The House of Representatives is set to investigate the $460m loan from China secured by the President Goodluck Jonathan administration to procure and install Closed-Circuit Televisions (CCTV) in Abuja.
This follows the adoption of a motion of urgent public importance moved by the member representing Isuikwuato/Umunneochi Federal Constituency, Abia State, Amobi Ogah during Wednesday’s plenary.
Ogah noted that the spate of insecurity in the nation’s capital has made it imperative to revisit the project.
In 2010, the Federal Government took a loan of $460m to install CCTV cameras in the FCT, but the project was not executed.
The 9th House in 2019, through its Committee on Finance, took the Ministry of Finance to task on the status of the project and failure to execute the project. The Minister of Finance at the time, Zainab Ahmed, told the Committee that the loan was being serviced but failed to give details on the status of the project.
In 2023, a Federal High Court in Abuja ordered the Federal Government to make public the details of how the $460m was spent after listening to prayers in a suit brought before it by the Socio-Economic and Accountability Project.
Speaking on the substance of the motion on Wednesday, the lawmaker stated that “The administration of former President Goodluck Jonathan, acting in good conscience, embarked on the need to curb insecurity in the Federal Capital, Abuja, by installing CCTV cameras around strategic areas to monitor unwholesome activities with a view to preventing crime and placing surveillance on criminals and apprehending them.
“In order to firm up the above, erstwhile Finance Minister, Dr Olusegun Aganga, led a Federal Government delegation to Beijing, China in 2010 to sign a Memorandum of Understanding with ZTE Communications of China, to which the contract for the installation of the CCTV was equally awarded.
“The House is concerned that the funds for the contract were secured through a $460m loan obtained from the China-EXIM Bank and lifted from a $600m financing portfolio secured as a soft credit loan, with interest repayable in 10 years, after an initial 10 years of grace.”
