The Socio-Economic Rights and Responsibility Project (SERAP) suggested that the World Bank inspire the federal government and governments of the 36 states about a desire to publicly devote to transparency and accountability in credit spending and the $114.28 million grant to COVID-19, which the Bank’s Board of Directors recently approved for Nigeria.
The World Bank Board of Directors on Friday (August 7, 2020) approved a $114.28 investment to help Nigeria prevent, trip and respond to the risk posed through COVID-19 with a specific response at the state level.
This is a $100 million loan from the International Development Association (IDA) and a $14.28 million grant from the emergency investment mechanism to a pandemic.
According to the Bank, credits of $100 million with the identity of the project, ID, number: P173980, must be reimbursed in 30 years, with an additional grace period of five years.
SERAP, which delivered the fee in an open letter dated August 8, 2020, through its deputy director, Kolawole Oluwadare, sent to World Bank President David Malpass, also requested the publication of the main points of the amount on a compromised website.
SERAP also suggested to Malpass that “pressure the government and the 36 state governors to accept a voluntary review through Nigerians and civil society regarding budget spending and resource use, adding how they will spend cash to buy medical equipment, and access to blank water, sanitation and hygiene.
“The World Bank has a duty to ensure that federal and state governments are transparent and accountable to Nigerians for how they spend approved loans and subsidies. The Bank will have to exercise caution in disbursing the budget or distributing resources to states if it is to reduce vulnerability to corruption and mismanagement”.
SERAP expressed serious considerations that cash and resources would likely be stolen, embezzled or mismanaged through state governors without effective mechanisms of transparency and accountability, i.e. in the reporting of corruption and mismanagement of COVID-19’s budget through federal and state agencies. governments and impunity for perpetrators.
The organization said: “Insisting on transparency and accountability would ensure reimbursement of appropriations and allocation objectives and the intended purposes for which the budget and resources are approved, distributed and distributed.
“The Bank’s strength to provide loans and donations is accompanied by a fiduciary duty for governments that spend these budgets to meet foreign criteria of transparency and accountability by adding those enshrined in the United Nations Convention against Corruption to which Nigeria is a party.”
The copy letter to Shubham Chaudhuri, the World Bank’s national director for Nigeria, said in part: “Implementation of these recommendations would prevent a repeat of the alleged embezzlement and mismanagement of recovered loot from Abacha paid through the federal government to state governments. . “
“The World Bank makes it clear to all governors that it will cancel credit and subsidy if they fail to meet their commitments of transparency and accountability to spend the cash and use the resources exclusively for COVID-19-related projects, and not steal, divert or manage them wrongly.
“Given that the point of federal borrowing and resource allocation and use through state governors may have a political basis, the Bank’s influence may be the only restriction that state governors will take seriously.
“SERAP encourages you and the World Bank, in any long-term commitment to Nigeria’s state governments, to insist on access to data on how governors spend the security votes and public budget amounts that states allocate to pay the lifetime pensions of ex-governors, among others, as well as to the point of corruption within each state before approving allocations and donations.”
SERAP noted that the government deserves to disburse cash and distribute resources to the 36 state governments and Federal Capital Territory (TTF) as a warning to break the local COVID-19 transmission chain and restrict the spread of coronavirus through containment. Mitigation strategies.
He continued: “Approved cash will also help fund federal purchases of medical equipment, laboratory tests, and drugs to be distributed to states as needed, and provide help to laboratories for early detection and confirmation; Equipment and renovation of the isolation and rehabilitation centers, he added. network aid centres and advanced in hospitalized patient transfer systems through investment and training in ambulances”.
Foreground
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