Francis Iwuchukwu 
The Socio-Economic Rights and Accountability Project (SERAP) has asked President Bola Tinubu to instruct the Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to promptly and thoroughly investigate the spending of $1.5 billion World Bank loan obtained by the 36 states and Abuja for poverty reduction and social protection across the states.
In a statement signed by SERAP’s Deputy Director, Kolawole Oluwadare said suspected perpetrators of corruption and mismanagement should face prosecution as appropriate, if there is sufficient admissible evidence, and any proceeds of corruption should be fully recovered.
The group equally urged President Tinubu to mandate the AGF and appropriate anti-corruption agencies to promptly investigate the alleged mismanagement of the Chinese loans of $3.121 billion obtained by the Federal Government (FG).
More so, the human rights group further tasked the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to jointly track and monitor the spending of the $1.5 billion World Bank loan to Nigeria’s 36 states and Abuja.
Referring to its open letter dated August 10, 2024, SERAP stated that, “Ensuring accountability for the spending of World Bank loan and Chinese loans would build trust in democratic institutions with the ultimate aim of strengthening the rule of law.
“Impunity for corruption in the management of World Bank loans and Chinese loans will continue as long as high-ranking public officials go largely unpunished for their alleged crimes.
“It is by pursuing these allegations and taking the evidence before the court that the truth will be revealed and justice best served.”
He said, “There are reports that the $1.5bn World Bank loan to the 36 states and Abuja and the $3bn Chinese loans obtained by the Federal Government may have been mismanaged or diverted, and in any case remain unaccounted for.”
The letter read in part: “Investigating and prosecuting allegations of corruption and mismanagement in the spending of World Bank loans and Chinese loans would be entirely consistent with the Nigerian Constitution and the country’s international anti-corruption obligations.
“We note that while a governor may enjoy immunity from arrest and prosecution, he does not enjoy immunity from investigation.
“Any criminal allegation against a sitting governor can and should be investigated pending the time the governor leaves office and loses immunity.”
