The Socio-Economic Rights and Accountability Project (SERAP) has urged the World Bank President, Ajay Banga, “to promptly, transparently and effectively conduct investigation into spending of loans and other facilities by the country’s 36 state governors and to suspend any loans and funding if there is relevant admissible evidence of mismanagement or diversion of public funds by any of the states.”
SERAP also urged the Bank to “suspend further applications for loans and any other funding to the 36 states until these states are able to satisfactorily explain details of spending of loans and other facilities obtained from the Bank and its partners.”
Many of the country’s 36 states are allegedly mismanaging public funds which may include loans obtained from the Bank and its partners, and allocations from the Federal Government, which may also include loans obtained from the Bank.
In the letter dated 25 November 2023 and signed by SERAP deputy director Kolawole…