$5.3b Chinese loans: CNPP asks Amaechi to resign

Date:

By Christiana Ekpa

The Conference of Nigeria Political Parties (CNPP) has demanded that the Minister of Transportation, Rotimi Amaechi immediately steps aside while 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 which 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.
In a statement signed by its Secretary, Chief Willy Ezugwu, the CNPP commended the Chairman of the House Committee on Treaties and Agreements, Hon. Ossai Nicholas Ossai “for observing the anomaly and not succumbing to the Minister’s antics aimed at truncating the probe.”
The CNPP then 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 modernisation 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 jeopardise the chances of the country getting further loans is nothing but a cover up attempt that must be strongly resisted.
“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.

READ MORE  Elon Musk: X will suspend users doing engagement farming

Never miss a moment! Get the stories shaping Nigeria, delivered straight to your phone. Follow Peoplesdaily Newspaper on WhatsApp for breaking news, exclusive reports, and the headlines everyone will be talking about, before anyone else.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

TODAY'S e-PUBLICATION

Popular

More like this
Related

MHWUN President Urges Youth to Strengthen Union, Champion Decent Work

By Moses John The National President of the Medical...

2027: North Central Rainbow Network Endorses President Tinubu for Second Term, Names Rep Leke Abejide As Grand Patron

The North Central Rainbow Network (NCRN), a multi-party coalition...

Geregu Power Reassures Investors, Confirms Full Bond Payment

Geregu Power Plc has announced the full settlement of...

South Korea shortens war games with US, citing Washington request

South Korea’s annual joint military drills with the US...