NGO drags Tinubu to court over $3.4 billion missing loan

President Bola Ahmed Tinubu has been sued over an alleged missing $3.4 billion loan by the Socio-Economic Rights and Accountability Project (SERAP) a renowned non-governmental organisation (NGO).

On Sunday, March 3, SERAP said President Tinubu, who came into office in May 2023, did not probe the accusations surrounding the loan obtained by Nigeria from the agency of the United Nations.

The organization claimed the fund which was supposed to finance the country’s budget and respond to the COVID’19 outbreak is either ” missing, diverted or unaccounted for”.

In a statement signed by the deputy director of the NGO, Kolawole Oluwadare, made it known that a suit had been filed at the Federal High Court, Abuja, on Friday, March 1.

SERAP is arguing in the suit that: Investigating these grave allegations, bringing suspected perpetrators to justice, and recovering any missing IMF loan would contribute to addressing the country’s economic crisis and debt burden.”

It added: “Unless the President is directed and compelled to get to the bottom of these revelations, suspected perpetrators would continue to enjoy impunity for their crimes and enjoy the fruits of their crimes.”

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