A group Socio-Economic Rights and Accountability Project has asked the Abuja Federal High Court to order President Muhammadu Buhari to publish details of loans that have been obtained by the government since May 29, 2015.
Details which the court was asked to order Buhari to publish include the interest rate, the total amount of debts that have so far been incurred by his administration, and the projects on which the loans have been spent on.
Abubakar Malami Attorney General of the Federation and Minister of Justice,Zainab Ahmed Minister of Finance Budget and National Planning and Patience Oniha Director-General of the Debt Management Office were joined as respondents in the suit.
SERAP is asking the court to compel Buhari to tell Nigerians the names of countries and bodies that have given the loans, specific repayment conditions, and whether any public officers solicited and/or received bribes in the negotiations for any of the loans.
The group also asked the court to direct the President to tell Nigerians if he would instruct the Independent Corrupt Practices and Other Related Offences Commission and Economic and Financial Crimes Commission to monitor the spending of all loans obtained since May 2015.
SERAP in the originating summons argued that lack of transparency in the spending of loans would continue to have negative impacts on the fundamental interests of citizens