Reps Launch Probe into $460m Chinese Loan for Abuja CCTV Project

The House of Representatives has resolved to investigate the $460 million Chinese loan obtained by the Federal Government for the Abuja Closed-Circuit Television (CCTV) project, which was meant to boost security across the Federal Capital Territory (FCT).

This followed the adoption of a motion of urgent national importance sponsored by Hon. Amobi Ogah (Labour Party, Abia) during Wednesday’s plenary session.

In his motion, Ogah recalled that the CCTV project was initiated during the administration of former President Goodluck Jonathan as part of efforts to strengthen surveillance, support law enforcement operations, and combat rising criminal activities in Abuja.

He explained that in 2010, the then Minister of Finance, Dr. Olusegun Aganga, led a Federal Government delegation to Beijing, China, where a Memorandum of Understanding (MoU) was signed with ZTE Communications, the Chinese company awarded the contract for the project.

According to Ogah, the project was financed with a $460 million loan from the China-EXIM Bank, drawn from a $600 million credit facility granted to Nigeria as a soft loan, repayable over 10 years after a 10-year grace period.

The lawmaker expressed concern that despite the huge investment and ongoing loan repayments, the project had failed to deliver its intended results, as security challenges persist in Abuja.

“Despite the enormous financial commitment, the CCTV project has not improved security surveillance in the FCT. Nigerians deserve to know how such a massive investment yielded little to no result,” Ogah stated.

He stressed that the situation calls for greater accountability regarding the management, execution, and current status of the project.

Following extensive deliberations, the House mandated its Committees on National Security and Intelligence, Finance, and Public Accounts to investigate the circumstances surrounding the loan, the project’s implementation process, and its present condition, and to report back to the House for further legislative action.

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