Falana set to sue Buhari over China loan
Falana has told the FG not to obtain $2bn loan from China – He said the loan will further plunge the nation into more indebtedness. Minister of Finance, Kemi Adeosun Human right lawyer and Senior
Advocate of Nigeria, Femi Falana, has said he will sue the Buhari led federal government should the government obtain $2bn loan from China. Mr Falana said the move “plunging the nation into more indebtedness suggesting that the government should intensify efforts to recover some funds totaling about $200bn which were either not remitted to the Federation Account or stolen from the nation’s treasury. He warned against increasing the nation’s external debt of $64bn asking the government to jettison its plan to take a loan of $2.5bn from the World Bank and $1bn from the African Development Bank. In a letter addressed to the minister of finance, Mrs Kemi Adeosun, the popular lawyer said: “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.” “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 $2bn. “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,” Falana said in the letter. Meanwhile, Ekiti state governor, Mr Ayodele Fayose has said that the federal government was planning to impose more hardships on Nigerians by increasing Value Added Tax (VAT) from the current five per cent to 10 per cent. Fayose described the move as insensitive to the plight of Nigerians who are suffering from the bad economic policies of the President Mohammadu Buhari led All Progressives Congress (APC) government.
