”Enough of borrowing, seek help” Lawmaker tells Buhari
The Socio-Economic Rights and Accountability Project, (SERAP) has stated that it has filed a lawsuit, requesting the court to compel the federal government to disclose details of a $25 billion (N9.7trn) overdraft reportedly obtained from the Central Bank of Nigeria (CBN).
This was contained in a statement issued yesterday by SERAPs Deputy Director, Kolawole Oluwadare.
The Deputy Director said the group also asked the court to ask the government to disclose spending details of the overdrafts and loans obtained from the apex bank since May 29, 2015.
Oluwadare, who said the suit followed SERAPs Freedom of Information (FoI) request to President Buhari to disclose the overdraft and repayment plan details, added that ensuring transparency and accountability in the spending of CBN overdrafts and loans would promote prudence in debt management, reduce any risks of corruption and mismanagement, and help the government to avoid the pitfalls of excessive debt.
SERAP said Abubakar Malami, the attorney general of the federation and minister of justice, Zainab Ahmed, minister of finance, budget and national planning, and Godwin Emefiele, CBN governor, are joined in the suit.
The anti-corruption group said the court actions are brought in the public interest and in line with the Nigerian Constitution, the Freedom of Information Act, the Fiscal Responsibility Act, the Central Bank Act; the Debt Management Office Act and the countrys international legal obligations.
No date has been fixed for the hearing of the suit.
In a related development, a House of Representatives member representing Obokun/Oriade Federal Constituency, Oluwole Oke, has urged President Muhammadu Buhari to desist from borrowing money for the country frequently.
The Reps member stated this at a special Convocation ceremony of Joseph Ayo Babalola University, Ikeji Arakeji, Osun State.
Oke, who is the Chairman, House Committee on Public Accounts, advised President Buhari to improve on accountability and transparency amid Nigerias increasing debt profile rather than embarking on a borrowing spree.
The federal lawmaker advised the President to seek the help of financial advisors who will help him pull the country out of its economic doldrums instead of borrowing.
He maintained that the lack of economic advisors was the reason for policy somersault in the country.
