Transparency International, Nigeria, on Tuesday charged the National Assembly to reject future loan requests from President Muhammadu Buhari.
The Executive Director of Transparency International, Nigeria, Auwal Rasfanjani, said in a chat with journalists that the call had become necessary due to alleged waste of resources and corruption in the system.
Senate had in April approved the federal government’s external loan request totalling N5.5 billion to fund priority projects in the country.
The House of Representatives also approved the $22.7 billion loan requested by the government during the same period.
Rasfanjani said the watchdog was strongly against further borrowings without sufficient explanation on the management and utilization of recovered funds by the federal government.
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He alleged that recovered loots and borrowed funds were either diverted or stolen by government officials.
The Transparency International official revealed how the Nigeria National Petroleum Corporation (NNPC) and its subsidiary, Nigeria Petroleum Development Company (NPDC) failed to remit a whopping $21.778 million and N316.074 billion to the Federal Account.
He also recalled how the Ministries, Department and Agencies (MDAs) had continued to receive allocations without showing how the funds were spent
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