SERAP to World Bank - 'Disclose how Abacha loot was spent'

A civil society organisation, the Socio-Economic Rights and Accountability Project, has asked the World Bank to disclose how the loot recovered from the late military dictator, Gen. Sani Abacha, was spent.

The group wants the world Bank to release to it, documents detailing the projects to which the recovered loot was applied, as well as the implementation status of such projects.

It said such information would not only enable the Nigerian masses to know the status of the recovered loot but it would also equip the civil society organisations to engage the government on greater transparency and accountability.

The Access to Information Request sent to the President of the World Bank, Jim Yong Kim, by SERAP, was signed by its Executive Director, Adetokunbo Mumuni.

It read in part, “The World Bank has been involved in overseeing the transfer, disbursement and spending of recovered funds from General Abacha, and other similar initiatives to repatriate stolen funds to Nigeria. As such, the World Bank is not a neutral party in this matter.

“SERAP believes that releasing the documents would enable the civil society to meaningfully engage in the management and supervision of repatriated funds, contribute to the greater public good, and enhance transparency and accountability in the management of the country’s resources.

“There is also clear public interest in Nigerians knowing about the bank’s supervisory role and specifically its involvement in the implementation of projects on which repatriated funds were spent.”

It said by releasing the documents, the World Bank would not only be helping to strengthen Nigeria’s current anti-graft war, but the bank would also be preserving its own credibility and relevance.

“Indeed, the bank needs to lead by example in issues such as transparency and public disclosure raised in this request,” SERAP stated.

The group, however, said it would not hesitate to approach the World Bank’s Access to Information Committee’ Secretariat, should the World Bank President fail to oblige its request.