$5.5Billion Chinese Loan- Afenifere Replies Amaechi, Says No Inch Of Yoruba Land Will Be Ceded To FG’s Creditors - Uju Ayalogu's Blog for News, Reviews, Articles and More

Breaking News

Post Top Ad

Sunday, 2 August 2020

$5.5Billion Chinese Loan- Afenifere Replies Amaechi, Says No Inch Of Yoruba Land Will Be Ceded To FG’s Creditors

$5.5Billion Chinese Loan- Afenifere Replies Amaechi, Says No Inch Of Yoruba Land Will Be Ceded To FG’s Creditors

The pan-Yoruba sociopolitical group, Afenifere, on Friday declared that no inch of Yoruba land will be ceded to creditors of the Federal Government should there be reasons for its creditors to make such demands.

Afenifere was reacting to reports that the Federal Government had signed an agreement with the Chinese government, which contains a clause that compels Nigeria to waive its immunity for itself or its property in case of a breach of the agreement.

$5.5Billion Chinese Loan- Afenifere Replies Amaechi, Says No Inch Of Yoruba Land Will Be Ceded To FG’s Creditors

READ ALSO:   Breaking: ISWAP executes its Commanders, Igbo man, Nigerian soldiers on Sallah day

$5.5Billion Chinese Loan- Afenifere Replies Amaechi, Says No Inch Of Yoruba Land Will Be Ceded To FG’s Creditors

In a statement by its spokesman, Mr Yinka Odumakin, Afenifere described the disclosure that a clause in a  loan agreement signed by the President Muhammadu Buhari-led government ceded the sovereignty of Nigeria and its assets if the nation defaults in payment as worrisome.

Odumakin said: “The Yoruba nation will not allow an inch of its land to be taken over by any foreign interest to which  any government that is loan-crazy must have concessioned the sovereignty.

We are not aware of any such authority given to any government to do such. “Let lenders beware so they don’t give loans beyond what any regime can repay in its tenure.”

The controversial clause in the agreement says: “The borrower hereby irrevocably waives any immunity on  the grounds of sovereign or otherwise for ITSELF or its property in connection with any arbitration proceeding pursuant to Article 8(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military  assets and diplomatic assets.”

Source: Tribune

READ ALSO:  My greatest joy is my husband made heaven though I miss him — Florence Ajimobi

Are you an artiste? Do you want your music to go viral and reach a large number of audience? Promote your music and Submit your story on Ujuayalogusblog.com by clicking here. For Advert Inquiries Tel/+44(0)7590363984

For More:   Subscribe to Ujuayalogusblog.com

Share This

No comments:

Post a comment

Listen to This Beautiful New Talent - Winter Wolf - Singing "What a Waste"


Post Bottom Ad

Pages