– Falana has told the FG not to obtain $2bn loan from China – He said the loan will further plunge the nation into more indebtedness. Human right lawyer and Senior Advocate of Nigeria, Femi Falana, has said he will sue the Buhari led federal government should the government obtain $2bn loan from China. Mr Falana said the move “plunging the nation into more indebtedness suggesting that the government should intensify efforts to recover some funds totaling about $200bn which were either not remitted to the Federation Account or stolen from the nation’s treasury. He warned against increasing the nation’s external debt of $64bn asking the government to jettison its plan to take a loan of $2.5bn from the World Bank and $1bn from the African Development Bank.
In a letter addressed to the minister of finance, Mrs Kemi Adeosun, the popular lawyer said: “In the light of the foregoing, we are compelled to call on the Federal Government to muster the political will and courage to recover the aforesaid withheld or stolen wealth of not less than $200bn belonging to the Nigerian people. “However, if you refuse to accede to our request we shall have no alternative than to initiate legal proceedings at the Federal High Court with a view to restraining the Federal Government from further plunging the nation into external indebtedness.” “In particular, we requested the Federal Government to embark on the recovery of the revenue of $42bn withheld from the Federation Account from 1999 to 2012 by some transnational oil companies, the Nigerian National Petroleum Corporation and other agencies of the Federal Government. “In your reply dated March 17, 2016 you assured us that the issues raised in our letter were receiving the attention of the Federal Government.
“We were therefore surprised to learn that the Administration had applied to the Chinese Government for another loan of $2bn. “In urging the Federal Government to desist from taking the loan of $2bn from China or any other country we are compelled to advise the Federal Government to intensify efforts to recover the nation’s wealth which has been criminally diverted by a handful of local and foreign looters,” Falana said in the letter. Meanwhile, Ekiti state governor, Mr Ayodele Fayose has said that the federal government was planning to impose more hardships on Nigerians by increasing Value Added Tax (VAT) from the current five per cent to 10 per cent. Fayose described the move as insensitive to the plight of Nigerians who are suffering from the bad economic policies of the President Mohammadu Buhari led All Progressives Congress (APC) government.

Comedy

More fayose are rising everyday....... The sleeping pill don clear. Welcome to reality nigerians

It's well even when in the well

Taking action after the loan is obtained may not make sense. Learned SAN, I sincerely think a prohibitive injunction should be obtained before the loan is taken. Thanks Dear Learned one for all you are doing for Nigeria.

Why is this man suing people up and down?
I can see where Falz got his comic relief from.

nikkishola:
It's well even when in the well

Have u ever been locked in the well? Try it and knw if it is well in the well.

Many Nigerians are really confused

Advise PYO first to contact himto stop any negotiations to that effect. If he insists, you can use this as additional evidence in your litigation.. Good luck.

But wait o, where are all the so called returned looted funds? The funds are not physical abi na wetin? Apc are a bunch of lying fools I swear

Falana threatens to sue buhari.
Falana threatens to sue Osibanjo
Falana threatens to sue the FG.
Falana threatens to sue GEJ.
Falana threatens to sue EFCC.
Falana threatens to sue APC.
Falana threatens to sue NASS
Falana threatens to sue PDP
Falana threatens to sue EVERYBODY.
.
When will Falana stop threatening, and start sueing all this people,

Pls my people this matter is very serious cus this government want to mortgage our future and that of the unborn generation. if there is no money to fund the budget why not reduce it since the crude oil price has gone down and naira value has decreased? when the price was high last year the budget was 4.something trillion why increasing it now that the price of crude and naira has gone down. and also why borrow when we got 3tr from TSA and some recovered looted money or is it a kind of propaganda by this government?. hmmmmmmm I think this government is a very big scam.

He is right. My problem is not loan. My problem is, if we have recovered so much money, why not begin using that first before borrowing from china of all places. They are set to rule the world in a chinese dynasty fashion. Please where is the money Buhari collected from loots. Yes FALANA should go ahead. IstillStandWithBuhari, but this one is not right. We must know where the loot is and what will be done with it before we begin to borrow.

Buharism:
Falana threatens to sue buhari.
Falana threatens to sue Osibanjo
Falana threatens to sue the FG.
Falana threatens to sue GEJ.
Falana threatens to sue EFCC.
Falana threatens to sue APC.
Falana threatens to sue NASS
Falana threatens to sue PDP
Falana threatens to sue EVERYBODY.
.
When will Falana stop threatening, and start sueing all this people,

No be honest, this one Falana is right. We cannot borrow from China. We do not want Chinese debt please. IMF debt has taken its tole.

garyaustin:
Taking action after the loan is obtained may not make sense. Learned SAN, I sincerely think a prohibitive injunction should be obtained before the loan is taken. Thanks Dear Learned one for all you are doing for Nigeria.

Yes exactly. I don't know why Falana is still talking about it. He should do it immediately.

If APC is planning to turn this country into the APC version of the American Oligarch Slavery System that their citizens are currently chained to, it won't work.

WAIT!!!! Another way to look at this is the American Government again pulling off their manipulative stunts to ensure we do not borrow from the chinese. U know they have been at war for global supremacy.

OR
It is nothing driving us into Chinese debt

In my experience, it is never nothing. Every political action is Antecedent to something. So bros. Jamb Question; Critical thinking.

Pls Mynd44 and other mods in the house this topic need to be moved to the front page so that we all can speak against this move before its too late.

why do I feel cranky about the Chinese loan

falana is right in saying we should draw the zeal in recovering lost funds. yearly the debt has been piling not reducing and the exchange rate is not little thus making future kids placed in ransom for our faults. we should reduce it not raise it.