THE Socio-Economic Rights and Accountability Project, SERAP, sues the president over overdraft and loans.

THE Socio-Economic Rights and Accountability Project, SERAP, sues the president over overdraft and loans meant for projects which were never completed. 

SERAP sues president Buhari. 


SERAP urged the Federal High Court, Abuja to query the President Muhammadu Buhari on the spending details of the overdrafts and loans obtained since May 29, 2015. 


The suit was filed last week, by SERAP through its lawyers, Kolawole Oluwadare and Ms Adelanke Aremo. The heading read, 

“An order directing and compelling President Buhari to disclose details of overdrafts taken from the CBN by successive governments between 1999 and 2015.”

 The suit read, 

“Secrecy and the lack of public scrutiny of the details of CBN overdrafts and repayments are antithetical to the public interest, the common good, the country’s international legal obligations, and a fundamental breach of constitutional oath of office.”

“Ensuring transparency and accountability in the spending of the 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.

“By the combined reading of the Constitution of Nigeria 1999 (as amended), the Freedom of Information Act, the UN Convention against Corruption, and the African Charter on Human and Peoples’ Rights, there are transparency obligations imposed on the government to disclose information to the public concerning details of CBN overdrafts, loans and repayments to date.”


However, presently the date for hearing the suit has not been fixed.

Before the suit SERAP had written a request to President Buhari, seeking that:

“Disclosing details of overdrafts and repayments would enable Nigerians to hold the government to account for its fiscal management and ensure that public funds are not mismanaged or diverted.”

The request was released in SERAP's Freedom of Information, FoI. 

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