Home / E GIST / SERAP sues Buhari govt over move to borrow N895bn from Nigerians’ accounts

SERAP sues Buhari govt over move to borrow N895bn from Nigerians’ accounts

The Socio-Financial Rights and Accountability Mission (SERAP) has filed a lawsuit asking the Federal Excessive Courtroom in Abuja to cease President Muhammadu Buhari and the Federal Authorities from borrowing an estimated N895bn of Nigerians’ cash.

SERAP stated the federal government was focusing on unclaimed dividends and balances in dormant accounts, “underneath the guise of the patently illegal, unconstitutional and discriminatory laws often called the Finance Act, 2020″.

In go well with quantity FHC/ABJ/CS/31/2021 filed on Friday, SERAP is in search of an order to restrain the defendants from borrowing and accumulating Nigerians’ cash and transferring the identical into the ‘Unclaimed Funds Belief Fund’.

The group stated regardless of Nigeria’s dwindling oil income, public debt and widespread poverty, the President, Vice President, Governors, their Deputies and members of the Nationwide Meeting have refused to chop their emoluments, allowances and safety votes.

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The go well with filed by its Kolawole Oluwadare and Adelanke Aremo decried that tens of millions of Nigerians proceed to bear the brunt of mismanagement and corruption.

Joined as defendants are Abubakar Malami, Legal professional Basic of the Federation and Minister of Justice; Senate President, Ahmad Lawan; Speaker of Home of Representatives, Femi Gbajabiamila; and Minister of Finance, Zainab Ahmed.

SERAP is arguing that: for there to be a borrower, there should be a lender; that the intention to enter into such a borrower-lender relationship should be recognized to each events.

The go well with insists that every other association that enables a borrower to entry funds from a lender with out the data and specific consent of the lender will quantity to stealing.

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The group stated the federal authorities has repeatedly failed to make sure accountability within the spending of public wealth and assets.

SEEAP listed recovered stolen public funds, the loans to date obtained, estimated to be $31.98bn, and decried the widespread corruption in ministries, departments and businesses (MDAs).

“By the mixed studying of part 44(1) of the Nigerian Structure 1999 (as amended) and Article 14 of the African Constitution on Human and Peoples’ Rights, the Federal Authorities has completely no proper to borrow Nigerians’ cash within the type of their unclaimed dividends and funds in dormant accounts with out their data and specific consent”, the go well with learn.

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