‘Don’t take $2bn loan from China’ – Falana

‘Don’t take $2bn loan from China’ – Falana

Prominent human rights lawyer and Senior
Advocate of Nigeria, Femi Falana has
advised the Federal Government to
abandon its plan of borrowing $2 billion
from China, saying that such a move will
plunge ‘the nation into more indebtedness.’

Falana urged the Muhammadu Buhari
administration to instead, make efforts to
recover funds that were not remitted or
looted from the government treasury.
The said fund comes to a total of about $
200 billion.

The senior lawyer stated this in a letter
dated April 8, 2016 – which was addressed
to the Minister of Finance, Kemi Adeosun.
The letter reads in part: “In the light of the
foregoing, we are compelled to call on the
Federal Government to muster the political
will and courage to recover the aforesaid
withheld or stolen wealth of not less than $
200bn belonging to the Nigerian people.”

“However, if you refuse to accede to our
request we shall have no alternative than to
initiate legal proceedings at the Federal
High Court with a view to restraining the
Federal Government from further plunging
the nation into external indebtedness.”

The letter which was entitled ‘Request for
the collection of outstanding revenue of $
200bn withheld from the Federation
Account or stolen by looters,’ further stated
that: “In particular, we requested the
Federal Government to embark on the
recovery of the revenue of $42bn withheld
from the Federation Account from 1999 to
2012 by some transnational oil companies,
the Nigerian National Petroleum
Corporation and other agencies of the
Federal Government.”

“In your reply dated March 17, 2016 you
assured us that the issues raised in our
letter were receiving the attention of the
Federal Government.”

“We were therefore surprised to learn that
the Administration had applied to the
Chinese Government for another loan of $

“In urging the Federal Government to desist
from taking the loan of $2bn from China or
any other country we are compelled to
advise the Federal Government to intensify
efforts to recover the nation’s wealth which
has been criminally diverted by a handful of
local and foreign looters.”

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Posted by Adeapin. Francis adebayo., Published at Monday, April 11, 2016 and have 0 comments

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