The Socio-Economic Rights and Accountability Project, (SERAP) has sent a letter to the World Bank President, David Malpass, urging him to demand that the Nigerian government account for the spending of $114.28million grant for COVID-19.
They were also asked to put pressure on governors to accept voluntary scrutiny by Nigerians and civil society regarding the spending of the funds.
The World Bank credit with Project ID number: P173980, is due to be paid back over 30 years, with an additional 5 years grace period.
The fund includes $100million credit from the International Development Association (IDA) and $14.28million grant from the Pandemic Emergency Financing Facility.
SERAP deputy director, Kolawole Oluwadare, noted that the organization has a responsibility to ensure that Nigerian authorities account for the disbursement of the funds.
The body said the bank’s power to provide credits and grants is coupled with a fiduciary responsibility to ensure that governments’ spending meets international standards of transparency and accountability, including those entrenched in the UN Convention against Corruption.