JamzNG Latest News, Gist, Entertainment in Nigeria
The Socio-Economic Rights and Accountability Project (SERAP) has urged the Tinubu Ball President “to reject the recently approved World Bank loans and vice versa directed the Attorney General Federation and the Minister of Justice Mr Lateef Fagbemi, San, and Foren who were not in accordance with publis that did not be investigated with no investigation by non-investigated by non-corruption by non-corruption that is not in accordance with the Nogerbn Over N2. [MDAs].
Absorb said, “Anyone who is allegedly responsible must face the appropriate prosecution, if there is sufficient evidence that is acceptable, and lost public funds must be fully restored and sent to the Ministry of Finance.”
According to the absorption, “N233 billion that recovered must be used to fund deficits in the 2025 budget and to relieve the crisis of Nigerian debt that paralyzed.”
The World Bank last week approved a loan of $ 1.08 billion for Nigeria to ‘improve the quality of education, build household and community resilience, and increase nutrition for groups that are less served.’
In a letter dated April 5, 2025 and signed by the Deputy Director of Collawole Oluwadare, the organization said: “World Bank loans are not needed or for the public interest, especially given the debt burden that paralyzed in the country, and the amount lost from public funds lost from MDA that your government has failed to investigate or recover.”
According to absorption, “The federal government may not collect loans from the World Bank or other institutions and institutions up to N233 billion that are completely recovered, consistent with the 1999 Nigerian Constitution [as amended] and the country’s international obligations. “
The letter was read in part: “The absorption is very worried that the federal government and 36 Nigerian states and the federal capital region continue to face the debt crisis, and the debt cycle that is demons or in debt difficulties or with a high risk of debt pressure.
“According to the UN independent expert on foreign debt and human rights, Nigeria faces a relative debt service to tax revenue that exceeds 20 percent, with increasing social tensions related to poverty and inequality.
“The burdensome disclosure of the missing N233 billion was documented in the Audit Report 2021 issued on Wednesday November 13, 2024 by the Federation-General Auditor’s Office.
“The accusation shows a massive violation of public trust, the 1999 Nigerian Constitution (as amended), the State Anti -Corruption Law and international anti -corruption obligations.
“There is a legal interest in ensuring justice and accountability for this big charge.
“We will be grateful if the recommended steps are taken within 7 days of receipt and/or the publication of this letter. If we have not heard of news from you at that time, absorbing will consider appropriate legal actions to force your government to fulfill our requests for the public interest.
Also read: absorbing urges nass to drop bills looking for ‘prisons for nigerians who meet the requirements that fail to choose’
“According to the 2021 Annual Report Audit by the Federation Auditors, Nigeria Mass Electricity Trading PLC., (NBET) Abuja ‘paid more than N96 billion [N96,196,794,844.67] For services that are not done and goods that are not provided. ‘
“Nbet is also reported to have spent more than N111 billion [N111,601,369,196.22] in 2021 but failed to calculate money. Nbet failed to ‘restore income/debt’ in circulation ‘more than N2 billion [N2,896,304,647,500.30].
“This accusation does not include previous accusations sent to you that NBET pays the N100 billion to the company and the contractor for projects that are not executed.
“The Nigerian Security Printing and Mining Company PLC (NSPM), Abuja was also reported to have failed to send more than N10 billion [N10,393,793,419.34] tax collected. The auditors are concerned that non-criticism is a paragraph violation 235 of financial regulations.
“NSPM is also reported to have failed to calculate more than N14 billion [N14,136,472,333.16] Payment of contracts given in ‘violation of legal proceedings.’ NSPM ‘illegally takes custody of government vehicles worth more than N400 million [N413,343,623.00] and fail to calculate vehicles/money.
“The National Pension Commission, Abuja was also reported to have failed to calculate more than N4 billion [N4,429,550,386.58] The income generated internally to the consolidated income fund. Ministry of Federal Work [Housing Sector] paid more than n1 billion [N1,076,662,242.61] Without any documents.
“The Federal Road Safety Corps (FRSC) is also reported to have ‘scored 52,714 National SIMs [NDL] In 2020 ‘, more than N300 million [N316,284,000.00] but failed to calculate the money. Auditors are worried that the money might be lost.
“FRSC also failed to calculate more than N3 billion [N3,599,352,300.13] into money collected for driver licenses. The money was ‘transferred to partner commercial bank accounts.’ The auditors are worried that the money might have been bagged.
“FRSC also failed to send more than N465 million [N465,415,371.35] tax collected. The auditors are worried ‘Money might have been transferred.’ He wants ‘money to recover and be sent to a special CBN account.’
“This accusation can soon be investigated and suspected as a perpetrator named and humiliated. Taking these steps will advance Nigeria’s right to restitution, compensation and non-repetition and increase public confidence in the war against corruption.
“Investigating accusations and naming and embarrassing and demanding those suspected of being responsible for lost public funds and restoring funds will serve the public interest and end the impunity of the perpetrators.
“Absorption also notes that the consequences of corruption are felt by citizens every day. Corruption describes them to additional costs to pay for health, education and administrative services”.
Join the conversation
Supports Nigeria’s ripples, resistant Journalism Solutions
A balanced and fearful journalism that is driven by data comes with enormous financial costs.
As a media platform, we ask for leadership accountability and will not trade the right to suppress freedom and freedom of speech for a piece of cake.
If you like what we do, and ready to uphold journalism solutions, friendly Nigerian ripples cause.
Your support will help ensure that residents and institutions continue to have free access to credible and reliable information for community development.
Donation now
