Auwal Rafsanjani, the executive director of the Civil Society Legislative Advocacy Centre (CISLAC) and head at Transparency International Nigeria, has issued a strong call for the cancellation of illegitimate and dubious debts.
He made this call at a Financing for Development Conference in Spain held from June 30th to July 3, 2025.
Rafsanjani urged urgent reform of global financial institutions and a strengthened legislative role in financing for development and accountable spending.
He emphasised the need for African lawmakers to be more actively engaged in shaping and overseeing financial decisions that affect national development.
“Legislators must not be sidelined. Legislators have the constitutional mandate to approve budgets, approve loans, monitor debt agreements, and ensure that public and borrowed funds are used transparently and equitably,” he stated.
“These debts are unjust. Their enforcement continues to stall development, burden future generations, and weaken national sovereignty,” Rafsanjani declared.
Newspot reports that stakeholders raised concerns as Nigeria’s total debt stock increased to N144.39 trillion as of March 31st, 2025.
