A group has urged the World Bank to ensure that the Federal Government of Nigeria imbibe transparency in its disbursement of $144.28m credit and grant meant to prevent, detect and respond to the threat posed by COVID-19 with a specific focus on state-level responses.
The Socio-Economic Rights and Accountability Project (SERAP), made this call in an open letter to the President of the World Bank, David Malpass.
Recall that the bank’s board of directors recently approved the said sum for Nigeria, publishing details on a dedicated website.
According to the bank, the $100 million credit with Project ID number: P173980, is due to be paid back over 30 years, with an additional five years grace period.
$100 million credit with Project ID number: P173980, is due to be paid back over 30 years, with an additional 5 years grace period.
In its letter, SERAP urged Malpass to put pressure on authorities and the 36 state governors to accept voluntary scrutiny by Nigerians and civil society regarding the spending of the funds and use of the resources, including on how they will spend the money to buy medical equipment, and improve access to clean water, sanitation and hygiene.”
In the letter dated Saturday, August 8, and signed by SERAP Deputy Director, Kolawole Oluwadare, the organization said:
“The World Bank has a responsibility to ensure that federal authorities and state governments are transparent and accountable to Nigerians in how they spend the approved credit and grant. The Bank should tread carefully in the disbursement of funds or distribution of resources to states if it is to reduce vulnerability to corruption and mismanagement.”
SERAP expressed “serious concerns that the money and resources may be stolen, diverted or mismanaged by state governors without effective transparency and accountability mechanisms, especially given increasing reports of allegations of corruption and mismanagement of COVID-19 funds by agencies of the Federal Government and state governments, and impunity of perpetrators.”
“Insisting on transparency and accountability would ensure repayment of the credit, and protect the project objectives and intended purposes for which the funds and resources are approved, disbursed and distributed,” SERAP said.
This follows SERAP urging of an Abuja court to compel President Muhammadu Buhari to account for all the loans the government has obtained since 2015 when he assumed office.
