Human Rights Writers Association of Nigeria, (HURIWA) has asked the incoming administration of the President-Elect, Bola Tinubu to conduct forensic audit of controversial N23.72 trillion Federal Government’s unappropriated expenditure, funded by the Central Bank of Nigeria (CBN) through its ways and means (W&M) window.
In a statement today, May 4, by its National Coordinator, Comrade Emmanuel Onwubiko, the group said that to restore sanity and citizens’ trust, the incoming President must send strong signals to corrupt government officials.
“President Muhammadu Buhari has succeded in leaving a bad legacy of debt for Nigeria’s generation unborn. The next government should conduct forensic investigation of how these so-called debts were incurred and their uses and list out individuals indicted.
“Those culpable for mismanagement of state funds should be put on trial even if they become ex-Presidents or former ministers.
“Nigeria must begin to deal with corruption and lawless ex-President as seen in the case of Peru so that we can restore sanity.”
The Debt Management Office (DMO) had said that several loans have been contracted from multilaterals like the World Bank, the African Development Bank and bilaterals like Germany, India, China while the Federal Government keeps issuing promissory notes to settle obligations for which it doesn’t have the revenue.
According to the DMO, Nigeria’s debt stock is N46.25 trillion, including the debt of the 36 state government and the Federal Capital Territory. It added that the Federal Government is responsible for 84% to 85% of this debt.
The DMO said that while the 2023 budget size is N21 trillion, borrowing is N10 trillion.
