SERAP may sue World Bank over Nigeria’s Eight hundred million dollars loan request
Written by Olarotimi Oshin on May 14, 2023
Socio-Economic Rights and Accountability Project (SERAP) is asking the World Bank to suspend the disbursement of the Eight hundred million dollars loan to the Federal Government of Nigeria.
The organization also urged the institution to request the incoming administration to provide satisfactory explanations for the loan.
The Buhari administration had in April announced its plan to spend the Eight hundred million dollars loan as part of its subsidy palliatives measures.
Last week, President Muhammadu Buhari requested the approval of the Senate, three weeks before the end of his tenure.
A May 13 letter by SERAP deputy director Kolawole Oluwadare advised the World Bank to comply with its own Articles of Agreement in disbursing any loans.