SERAP urges President Tinubu to investigate misuse of $1.5bn World Bank and $3.121bn Chinese loans for poverty reduction.

Socio-Economic Rights and Accountability Project (SERAP) urges President Bola Tinubu to investigate the spending of a $1.5bn World Bank loan meant for poverty reduction and social protection across Nigerian states, as well as the mismanagement of a $3.121bn Chinese loan obtained by the Nigerian government. SERAP calls for suspected perpetrators to face prosecution and for corrupt proceeds to be recovered. The organization believes accountability for the spending of these loans would build trust in democratic institutions and strengthen the rule of law.

August 11, 2024
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