Socio-Economic Rights and Accountability Project has urged President Bola

Tinubu to investigate the $1.5 billion dollars World Bank loan obtained by the

36 states of the federation, and the Federal Capital Territory.

The group also urged Tinubu to probe the “alleged mismanagement of the

Chinese loans of $3.121billion obtained by the Federal Government.”

SERAP asked the President to “direct the Attorney-General of the Federation

and Minister of Justice, Lateef Fagbemi, and appropriate anti-corruption

Agencies to promptly and thoroughly investigate” how the loan was spent,

thereby reducing “poverty and social protection across the states.”

A statement signed by the group’s Deputy Director, Kolawole Oluwadare,

SERAP said, individuals or agencies suspected of “corruption and

mismanagement should face prosecution as appropriate, stressing that, if

there is sufficient admissible evidence, and any proceeds of corruption

should be fully recovered.”

The group told Tinubu that his administration has a legal responsibility to

“ensure accountability for the spending of the loans obtained from the World

Bank and China do not lack of transparency and accountability in the

management of World Bank loans and Chinese loans obtained by the states

and the Federal Government.