SERAP writes Tinubu, fears $1.5bn World Bank loan to 36 states, $3bn Chinese loans to FG may have been diverted

Socio-Economic Rights and Accountability Project (SERAP) has called on 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 promptly and thoroughly investigate the spending of $1.5 billion World Bank loan obtained by the 36 states and Abuja for poverty reduction and social protection across the states.”

SERAP said, “Suspected perpetrators of corruption and mismanagement should face prosecution as appropriate, if there is sufficient admissible evidence, and any proceeds of corruption should be fully recovered.”

SERAP also urged him to “direct Mr Fagbemi and appropriate anti-corruption agencies to promptly investigate the alleged mismanagement of the Chinese loans of $3.121 billion obtained by the Federal Government.”