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SERAP drags Nigerian government to ECOWAS Court over undisclosed loans spending

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The Socio-Economic Rights and Accountability Project has filed a lawsuit against the government of President Muhammadu Buhari before an ECOWAS Court over “secrecy in the spending of loans so far obtained, the unsustainable level of borrowing by the government and the 36 states, and the crippling debt burden”.

Last week, SERAP lawyers, Kolawole Oluwadare and Opeyemi Owolabi filed a suit before ECOWAS Court of Justice in Abuja, in which the organisation sought, “An order directing and compelling the Federal Government to issue an immediate moratorium on borrowing by itself, and the 36 states, in conformity with the country’s international human rights obligations.”

SERAP is also seeking, “An order directing and compelling the Federal Government to publish details of spending of the loans obtained by governments since 1999 including the list of projects and locations of any such projects on which these loans have been spent.”

The organisation maintained that, “Persistent and unsustainable borrowing by the federal and state governments and the crippling debt burden undermine the rights of Nigerians to economic and social development, and are antithetical to the public interest.

“There is lack of transparency and accountability in the spending of the loans so far obtained, and opacity around the terms and conditions in loan agreements, including repayment details for these loans. The details of the projects on which the loans are spent are shrouded in secrecy.

“Without a moratorium on borrowing, the Federal Government and many of the 36 states may be caught in a process driven mostly by creditors’ needs. 

“This will result in an exorbitant social cost for the marginalised and vulnerable sectors of the population.

“The Federal Government and many of the 36 states would seem to be in debt distress or at high risk of debt distress.

“The Senate and House of Representatives recently approved the loans of $5,803,364,553.50 and a grant component of $10million under the 2018-2020 External Borrowing (Rolling) Plan of the Federal Government.

“This followed previous approvals by the National Assembly of $16.2 (16,230,077,718) billion loan; €1 (1,020,000,000) million and a grant component of $125 million loan; $36.8 billion, €910 million loans, and a grant component of $10 million; $8.3 billion and €490 million loans; $6.1 billion, $1.5 billion and 995 million loans; and $4(4,054,476,863), €710 million and grant component of $125million.

“Several of the 36 states are also facing a debt crisis, and vicious debt cycles. According to the Debt Management Office, the foreign debt stock of the Federal Government, 36 state governments and the Federal Capital Territory presently stands at $37.9billion.

“The loans from China alone amount to $3.59billion. According to the UN Independent Expert on foreign debt and human rights, Nigeria faces debt service relative to tax revenues that exceed 20 per cent, with escalating social tensions linked to poverty and inequality.

“According to the World Bank’s IDA FY21 Report, with debt exposure of $11.7billion US Dollars, Nigeria ranked fifth among the top 10 countries with highest debt risk exposure. The top four countries are India with $22billion, Bangladesh ($18.1billion), Pakistan ($16.4billion), and Vietnam ($14.1billion).”

Meanwhile, no date has been fixed for the hearing of the suit.

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2023: Buhari may meet Osinbajo, Tinubu, Amaechi, others

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President Muhammadu Buhari would this week meet with all the preidential aspirants of the ruling All Progressives Congress (APC).

The meeting was called with a view to reducing the number of presidential hopefuls and also ensuring that all of them pledge to accept the outcome of the primary as was done during the APC presidential primary in 2014.

“The President will meet with the aspirants a few days to the primary with a view to ensuring that there is unity and harmony. He will also meet with the governors separately. The date is not fixed yet, but it should be this week if INEC doesn’t extend the deadline for the primary as we are all hoping,” said an APC chieftain who wished to remain anonymous.

“The President has a candidate. How to present the idea to the likes of Tinubu will be the challenge,” he added.

Buhari’s most senior spokesman, Mr Femi Adesina, had said last week that the President indeed had a preferred candidate.

He stated, “In a previous interview when the President was asked whether he had a favourite candidate, he answered yes; but he will not mention him because mischief may happen to that person.

“That shows you that the President himself is interested in the process and he has a preferred candidate; but whether he will impose his candidate is what you cannot determine at the moment.”

When contacted on the telephone, the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said he was not aware of any meeting the President would be having with the aspirants.

“I am not aware of any meeting as of now,” he said.

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Gunmen behead abducted Anambra lawmaker from Governor Soludo’s constituency, hang head in motor park

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Gunmen who abducted a member of the Anambra State House of Assembly, Okey Okoye, have beheaded him.

After beheading him, his head was reportedly displayed at a motor park in Nnobi, Idemili South Local Government Area of the state.

The incident, which happened on Saturday, created panic in the community, which had been witnessing a series of violent killings since last year.

Sources added that his body was not there and indications were that the killers removed the body.

“The Anambra lawmaker representing Soludo’s constituency, Okechukwu Okoye who was earlier kidnapped, has been beheaded by gunmen; the late lawmaker’s head was mounted at Chisco Park in Amichi community,” a military source said on Saturday.

Gunmen had last Sunday abducted the lawmaker who was representing Aguata II state constituency in Aguata alongside Cyril Chiegboka, his campaign director.

Governor Charles Soludo had said during the week that efforts were ongoing to rescue the Anambra lawmaker from his abductors.

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MC Oluomo allegedly demands N100million to support re-election of Oshodi Rep member

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Chairman of the Lagos State Parks Management Committee, Musiliu Akinsanya, popularly called MC Oluomo, is allegedly demanding N100 million to support the re-election of the member representing Oshodi Federal Constituency 1 in the House of Representatives, Hon. Bashiru Dawodu.

Dawodu, a medical doctor, rode on the back of MC Oluomo to win the election in 2019 after series of attempts in the past.

Dawodu presenting his Certificate of Return to MC Oluomo

Both, however, fell apart few months after Dawodu was elected due to irreconcilable differences .

MC Oluomo is said to be angry with Dawodu for not honouring agreements he (Dawodu) had with him prior to his victory in 2019.

MC Oluomo, who is seen as de-facto leader of the All Progressives Congress (APC) in Oshodi was said to have vowed to work against Dawodu’s re-election in 2023.

He is believed to be working for the emergence of a former Chairman of Oshodi/Isolo Local Government, Afeez Ipesa Balogun to emerge as the APC’s candidate for the House of Representatives election in the constituency.

However, party leaders in the local government including the Chairman of the council, Kehinde Oloyede Almoof had appealed to MC Oluomo to tone down his opposition to Dawodu and support his re-election.

It was gathered that MC Oluomo did not turn down the fence-mending approach because he said he did the same with Oloyede who was his former arch-enemy.

It was further gathered that MC Oluomo demanded N100 million from Dawodu before he gets his support.

The money according to MC Oluomo is to settle his aides and loyalists, who supported Dawodu in 2019 but were abandoned by the Rep member.

According to sources at the various fence-mending meeting, appeals to MC Oluomo to reduce the amount were rebuffed.

Another dimension has, however, been added to the involvement of Oloyede in the matter.

The sources revealed that the council chairman, Oloyede is supporting Dawood because of his own interest.

Oloyede has been eyeing the Rep seat before his election as the council chairman.

Oloyede’s calculation according to the sources is that should Dawood gets the second term, it would be easy for him (Oloyede) to contest for the seat in 2027.

One of the sources who does not want his name in print because of backlash said : “Oloyede is supporting Dawood because of his own personal interest. He believes supporting Dawood may work for him in 2027.

Continuing, the source noted that Oloyede would rather support Dawodu over any other candidates because others eyeing the seat are first timers, who may want to seek for re-election in 2027.

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