The Independent Corrupt Practices and Other Related Offenses Commission (ICPC) has interrogated two officials from the Central Bank of Nigeria (CBN) and one from the Office of the Accountant-General of the Federation (OAGF) regarding a $3.4 billion loan purportedly granted to Nigeria by the International Monetary Fund (IMF).
It is worth noting that the Socio-Economic Rights and Accountability Project (SERAP) had previously initiated legal action against President Bola Tinubu for neglecting to investigate the $3.4 billion loan, which SERAP claimed was either “missing, diverted, or unaccounted for.”
This legal action aligns with Section 16(1) and (2) of the 1999 Constitution. In response to calls for an inquiry from various civil society organizations, the ICPC has obtained crucial documents related to the loan, intended for budget financing and COVID-19 management.
An inside source informed The Nation that the investigation into the loan is already underway.
“ICPC has launched a comprehensive investigation into the $3.4 billion loan.
“The commission began the probe after it had reviewed the report of the Auditor-General of the Federation.
“Our investigators are trying to establish if the cash was missing, diverted, or unaccounted for.
“The documents relating to the loan were retrieved from the CBN, the OAGF, and the Ministry of Finance.
“Some CBN and OAGF officials were interviewed, and the officials of the Ministry of Finance will be interviewed in the coming (this) week.
“Investigation is ongoing into the various approval and utilisation of the funds by the beneficiaries,” he said.
