allowed to develop nuclear weapons.

The Iranian foreign minister said he would travel to Moscow for talks with Russian President Vladimir Putin on Monday.

Following his address, Trump warned Iran against retaliation. Iran and its proxies have previously attacked US military bases in Iraq and elsewhere in the region.

Iran’s Huthi allies in Yemen on Sunday repeated their threat to resume attacks in the Red Sea if Washington joined the war, saying they were ready to target US ships and warships.

The US president had stepped up his rhetoric against Iran since Israel first struck the country on June 13, repeating his insistence it could never have nuclear weapons.

Tehran denies seeking an atomic bomb. On Saturday, President Masoud Pezeshkian said Iran’s right to pursue a civilian nuclear program “cannot be taken away… by threats or war.”