Shehu Sani, a former federal representative from Kaduna, has provided his opinion on the abandoned $460 million Abuja Closed-Circuit Television (CCTV) project.
According to a statement provided to Newsmen by the Socio-Economic Rights and Accountability Project (SERAP), the Federal High Court in Abuja had ordered the administration of outgoing President Muhammadu Buhari to account for the $460 million Chinese loan that was used to fund the project.
The court also ordered the government to “publish the total amount of money paid to Chinese and local companies and contractors and specific details of the names of the companies and contractors and status of the implementation of the project.”
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According to a Punch story, the Goodluck Jonathan administration granted the CCTV contract to a Chinese company in 2010 after Olusegun Aganga, the country’s then-finance minister, led a delegation to sign a Memorandum of Understanding in Beijing, China.
A $600 million finance portfolio secured as a soft credit loan was to be used to fund the project. After a first ten years of grace, the loan’s interest was due in 10 years.
The CCTV initiative was intended to improve security, but it never materialized, and security has actually gotten worse over time.
Sani responded to the incident via a tweet and called it a massive fraud, asking why no one had been detained or the matter looked into.
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He wrote, “Abuja CCTV project is a $460m monumental fraud;No cameras,no money and no one is apprehended or investigated.”
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