Scannews24
Nigeria News Hub

“South-East Excluded” – Nnamdi Kanu Writes IMF, WB, ADB, EU to halt Nigeria’s Loan

0 3,495

The leader of the Indigenous People of Biafra, IPOB has written to several financial institutions to discontinue aiding help to the Nigerian government.

Kanu confirmed on Monday in a post shared on Facebook, noting that the bid to get money from both institutions including China are complex mix by design and deception.

The Nigerian government had before the outbreak of the lingering deadly disease, Coronavirus declared intention to lend $23 billion from China.

Kanu, who is the Director of Radio Biafra noted that people behind the money described as ‘Rogue Rulers’ deceived Nigerians into accepting to lend the money because International Monetary Fund (IMF), African Development Bank (ADF) and World Bank were mentioned to cover-up China, the supposed lenders of alarming volume.

Giving reason why he sued to halt further lending from both banks to Nigeria, Kanu said the loan, which he described as humongous has a clause which represents corruption and usury elements feared by wise nations.

And the structured plan of the expenditure breached the constitutional provisions of the country ranging from the exclusion of South-East which primarily has opposed the process of repayment having all regions present.

Hr maintained that both previous and current loans, including $4.7B from the world bank and $3.4B from ADB, have a tendency of re-looting by cabals, noting that no tangible infrastructure could be seen to ascertain why the further loan should be granted.

Kanu advised that countries affected by the ravaging pandemic, COVID-19 are managing and combating with aids and global goodwill and never the sourcing for loan and Nigeria will not be different.

The letter, which was copied to European Union (EU), State Department, Africa Union (AU), International Monetary Fund (IMF) and World Bank (WB) respectively, noted that Coronavirus is a temporary crisis and does not deserve taking a loan for and the Nigerian authorities do not support small businesses which confirms the present state of poverty boldly written on faces of Nigerians.

 redirect for full text here

 

Comments
Loading comment...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More