By Akubulu Ngozi
The Socio-Economic Rights and Accountability Project, SERAP has moved World Bank to suspend the allocation of loans to the 36 States in Nigeria over an alleged mismanagement of public funds by politicians.
This was enclosed in a statement signed by the Deputy Director of SERAP, Kolawole Oluwadare, recently.
According to the statement, the Body wants the President of World Bank, Ajay Banga to conduct investigations on previous loans issued to the States, including, the suspension of any loan until reports on the application of the previous loans are provided.
The statement reads, ” We want the President of the World Bank, Ajay Banga to promptly, transparently and effectively investigate the spending of loans and other facilities by the country’s 36 State Governors and to suspend any loans and funding if there is relevant admissible evidence of mismanagement or diversion of public funds by any of the States.
“And to suspend further applications for loans and any other funding to the 36 States until these States can satisfactorily explain details of spending of loans and other facilities obtained from the Bank and its partners.
“The World Bank and its partners cannot continue to give loans and other funding to these States where there are credible allegations of mismanagement or diversion of public funds.”
More so, SERAP claimed that, the accounts of the 36 States are not opened to the public, adding that, the Governors have constantly held to the freedom of information act to withhold information on on public fund.
Sequel to this, the Body called for a thorough investigation on the application of all loans issued by the Bank, as well as the prosecution of defaulters.
