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SERAP sues Tinubu ‘over failure to probe missing $3.4bn IMF loan’

Published

2 months ago

March 3, 2024

SERAP sues Tinubu ‘over failure to probe missing $3.4bn IMF loan’

Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Bola Tinubu over “the failure to probe the grim allegations that the $3.4 billion loan obtained by Nigeria from the International Monetary Fund (IMF) to finance the budget and respond to COVID-19 is missing, diverted or unaccounted for.”

The allegations are contained in the recently published 2020 Nigeria’s annual audited report by the Auditor-General of the Federation.

In the suit number FHC/ABJ/CS/269/2024 filed last Friday at the Federal High Court, Abuja, SERAP is asking the court “to direct and compel President Tinubu to probe the allegations that $3.4 billion loan obtained by Nigeria from the IMF to finance the budget and respond to COVID-19 is missing, diverted or unaccounted for.”

SERAP is also seeking: “an order of mandamus to direct and compel President Tinubu to ensure the effective prosecution of anyone suspected to be responsible for the alleged mismanagement and diversion of the $3.4 billion IMF loan obtained by Nigeria to finance the budget and respond to the COVID- 19 pandemic.”

SERAP is also seeking: “an order of mandamus to direct and compel President Tinubu to ensure the full recovery of the missing $3.4 billion IMF loan obtained by Nigeria to finance the budget and respond to the COVID-19 pandemic.”

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In the suit, SERAP is arguing that: “Investigating these grave allegations, bringing suspected perpetrators to justice and recovering any missing IMF loan would contribute to addressing the country’s economic crisis and debt burden.”

SERAP is also arguing that “The findings by the Auditor-General suggest a grave violation of the public trust, the provisions of the Nigerian Constitution 1999 [as amended], national anticorruption laws, and the country’s obligations under the UN Convention against Corruption.”

According to SERAP, “Servicing IMF loan that is allegedly missing, diverted or unaccounted for is double jeopardy for Nigerians—they can neither see nor benefit from the projects for which the loan was approved; yet, they are made to pay back both the loan and accrued interests.”

SERAP is arguing that, “Unless the President is directed and compelled to get to the bottom of these damning revelations, suspected perpetrators would continue to enjoy impunity for their crimes and enjoy the fruits of their crimes.”

The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Andrew Nwankwo, read in part: “There is a legitimate public interest in ensuring justice and accountability for these serious allegations. Granting the reliefs sought would end the impunity of perpetrators and ensure justice for victims of corruption.”

“Granting the reliefs sought would facilitate the effective implementation of the recommendations by the Auditor-General in the 2020 annual report that the missing $3.4 billion IMF loan be fully recovered and remitted to the public treasury and those responsible be ‘sanctioned and handed over to anticorruption agencies’.”

“The allegations of corruption in the spending of IMF loan documented by the Auditor-General undermine economic development of the country, trap the majority of Nigerians in poverty and deprive them of opportunities.”

“According to the 2020 annual audited report by the Auditor-General of the Federation published last week, the US$3.4 billion emergency financial assistance obtained from the International Monetary Fund (IMF) to finance the budget and respond to the COVID-19 pandemic is missing, diverted or unaccounted for.”

“According to the Auditor-General, no information or document was provided to justify the movement and spending of the Fund.”

“The Auditor-General has recommended that the money should be fully recovered and remitted to the public treasury and for the evidence of remittance to be forwarded to the Public Accounts Committee of the National Assembly.”

“The Auditor-General has also recommended that anyone suspected to be involved should be ‘sanctioned and handed over to the EFCC and ICPC for investigation and prosecution, as provided for in paragraph 3112 of the Financial Regulations’.”

“According to SERAP’s information, Nigeria has signed an agreement to spread the repayment of the IMF loan/interests from 2023 to 2027. The first instalment, due in 2023, is worth $497.17 million. The second instalment, due in 2024, will be worth $1.76 billion. The third instalment, due in 2025, will be worth $865.27 million.”

“The final two instalments, due in 2026 and 2027, will each be worth $33.99 million. These instalments will only be interest payments.”

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“Impunity for corruption in the management of loans obtained by Nigeria will continue as long as high-ranking public officials go largely unpunished for their alleged crimes.”

“The consequences of corruption are felt by citizens on a daily basis. Corruption exposes them to additional costs to pay for health, education and administrative services.”

“The Nigerian government has a sacred duty to ensure that the country’s loans including those obtained from the IMF are transparently and accountably used solely for the purposes for which the loans are obtained, and for the effective development of public goods and services as well as the general public interests.”

“Section 13 of the Nigerian Constitution 1999 [as amended] imposes clear responsibility on the Nigerian government to conform to, observe and apply the provisions of Chapter 2 of the constitution. Section 15(5) imposes the obligations on the government to ‘abolish all corrupt practices and abuse of power’ in the country.”

“Under Section 16(1) of the Constitution, the Nigerian government has a responsibility to ‘secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice and equality of status and opportunity.’”

“Section 16(2) further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.’”

“Similarly, articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the Nigerian government to ensure proper management of public affairs and public funds including loans obtained by the country, and to promote sound and transparent administration of public affairs.”

“The UN Convention against Corruption and the African Union Convention on Preventing and Combating Corruption to which Nigeria is a state party obligate the Nigerian government to effectively prevent and investigate allegations of corruption and mismanagement of public funds including loans obtained by the country.”

“Specifically, article 26 of the UN convention requires the Nigerian government to ensure ‘effective, proportionate and dissuasive sanctions’ including criminal and non-criminal sanctions, in cases of grand corruption.”

“Article 26 complements the more general requirement of article 30, paragraph 1, that sanctions must take into account the gravity of the corruption allegations.”

Joined in the suit as Respondent is Mr Lateef Fagbemi, SAN, the Attorney General of the Federation and Minister of Justice.

No date has been fixed for the hearing of the suit.

SERAP sues Tinubu ‘over failure to probe missing $3.4bn IMF loan’

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Breaking: Court stops Amaewhule-led 27 Rivers Assembly members from sitting

Published

5 hours ago

May 10, 2024

Trends Admin

Martins Amaewhule

Breaking: Court stops Amaewhule-led 27 Rivers Assembly members from sitting

The state High Court sitting in Port Harcourt, Rivers state, has barred the 27 lawmakers led by speaker, Martins Amaewhule from further sitting as members of the state House of Assembly.

The suit listed 25 lawmakers as 1st to 25th defendants and the governor of Rivers State, the Attorney-General, and the Chief Judge of the state as 26th to 28th defendants.

Ruling on a motion ex-parte, a copy of which was dated May 10 and obtained in Port Harcourt, the court also stopped the governor, the attorney-general, and the Chief Judge from interacting with the affected lawmakers.

The order specifically asked the lawmakers to stop parading themselves as members of the House of Assembly or conducting any legislative business as members of the House.

The court also ordered them to stop sitting at the auditorium of the House of Assembly quarters located along Aba Road or any other place whatsoever to conduct business as members of the House of Assembly.

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The court said: “An order of interim injunction is granted restraining the 1st to 25th defendants from parading and holding out themselves as members of the Rivers State House of Assembly and or meeting sitting at the auditorium of the House of Assembly quarters located at off Aba Road, Port Harcourt or any other place whatsoever to purport to carry out the legislative business of the Rivers State House of Assembly their legislative seats having been declared vacant pending the hearing and determination of the motion on notice.

“Another interim injunction is hereby made restraining the 26th to 28th defendants from dealing with, interfacing, accepting any resolution, bills and or however interacting with the 1st to 25th defendants in the purported capacities as members of the Rivers State House of Assembly their legislative seats having been declared vacant with effect from 13th December 2023 pending the hearing and determination of motion on notice.”

The court further directed that the order, the motion on notice, and other processes on the 1st to 25th defendants be within seven days by substituted means.

The court adjourned to the 29th of May for the motion on notice.

The lawmakers affected by the order are Martin Amaewhule, Dumle Maol, Major Jack, Franklin Nwabochi, Christopher Ofiks, Azeru Okpara, Enemi George, Granville Wellington, Ngbar Bernard, John Iderema, Queen Uwuma Williams, Loolo Opuende, Abbey Peter, Igwe Aforji, Justina Emeji, Ignatius Onwuka, Chimzie Nwankwo, Lemchi Nyeche, Barile Nwakoh, Emilia Amadi, Nkemjika Ezekwe, David Okobiriari, Nwankwo Sylvanus, Gerald Oforji and Wami Solomon.

Breaking: Court stops Amaewhule-led 27 Rivers Assembly members from sitting

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JUST IN: Police take over Rivers House of Assembly quarters

Published

6 hours ago

May 10, 2024

Trends Admin

JUST IN: Police take over Rivers House of Assembly quarters

Some armed policemen have taken over all the two entrances to the Rivers State House of Assembly quarters located along the Aba Road, Port Harcourt, the state capital.

The first and second gates to the lawmakers’ estate were reportedly safeguarded by about 30 police with many patrol vans used to block the entrances.

The development came shortly after the Martins Amaewhule-led House of Assembly claimed that the state governor was planning to demolish the quarters following his recent surprise visit to the facility.

But the Governor, Siminalayi Fubara, had explained that his visit to the estate on Thursday was harmless.

The governor said, “Is the Assembly quarters not part of my property? Is there anything wrong in going to check how things are going on there?

“You are aware of the developments. We have a new speaker, and I went there to see for myself how things are. There might be a few things I might want to do there for the good of our people.”

It was learnt that following the alarm raised by Amaewhule, the anti-Fubara lawmakers including some chieftains of the All Progressives Congress (APC) kept vigil around the estate till daybreak.

Armed policemen were seen barricading the gates on Friday to secure the facility.

Meanwhile, the Sim Media Volunteers (SMV) has called on the Inspector-General of Police (IGP) to monitor the activities of policemen in the state and ensure they observed the rules of engagement.

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The convener of the group, Frank Kilsi, decried the arrest and intimidation of the governor’s supporters by the police saying the development could lead to anarchy.

Kilsi, who spoke in Port Harcourt, on Friday, said, “We call on the Inspector-General of Police to rein in his men and exercise restrain by stopping the unnecessary attack or wanton arrest on any of the governor’s supporters, as further harassment could lead to anarchy and breakdown of law and order that may not do our state any good.”

Kilsi appreciated the overwhelming support of Rivers people for Fubara and their decision to stand firm in defence of democracy despite challenges.

He said, “We, the youths of the state, under the aegis of SIM Media Volunteers, do hereby emphasize the need for peace, justice and development in Rivers State.

“We implore all relevant stakeholders such as the citizens, political leaders, traditional institutions, and law enforcement agencies, to ensure that the rights and freedom of the people are upheld and protected at all times.

“To this end, we would like to acknowledge and applaud the great youths of Rivers State for being peaceful and law-abiding even in the face of provocation”.

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Kilsi applauded the leadership of Fubara, commending his efforts to improve the state’s Internally Generated Revenue (IGR) from N12bn to N27bn within a year of his administration.

He said this had singled him out amongst his contemporaries as he highlighted other developmental successes in human capital development, quality Infrastructure delivery, provision of the functional healthcare system, revamping of the educational sector, job creation, security and welfare of citizens.

Kilsi backed the factional Speaker, Victor Oko-Jumbo, and Leader, Sokari Goodboy describing their emergence as a welcome development in the journey to liberate Rivers from the bondage.

He said, “Indeed, true redemption has begun in Rivers State and we shall stand firm as youths of our dear state to support the new leadership of the House and the indefatigable governor of Rivers State.

“We are indeed gladdened by the news of our Leader and Governor of Rivers State rolling out drums to celebrate his one year in office beginning with the commissioning of projects on Tuesday, May 14, 2024.

JUST IN: Police take over Rivers House of Assembly quarters

Source: The Nation

News

BREAKING: Tinubu confers GCON national honour on Awujale

Published

7 hours ago

May 10, 2024

Trends Admin

Awujale and paramount ruler of Ijebuland, Oba Sikiru Adetona

BREAKING: Tinubu confers GCON national honour on Awujale

President Bola Tinubu has conferred the second highest national honour of Grand Commander of Order of Nigeria (GCON) on the Awujale and paramount ruler of Ijebuland, Oba Sikiru Adetona, for his immeasurable and invaluable contributions to national development.

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The president was represented by his Vice, Alhaji Kashim Shettima on Friday at the Olabisi Onabanjo University, Ago Iwoye, for a book presentation on “Reinventing Governance in Nigeria”, as part of activities marking his 64th coronation as a Paramount ruler and 90th birthday.

The President described Awujale as an extraordinary royal father and hero of Nigeria’s democracy who is adored all over the country for his sincerity of purpose and courage in the face of any adversity threatening national development.

The ceremony also featured the inauguration of Oba Sikiru Adetona School of Governance, Olabisi Onabanjo University, Ago-Iwoye, Ogun State.