See Why President Muhammadu Buhari Is Sued By SERAP

The Socio-Economic Rights and Accountability Project (SERAP) has asked the Federal High Court in Abuja to stop President Muhammadu Buhari and the Federal Government from borrowing an estimated N895bn of Nigerians’ money in the form of their unclaimed dividends and balances in dormant accounts.
The suit number FHC/ABJ/CS/31/2021 was filed last Friday on behalf of SERAP by its lawyers, Kolawole Oluwadare and Adelanke Aremo.

Joined in the suit as defendants are the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN); the Senate President, Ahmad Lawan; the Speaker of House of Representatives, Femi Gbajabiamila; and the Minister of Finance, Budget and National Planning, Zainab Ahmed.

The suit noted that SERAP is seeking: “an order of perpetual injunction restraining and stopping President Buhari from demanding, taking over, borrowing, and collecting Nigerians’ money in the form of their unclaimed dividends and funds in dormant accounts or transferring and moving the money into a trust fund known as ‘Unclaimed Funds Trust Fund’”.

In the suit, SERAP is arguing that “the Federal Government should not be allowed to borrow Nigerians’ money. Borrowing unclaimed dividends and funds in dormant accounts owned by ordinary Nigerians would negatively affect their right to an adequate standard of living, and access to clean water, quality healthcare and education.”