The Civic Group, Socio-Economic Rights and Accountability Project have written an open letter to the World Bank, expressing concern that the recently granted $114M COVID-19 relief fund could be looted, much like the recent rounds of financial corruption presently dappling the Nigerian political space.
In a letter dated August 8, signed by Kolawole Oluwadare, SERAP’s Deputy Director, the accountability organisation expressed concern that the loan would be stolen and diverted if not monitored
“We are concerned that the money and resources may be stolen, diverted or mismanaged by authorities and state governors without effective transparency and accountability mechanisms, especially given increasing reports of allegations of corruption & mismanagement of COVID-19 funds,” SERAP said in a statement.
Daily Times had earlier the World Bank Board of Directors last Friday approved a $114.28 financing to help the country battle COVID-19 with a particular emphasis on state level responses.
READ ALSO: World Bank supports Nigeria’s COVID-19 response with $114m
According to a statement from the World Bank, the financing included $100 million credit from the International Development Association (IDA) and $14.28 million grant from the Pandemic Emergency Financing Facility.
The $100 million credit with Project ID number: P173980, is due to be paid back over a period of 30 years, with an extensional 5-year period of grace.
SERAP have now enjoined the World Bank President, David Malpass, to pressurize the Nigerian Government to submit its principal officers to Public Scrutiny with regard to how the grant is managed to avoid diversion and mismanagement of the funds
“Put pressure on authorities and the 36 state governors to accept voluntary scrutiny by Nigerians and civil society regarding the spending of the funds and use of the resources, including on how they will spend the money to buy medical equipment, and improve access to clean water, sanitation and hygiene,” SERAP said.
Leave a Comment
You must be logged in to post a comment.