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 to fund the Abuja Closed-Circuit Television (CCTV) project.
The initiative, aimed at boosting security across the Federal Capital Territory (FCT), came under scrutiny following a motion of urgent national importance moved by Hon. Amobi Ogah (LP, Abia) during Wednesday’s plenary.
Ogah recalled that the project was first launched under former President Goodluck Jonathan’s administration to enhance surveillance, support law enforcement, and curb criminal activities in Abuja.
He noted that in 2010, the then Minister of Finance, Dr. Olusegun Aganga, led a federal delegation to Beijing to sign a Memorandum of Understanding (MoU) with ZTE Communications, the Chinese firm contracted for the project.
The lawmaker explained that the project was financed through a $460 million loan from China-EXIM Bank, part of a $600 million soft loan facility, repayable over 10 years following a 10-year grace period.
Ogah expressed concern that, despite the substantial investment and ongoing loan repayments, the CCTV system has yet to achieve its intended security impact, as incidents of crime continue in the capital.
The House directed its Committees on National Security and Intelligence, Finance, and Public Accounts to probe the loan, contract implementation, and current status of the project, and report back for further legislative action.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
