Whereas a Federal High Court in Abuja last week, ordered President Muhammadu Buhari’s government to “account for the spending of $460 million Chinese loan to fund the failed Abuja Closed-Circuit Television (CCTV) project,” it is very important to trace the origin of the deal.
Findings by Business Hilights show as follows:
“The CCTV project was awarded by late President Umaru yar’Adua’s administration to the Chinese firm ZTE in August 2010. The project cost was$470 million for the purpose of providing Abuja with electronic surveillance delivered through a network of street mounted CCTV cameras. It was also expected to provide Nigeria Police Force with anti-terrorism intelligence back-up through Code Division Multiple Access [CDMA] technology. It was funded from a $600 million China Exim Bank credit facility at 3% interest and a term of 10 years. Nigeria was represented at the loan’s signing agreement in China in June 2010 by then Finance Minister Olusegun Aganga, then Police Affairs Minister Adamu Maina Waziri and then Police Inspector General of Police [IGP] Hafiz Ringim.”
…END OF FINDINGS
However, the court also ordered the government to “publish the total amount of money paid to Chinese and local companies and contractors, specific details and the implementation of the project.”
Hon. Justice Emeka Nwite made the orders while delivering judgment in a Freedom of Information suit number: FHC/ABJ/CS/1447/2019 brought by Socio-Economic Rights and Accountability Project (SERAP).
This was contained in a statement on Sunday by SERAP signed by its deputy director, Kolawole Oluwadare.
According to the statement, the suit followed the disclosure in 2019 by the Minister of Finance, Zainab Ahmed that “Nigeria was servicing the loan,” adding that she had ‘no explanations on the status of the project.’ She reportedly said, “We are servicing the loan. I have no information on the status of the CCTV project.”
