The Federal High Court in Abuja has ruled that the Nigerian government must provide an account of how the $460 million Chinese loan, intended for the failed Abuja Closed-Circuit Television (CCTV) project, was spent. The court also ordered the government to disclose the total amount paid to Chinese and local companies involved in the project and specific details of the companies, and the project’s implementation status.
The judgment resulted from a Freedom of Information suit filed by the Socio-Economic Rights and Accountability Project (SERAP). The court’s decision is a victory for transparency, accountability, and the fight against corruption.
SERAP has called on President Muhammadu Buhari to comply with the court’s orders and publish details of all Chinese loans and other loans obtained by the government since May 2015. Nigeria’s borrowing from China has significantly increased recently, raising concerns about debt sustainability and repayment obligations.