SERAP Urges Tinubu To Unveil Loan Agreements Since 1999.

Socio-Economic Rights and Accountability Project is urging President Bola Tinubu to disclose the agreements and spending details of loans obtained by the administrations of Nigeria’s past presidents since May 1999.

SERAP urged Tinubu “to direct appropriate ministries, departments and agencies to provide the organization with copies of the loan agreements obtained by the governments of former Presidents Olusegun Obasanjo, Umaru Yar’Adua, Goodluck Jonathan and Muhammadu Buhari.

A statement issued by the organization’s Deputy Director, Kolawole Oluwadare, demands the spending details of any such loans as well as the interests and other payments so far made on the loans, especially, Nigeria’s four past democratically-elected presidents including Obasanjo, who ruled for eight years from 1999 to 2007.

SERAP said, the details provided may help to explain why “despite several billions of dollars in loans obtained by successive governments, and also investigate why millions of Nigerians continue to face extreme poverty and lack access to basic public goods and services.

However, SERAP has also advised President Tinubu to establish an “independent audit on the spending of the loans obtained by the governments of the former presidents,” and make its results available to the public, stressing that, Democracy requires accountability and accountability requires transparency to justify their performances in governance.