Transparency International, Nigeria, has urged the National Assembly to decline future loan requests from President Muhammadu Buhari.
While chatting with journalists, the Executive Director of Transparency International, Nigeria, Auwal Rasfanjani, said that the call had become important due to alleged waste of resources and corruption in the country.
In April, Senate approved Federal Government’s external loan request of N5.5 billion to execute priority projects in the country.
Also, the House of Representatives approved the $22.7 billion loan request by the government during in April.
Rasfanjani said the body was firmly against further borrowings without adequate explanation on the administration and utilization of recovered funds by the Federal Government.
Rasfanjani also alleged that borrowed funds and recovered loots were either diverted or stolen by top government officials.
The Transparency International official pointed out how the Nigeria National Petroleum Corporation (NNPC) and its subsidiary, Nigeria Petroleum Development Company (NPDC) did not remit $21.778 million and N316.074 billion to the Federation Account.
Rasfanjani also revealed how the Ministries, Department and Agencies (MDAs) had received allocations continuously without revealing how the funds were spent.
