The Debt Management Office (DMO) on Wednesday said appropriate authorities reviewed the loans agreement between China and Nigeria before they are signed. Recently, the conditions of the loan have been mired in controversy over a clause handing Nigeria’s sovereignty to China in a loan agreement. The clause, described as “lethal” by a house of representatives … Read more
Minister of transportation, Rotimi Amaechi, on Tuesday again prevaricated when asked to be explicit on choice of third party in the loan agreement between Nigeria and China. The minister declined to answer a question thrown at him during a Channels Television programme on why Hong Kong is the third party in one of the loan … Read more
A house of representatives panel has drawn public attention to clauses in loans agreement between Nigeria and China wherein the former will have to concede its independence and sovereignty to the Asian country if the loan is not repaid. The clause described as “lethal” by the panel is in article 8(1) of the commercial loan … Read more
House of Representatives member, Ben Ibakpa, has accused officials representing the Nigerian government of putting pen to paper on loan documents from China despite their inability to decipher the language the loan terms are written in. Ibakpa said Nigeria dealings with China when it comes to loan are shrouded in secrecy as the house of … Read more