Chinese loans: Amaechi advised to step aside - Uju Ayalogu's Blog for News, Reviews, Articles and More

Breaking News

Post Top Ad

Sunday, 2 August 2020

Chinese loans: Amaechi advised to step aside

READ ALSO:   Boko Haram attack: There’s sabotage, Buhari must know the truth – Gov Zulum cries out

The Conference of Nigeria Political Parties (CNPP) has demanded that the Minister of Transportation, Rotimi Amaechi should immediately step aside.

The body based its call on the probe of the alleged lethal clauses in Article 8(1) of the commercial loan agreement signed between Nigeria and Export-Import Bank of China.

The agreement allegedly “wills the sovereignty of Nigeria” in the $400 million loan for the Nigeria National Information and Communication Technology (ICT) Infrastructure Backbone Phase II Project, signed in 2018.

The People’s Democratic Party (PDP) has raised the alarm over the loan.

On Sunday, CNPP Secretary General, Willy Ezugwu, commended the Chairman House Committee on Treaties and Agreements, Nicholas Ossai “for observing the anomaly and not succumbing to the Minister’s antics aimed at truncating the probe.”

He frowned at the attempt by the Minister to stop the investigative hearing into some of the agreements signed between Nigeria and China while responding to various questions on the ongoing modernization of railway projects being implemented by his ministry.

“We are aware that the Minister is expected to appear again before the House of Representatives on 17th August, 2020, over the ongoing investigation into the commercial loan agreement signed between Nigeria and Export-Import Bank of China to the tune of $5.3 billion.

“For us, for Mr. Rotimi Amaechi to urge the House Committee not to investigate the terms of the loans being received by the federal government because he believed that the probe will jeopardize the chances of the country getting further loans is nothing but a cover up attempt that must be strongly resisted.

READ ALSO:   Boko Haram attack: There’s sabotage, Buhari must know the truth – Gov Zulum cries out

“The Minister’s further argument that China was monitoring happenings in Nigeria and the probe will send a negative message to the Asian country about Nigeria is clearly an affront on the intelligence of the Nigerian people.

“We believe that the real fear of the Minister of Transportation is that if the probe continues, at the end of the day, his deeds against the Nigerian people will come to the open.

“The CNPP hereby called on the minister to step aside for proper investigation as he has proven that, by his defence in favour of the defective loan agreement, he has something to hide.

“The CNPP is keeping track of the Minister’s ongoing argument in the media and is currently consulting with relevant civil society organizations on the next line of action on the matter”, the statement read.

READ ALSO:   Herdsmen plotting to conquer Nigeria, Christians – Nnamdi Kanu reacts to Miyetti Allah security outfit

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 by clicking here. For Advert Inquiries Tel/+44(0)7590363984

For More:   Subscribe to

Subscribe to Our Posts via Email

Share This

No comments:

Post a comment

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

Post Bottom Ad