The House of Representatives has resolved to investigate the $460 million Chinese loan secured to finance the Abuja Closed-Circuit Television (CCTV) project, which was intended to bolster security across the Federal Capital Territory (FCT).

This followed the adoption of a motion of urgent national importance moved by Hon. Amobi Ogah (LP, Abia) during plenary on Wednesday.

Presenting the motion, Ogah recalled that the administration of former President Goodluck Jonathan initiated the CCTV project to enhance surveillance, support law enforcement operations, and reduce criminal activities in the FCT.

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 of China — the company awarded the contract for the project.

According to him, the project was financed through a $460 million loan from the China EXIM Bank, drawn from a $600 million credit facility extended to Nigeria as a soft loan, repayable over a 10-year period after a 10-year moratorium.

Ogah expressed concern that despite the substantial financial commitment and ongoing loan repayments, the CCTV infrastructure has failed to meet its core objectives of improving security in Abuja.

He lamented that insecurity persists across the nation’s capital, stressing the need for accountability in the management and implementation of the project.

Following deliberations, the House mandated its Committees on National Security and Intelligence, Finance, and Public Accounts to investigate the circumstances surrounding the loan, the contract’s execution, and the current status of the CCTV project.

The committees are to report their findings to the House for further legislative action.