$5.3bn Chinese Loans: Amaechi under pressure to resign 

Abiola Seun     |      

The Conference of Nigeria Political Parties (CNPP) has demanded  immediate  resignation of the Minister of Transportation, Rotimi Amaechi over the controvesial Chinese loans.
The group also called for the continuation of  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 General, 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

“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 call 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 organisations on
the next line of action on the matter”, the statement reads in part.

© 2020, maritimemag. All rights reserved.

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