SERAP urges Tinubu to probe ‘ missing’ $ 3.4 billion IMF loan

SOCIO- ECONOMIC Rights and Accountability Project ( SERAP) has urged President Bola Tinubu to direct the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi, SAN, and appropriate anti- corruption agencies to probe allegations that $ 3.4 billion loan obtained from the International Monetary Fund ( IMF) is missing, diverted or unaccounted for.

SERAP also urged the

President to ensure that anyone suspected to be responsible should face prosecution as appropriate, if there is sufficient admissible evidence, and any missing IMF loan should be fully recovered and returned to the public treasury.

Recall that the 2020 yearly audited report, published last week by the AuditorGeneral of the Federation, documents damning revelations, including that there was no document to show the movement and spending of the IMF loan.

In a letter at the weekend, signed by SERAP Deputy Director, Kolawole Oluwadare, the organisation said there was a legitimate public interest in ensuring justice and accountability for these serious allegations. Taking these important measures, he said, would end the impunity of perpetrators.

SERAP said servicing IMF loans allegedly missing, diverted or unaccounted for is double jeopardy for

Nigerians.

According to the body, failure to investigate these grave allegations, bring suspected perpetrators to justice and recover any missing IMF loan would have serious resource allocation and exacerbate the country’s debt burden.

It stated that the AuditorGeneral had recommended that the money be fully recovered and remitted to the public treasury and those suspected to be involved ‘ sanctioned and handed over to anticorruption agencies’.