The Socio-Economic Rights and Accountability Project (SERAP) has requested President Goodluck Jonathan to urgently provide information on his administration’s spending of N700bn borrowed between December 31, 2012 and April 30, 2013.
The group also demanded that the government introduces a moratorium on borrowing and threatened to take a legal action should the government fail to provide the sought information within 14 days.
In a letter signed by SERAP Executive Director, Adetokunbo Mumuni, which was released on Monday and sent to the Accountant–General of the Federation, Mr. Jonah Ogunniyi Otunla, the organisation hinged its move on Sections 1 (1); 4 (a); and 2(3)(d)(V) & (4) of the Freedom of Information (FOI) Act 2011.
“Whereas the government has borrowed over N6.54 trillion from national sources and its external borrowing is growing, there is no evidence on the ground to show that the huge sums of money have been put to good use to benefit millions of economically and socially vulnerable Nigerians.
“In fact, we fear the money could have been mismanaged, diverted or stolen. Despite this huge borrowing, the same period also witnessed decreased spending on basic social services such as roads, electricity, health, education, and thus explaining in part why the government has lagged behind in the achievement of the Millennium Development Goals.
“We are further concerned about the country’s growing debt problem because this will continue to weaken the capacity of this government to fulfill its human rights obligations and commitment, thus throwing millions of Nigerians deeper into poverty.
SERAP’s demands also include the amount spent from the N700bn borrowed between December 31, 2012 and April 30, 20132 and details of projects on which the spending were made.
The organisation said it was pushed to make the demand following a statement credited to the Governor of Central Bank of Nigeria (CBN) Mr. Lamido Sanusi that government increased its borrowing in securities by N700bn between December 31, 2012 and April 30, 2013, and that the government has spent more than N2 trillion in the last four months.
“SERAP is seriously concerned about this high level of spending by the government within this short period of time, especially given the fact that government borrowed almost the same amount between 2011 and 2012.
“Unless a moratorium on debt borrowing and periodic transparent audits of debt are introduced, the current unsustainable debt situation will continue to jeopardise the well-being of not only the present generation but also the future generation.”
According to the SERAP, the information being requested does not come within the purview of the types of information exempted from disclosure by the provisions of the FOI Act.
“The information requested for, apart from not being exempted from disclosure under the FOI Act, bothers on an issue of national interest, public concern, interest of human rights, social justice, good governance, transparency and accountability,” SERAP added
“The disclosure of the information requested will give SERAP and the general public a true picture and a clear understanding of how the spending of the sums of money borrowed has impacted on the lives of the ordinary, common, poor and indigent and other disadvantaged Nigerians.”
