Socio-Economic Rights and Accountability Project (SERAP) has dragged President Muhammadu Buhari’s government to court for “secrecy in the spending of loans so far obtained, the unsustainable level of borrowing by the government and the 36 states, debt crisis, and the disproportionately negative impact of these retrogressive measures on poor Nigerians,” according to the lawsuit.
SERAP is seeking damages in the ECW/CCJ/APP/05/22 action filed last week before the ECOWAS Court of Justice in Abuja.
: “An order directing and compelling the Federal Government to issue an immediate moratorium on borrowing by itself, and the 36 states, in conformity with the country’s international human rights obligations.”
SERAP is also seeking “an order directing and compelling the Federal Government to publish details of spending of the loans obtained by governments since 1999 including the list of projects and locations of any such projects on which these loans have been spent.”
In the the suit filed by SERAP and behalf of concerned Nigerians, the organization contends that, “Persistent and unsustainable borrowing by the federal and state governments and the crippling debt burden undermine the rights of Nigerians to economic and social development, and are antithetical to the public interest.”
SERAP is arguing that, “The crippling debt burden is a human rights issue within the jurisdiction of the ECOWAS Court because when the entire country is burdened by unsustainable debts, there will be little money left to ensure access of poor and vulnerable Nigerians to legally enforceable socio-economic rights.”
SERAP is also arguing that, “There is lack of transparency and accountability in the spending of the loans so far obtained, and opacity around the terms and conditions in loan agreements, including repayment details for these loans. The details of the projects on which the loans are spent are shrouded in secrecy.”
SOURCE: www.Ghgossip.com
