SERAP drags Buhari to court over $25bn loans

 Nigerian President, Muhammadu Buhari has been taken to an Abuja Federal High Court to give full account of the $25 billion loans obtained from the Central Bank of Nigeria since 

The suit filed by the Socio-Economic Rights and Accountability Project (SERAP) also prayed the court to compel Buhari to explain the projects on which the loans have been spent on and repayments of all overdrafts to date.


”The group also seeks an order to compel the president to “explain and clarify whether the $25billion or N9.7trillion overdraft reportedly obtained from the CBN is within the five-percent limit of the actual revenue of the government for 2020, SERAP explained.

ALSO READ: Kagara students may be set free today, Gumi says

“The suit followed SERAP’s Freedom of Information request to President Buhari, stating 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.”


Agajahub publishers

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top