Fire Guts ‘World Bank Project’ In Nigeria

An inferno broke out at the Multi-Sectoral Crisis Recovery Project (MCRP) coordination office in Damaturu, Yobe State earlier today.

Reports obtained by Naija News revealed that the office, supported by the World Bank, is situated along Potiskum Road.

The tragic fire incident reportedly broke out around 12:40 pm on Sunday.

Vanguard quoted an eyewitness to have confirmed that the Yobe State Fire Service had to intervene and deploy their firefighters to extinguish the intense flames.

However, the cause of the fire incident has yet to be ascertained, and the coordination office has not released an official statement regarding the incident as of the time of filing this report.

 

Why World Bank Must Suspend Loans To Nigeria’s 36 States – SERAP

Meanwhile, the Socio-Economic Rights and Accountability Project (SERAP) has urged the World Bank President, Mr Ajay Banga, to promptly, transparently and effectively conduct an investigation into the spending of loans and other facilities by the country’s 36 state governors and to suspend any loans and funding “if there is relevant admissible evidence of mismanagement or diversion of public funds by any of the states.”

In the letter dated 25 November 2023 and signed by SERAP deputy director Kolawole Oluwadare, the group also urged the Bank to suspend further applications for loans and any other funding to the 36 states until these states are able to satisfactorily explain details of spending of loans and other facilities obtained from the Bank and its partners.

Many of the country’s 36 states are allegedly mismanaging public funds which may include loans obtained from the Bank and its partners, and allocations from the Federal Government, which may also include loans obtained from the Bank.

SERAP said the World Bank and its partners cannot continue to give loans and other funding to these states where there are credible allegations of mismanagement or diversion of public funds.

According to the group, they are concerned that there is a significant risk of mismanagement or diversion of funds linked to the Bank’s investments in many of the country’s 36 states.

SERAP stated that it is neither appropriate nor responsible lending to give loans to these states only for the loans to be misspent.