Tag: IMF loan

‘Criminal diversion of $3.4bn IMF loan must be probed’ – Falana

Aminu Imam
Falana on probe

Renowned lawyer Femi Falana (SAN), has urged President Bola Tinubu “to direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, (SAN), and appropriate anti-corruption agencies to promptly probe the allegations that $3.4 billion loan obtained from the International Monetary Fund (IMF) is missing, diverted or unaccounted for”. Recall that last week, the International Monetary Fund (IMF) confirmed that Nigeria has fully repaid the $3.4 billion emergency COVID-19 loan it received in 2020 under the Rapid Financing Instrument, (RFI).  According to Falana, who is the Chair, Alliance…

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‘Tinubu surrendered Nigerias sovereignty to IMF, World Bank’ HURIWA

Aminu Imam
HURIWA on World Bank IMF

The Human Rights Writers Association of Nigeria, (HURIWA), has condemned President Bola Tinubus recent economic policies, saying they have undermined Nigerias sovereignty. HURIWA noted that the condemnation comes in the wake of Tinubus dramatic policy shift, which it said starkly contrasts with his previous stance against similar policies under former President Goodluck Jonathan. In a press statement, the association recalled that before ascending to the Presidency, Tinubu was a vocal critic of the International Monetary Fund (IMF) and World Banks economic prescriptions. According to the group, during Jonathans administration, Tinubu,…

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ICPC grills OAGF, CBN officials over missing $3.4bn IMF loan

Aminu Imam

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has questioned two officials of the Central Bank of Nigeria (CBN) and one from the Office of the Accountant-General of the Federation, (OAGF), over $3.4 billion loan allegedly granted to Nigeria by the International Monetary Fund, (IMF). Reports confirmed that the anti-graft agency has also invited another set of officials from the Federal Ministry of Finance for interrogation. Recall that the Socio-Economic Rights and Accountability Project (SERAP) has approached the court over what it alleged as the failure to probe…

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SERAP sues Tinubu over alleged missing $3.4bn IMF loan

Aminu Imam

Socio-Economic Rights and Accountability Project, (SERAP), has filed a lawsuit against President Bola Tinubu over the failure to probe the grim allegations that $3.4 billion loan obtained by Nigeria from the International Monetary Fund to finance the Budget and respond to Covid-19 is missing, diverted or unaccounted for. The allegations are contained in the recently published 2020 Nigerias annual audited report by the Auditor-General of the Federation. In the suit, filed last Friday at the Federal High Court, Abuja, SERAP is asking the court to direct and compel President Tinubu…

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