Reps member claims Nigerian officials signing loan documents in Chinese language

Reps member claims Nigerian officials signing loan documents in Chinese language

- House of Reps member, Ben Ibakpa, said the federal government does not carry the National Assembly along when taking loans from China

- Ibakpa also claimed that some Nigerian officials sign loan documents in the Chinese language without critically looking at the terms

- The lawmaker who represents Ethiope Federal Constituency, however, said the National Assembly will start playing more active roles in the loan procurement process

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A member of the House of Representatives, Ben Ibakpa, has accused the federal government of sidelining the National Assembly when it is taking loans from China.

Ibakpa made the allegation on Thursday, May 14, while appearing as a guest on Channels Television.

The lawmaker who represents Ethiope Federal Constituency further claimed that some Nigerian officials sign loan documents from China in the Chinese language without critically looking at the terms.

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Reps member claims Nigerian officials signing loan documents in Chinese language

Reps member claims Nigerian officials signing loan documents in Chinese language. Photo credit: House of Reps
Source: Twitter

Ibakpa said that the loans are obtained via the China Civil Engineering Construction Corporation (CCECC). According to him, the loans are overpriced.

His words: “The National Assembly is kept in the dark in all these loans. The National Assembly is not part of it."

The lawmaker, however, said the National Assembly will start playing more active roles when the country wants to take loans from China.

He called on the Muhammadu Buhari-led administration which campaigned with an anti-corruption mantra to do better, saying corruption is fueled by awarding of contracts.

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Earlier, Legit.ng reported that the Senate had resolved to give accelerated approval to President Buhari’s request to raise a fresh loan of N850 billion from the domestic capital market to fund projects in the 2020 budget.

President Buhari's request was contained in a presidential memo read by the president of the Senate, Ahmad Lawan, on the floor of the Senate on Tuesday, April 28.

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After the letter was read, the lawmakers gave accelerated approval to the president’s request to raise the loan.

The upper chamber also mandated it’s Finance and Appropriation Committees to liaise with the minister of finance, budget and national planning, Zainab Ahmed, to obtain more details of the loan request.

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Source: Legit.ng

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