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SERAP sues Buhari over $25bn overdrafts taken from CBN
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Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit, asking the court “to compel President Muhammadu Buhari to disclose spending details of the overdrafts and loans obtained from the Central Bank of Nigeria (CBN) since May 29, 2015, including the projects on which the overdrafts have been spent, and repayments of all overdrafts to date.”
SERAP is also seeking an order to compel the president to “explain and clarify whether the $25bn (N9.7trn) overdraft reportedly obtained from the CBN is within the five-percent limit of the actual revenue of the government for 2020.”
The suit followed SERAP’s Freedom of Information (FoI) request to President Buhari, stating that: “Disclosing details of overdrafts and repayments would enable Nigerians to hold the government to account for its fiscal management and ensure that public funds are not mismanaged or diverted.”
SERAP sues Buhari over billion dollars overdrafts taken from CBN
“Disclosing details of overdrafts and repayments would enable Nigerians to hold the government to account. 4 min read
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit, asking the court “to compel President Muhammadu Buhari to disclose spending details of the overdrafts and loans obtained from the Central Bank of Nigeria (CBN) since May 29, 2015 including the projects on which the overdrafts have been spent, and repayments of all overdrafts to date.”
SERAP is also seeking an order to compel the president to “explain and clarify whether the $25bn (N9.7trn) overdraft reportedly obtained from the CBN is within the five-per cent limit of the actual revenue of the government for 2020.”