3rd JUNE 2013 MR. MUSTAPHA CHIKE OBI MANGING DIRECTOR/CEO, ASSET MANAGEMENT COMPANY OF NIGERIA, 3RD FLOOR, MURJANATU HOUSE, 1, ZAMBEZI CRESCENT, OFF AGUYI IRONSI STREET, MAITAMA, ABUJA Dear Sir, REQUEST FOR THE LIST OF BENEFICIARIES OF N22BILLION NAIRA FEDERAL GOVERNMENT GRANT TO STOCKBROKERS THROUGH ASSET MANAGEMENT COMPANY OF NIGERIA (AMCON) Human and Environmental Development Agenda [HEDA Resource Centre] is a Non-Governmental Organization [NGO] whose mandate is to promote, protect and defend universally recognized human rights and environmental justice in Nigeria and Africa, in accordance with international standard. HEDA Resource Centre envisions a society whose principle is based on equity, accountability and social justice. We refer you to the June 1st edition of Premium times online with a report captioned “Civil Society Groups Condemn AMCON, Nigerian Government over secret N22billion naira largesse to stockbroker”. According to the report, the Federal Government through AMCON decided to give a N22 billion forbearance package to 84 of Nigeria’s 200 stockbrokers. The report further stated that AMCON does not intend to publish a list of these beneficiaries because it may impact negatively on the nation’s gradually recovering stock exchange. We believe that there is no basis for such reasoning in laws of Nigeria and financial operations of the country. Vertical accountability in democratic governance is not only crucial for democratic sustainability but also for fiscal responsibilities. The public should be able to hold to account Government agencies on how public funds are spent. To do this, people need information about what decisions the government is taking and their rationale. It is therefore unethical for the government not to reveal the beneficiaries of this fund, as they have moral, legal and constitutional obligation to do so. On this ground and by virtue of sec 2, 3, and 4 of the Freedom of Information (FOI) Act we hereby request for a list of the beneficiaries of the N22billion grant within Seven days of the receipt of this request, in line with the FoI provisions. We would appreciate if this information is made available to us as requested to avoid legal and political actions against the disbursement of the funds. Thank you for your understanding and anticipated prompt response. Yours sincerely OLANREWAJU SURAJU Chairman
Posted on: Mon, 17 Jun 2013 14:42:11 +0000
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