Socio-economic Rights and Accountability Project (SERAP) has urged President BOLA TINUBU to direct the Attorney General of the Federation and Minister of Justice, LATEEF FAGBEMI (SAN), and anti-corruption agencies to investigate the spending of 1.5 billion dollars World Bank loan obtained by 36 states and Abuja for poverty reduction and social protection.

SERAP said suspected perpetrators of corruption and mismanagement should face prosecution and, if sufficient evidence is established, proceeds of corruption should be fully recovered from them.

The organisation also urged the President to direct FAGBEMI and anti-corruption agencies to investigate the alleged mismanagement of Chinese loans of 3.121 billion dollars obtained by the Federal Government.

SERAP lamented that the allegations had undermined the ability of governments at all levels to address the debilitating poverty and economic inequality across the states and the Federal Capital Territory.