Nigeria’s House of Representatives members have reportedly just unearthed clauses in a loan collected by the Nigerian Regime from China that concedes the country’s sovereignty to the Asian country.

Chairman of the House Committee on Treaties, Protocol and Accedences, Ossai Nicholas Ossai, raised the alarm while probing loans received by the regime.

The committee noted that the clauses in Article 8(1) of the commercial loan accedence signed between Nigeria and Export-Import Bank of China allegedly concedes sovereignty of Nigeria to China in the $400m loan for the Nigeria National Information and Communication Technology Infrastructure Backbone Phase II Project signed in 2018.

According to a report by ThisDay, the clause in the agreement signed by the Federal Ministry of Finance (borrower) on behalf of Nigeria and the Export-Import Bank of China (lender) on September 5, 2018, provides that, “The borrower hereby irrevocably waives any immunity on the grounds of sovereign or otherwise for itself or its property in connection with any arbitration proceeding pursuant to Article 8(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets.”

Mr Rotimi Amaechi, the Minister of Transportation, urged the House not to investigate the loan being received by the regime, integrating that the probe will jeopardise the chances of the country in getting further loans. He integrated that China was monitoring happenings in Nigeria and the probe will send a negative message to the Asian country about Nigeria.

“But in asking questions on these loans now, it may jeopardise these loans. The Lagos-Ibadan is not completed; the Ibadan-Kano is not completed.

“Let the Government of China not say there is a dissension in the government on this loan and so we will not give this loan.

“So, I appeal to the chairman to give us from now till December when we are likely to secure the loans. Then, from January, February, you can resume this investigation.”

The House of Reps withal evoked the Minister of Communication, Ali Isa Pantani; Minister of Finance, Budget and National planning, Mrs Zainab Ahmed; and Director General of the Debt Management Office, Ms Patience Oniha. These ministers are expected to provide answers on the $500m loan to be sourced from the Export-Import Bank of China for railway lines in the country. They are withal to provide details on the acquiescent signed between the Federal Ministry of Transport and the China Civil Engineering Construction Corporation in respect of some railway projects in the country. The projects involved are the Abuja-Kaduna, Lagos-Ibadan, Ibadan-Kaduna and Kaduna-Kano railways lines.


Source: https://www.gistaroma.com/revealed-the-chinese-government-will-take-over-some-part-of-nigeria-if-loan-cannot-be-repayed/

supercase1:
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Zambia has been re colonised now. Their Airports. Telecoms. Power Electricity taken over. As they defaulted
Now they have stable electricity
Only that some workers work for months without seeing their families
Signpost written in Chinese
Some supermarkets don't allow Zambias because Zambians are classified as "foreigners in their own country"

H

Benbellamor:
Rr

Meaning?

Imagine China annexing Nigeria!

I'll rather be a chinese than continue being Nigerian, please they should come n take over everything

Where is righteousness88 abi 89 what spiritual quote do you have for this development

That will be good news.


It's better China takes over Nigeria. That Clause is a good one.

China has been executing corrupt officials publicly in their country, if they take over Nigeria, then, they(China) may just be our God sent Angel to clean Nigeria of evil corrupt politicians.

Funny enough, they can't.. reason being that Nigeria is quite complex; a country with Multi-State players and intelligent citizens.
I learnt even South Africa and some other African countries have given up their sovereignty to China.

flokii:
Funny enough, they can't.. reason being that Nigeria is quite complex; a country with Multi-State players and intelligent citizens.
I learnt even South Africa and some other African countries have given up their sovereignty to China.

Chinese are very stupid to think they can attempt that with Nigeria by giving thieves loans. E go shock them. They have obviously not done their research. Nigeria is the last place on earth they can annex. They better go and annex the families of the thieves they loaned money to. Those ones will steal their money and they won’t get kobo back.

Benbellamor:
Zambia has been re colonised now. Their Airports. Telecoms. Power Electricity taken over. As they defaulted
Now they have stable electricity
Only that some workers work for months without seeing their families
Signpost written in Chinese
Some supermarkets don't allow Zambias because Zambians are classified as "foreigners in their own country"

I want China to take over Nigeria and possibly sell it off to anyone who is interested in buying.

Let them come fast .

if China takes over Nigeria I'm very sure things can't get worse it'll rather get better. my prayer is that they should also take over governance completely. change our constitution and make it an offense for any political party to field a Nigerian for election so from President to local government executives will be Chinese ppl then they'll make death penalty as punishment for corruption. then we'll Wait and see what Nigeria will become in 20yrs time

Xpol:
if China takes over Nigeria I'm very sure things can't get worse it'll rather get better. my prayer is that they should also take over governance completely. change our constitution and make it an offense for any political party to field a Nigerian for election so from President to local government executives will be Chinese ppl then they'll make death penalty as punishment for corruption. then we'll Wait and see what Nigeria will become in 20yrs time

Sounds quite exciting. I can't wait.

Xpol:
if China takes over Nigeria I'm very sure things can't get worse it'll rather get better. my prayer is that they should also take over governance completely. change our constitution and make it an offense for any political party to field a Nigerian for election so from President to local government executives will be Chinese ppl then they'll make death penalty as punishment for corruption. then we'll Wait and see what Nigeria will become in 20yrs time

They will use boko haram do childs play....Within weeks they'll disappear

Xpol:
my prayer is that they should also take over governance completely. change our constitution and make it an offense for any political party to field a Nigerian for election so from President to local government executives will be Chinese ppl then they'll make death penalty as punishment for corruption.

Na so you hate Nigeria reach
Can't stop laughing since

Xpol:
if China takes over Nigeria I'm very sure things can't get worse it'll rather get better. my prayer is that they should also take over governance completely. change our constitution and make it an offense for any political party to field a Nigerian for election so from President to local government executives will be Chinese ppl then they'll make death penalty as punishment for corruption. then we'll Wait and see what Nigeria will become in 20yrs time

Chai
Your own bad gan
But on a serious note I want them to recolonise us again... With horsewhip


Eliminate anything that moves in the northern desert.

Interesting.

Interesting.

Xpol:
if China takes over Nigeria I'm very sure things can't get worse it'll rather get better. my prayer is that they should also take over governance completely. change our constitution and make it an offense for any political party to field a Nigerian for election so from President to local government executives will be Chinese ppl then they'll make death penalty as punishment for corruption. then we'll Wait and see what Nigeria will become in 20yrs time

Typical black man mentality.

So to you guys, sovereignty waiver in a loan agreement means a foreign creditor can take over the country? Too many illiterates in this country I swear. People who don’t understand something are always the first to offer uninformed opinion. Smh!

seunmsg:
So to you guys, sovereignty waiver in a local agreement means a foreign creditor can take over the country? Too many illiterates in this country I swear. People who don’t understand something are always the first to offer uninformed opinion. Smh!

you are the illiterate here!
You just jump into the topic and Breeze through comments with your eyes and mind closed and start spewing insults

This Clause already signed should worry anyone ,Because Nigeria already sign an undertaken that arbitration courts that could even help out in an event of defaulting should hands off the matter

“The borrower hereby irrevocably waives any immunity on the grounds of sovereign or otherwise for itself or its property in connection with any arbitration proceeding pursuant to Article 8(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets.”

seunmsg:
So to you guys, sovereignty waiver in a local agreement means a foreign creditor can take over the country? Too many illiterates in this country I swear. People who don’t understand something are always the first to offer uninformed opinion. Smh!

.

Lol the same people campaigning for us to P&ID have suddenly become too dull to understand what sovereign immunity is all about. Man this lazy generation is turning out to be a huge embarrassment, despite having Google to make informed comments you still read cringe worthy posts from all manner of people.

Benbellamor:
you are the illiterate here!
You just jump into the topic and Breeze through comments with your eyes and mind closed and start spewing insults

This Clause already signed should worry anyone ,Because Nigeria already sign an undertaken that arbitration courts that could even help out in an event of defaulting should hands off the matter

Unfortunately, you don’t understand what you posted.

Waiving sovereign immunity doesn’t mean a foreign creditor can take over another country. It simply means in case of breach of contract resulting in legal dispute, they can enforce the judgement of the arbitration. Without waiving the immunity, a creditor can hardly enforce judgment against a sovereign country in case of breach of contract. With the waiver, the creditor can take over the collateral that was presented to obtain the loan or seize the country’s assets outside the country to offset the arbitration award. It doesn’t mean they will take over the government of the country.


And in case some of you don’t know, no international investor or lender will invest or give loan to a high risk country like Nigeria for serious infrastructural development without asking for a sovereignty waiver. It is simply suicidal. Again, the sovereignty waiver can only be activated in case of breach of contract and eventual arbitration. If we don’t breach the contract, they cannot seize our assets. It’s thst simple.

China should start her colonization from Lagos to Ondo, but please stay away from Oyo state, we didn't vote for this colossal chaos.




By the time buhari you all shouted everyone down that didn't agree with , is through with Nigeria , (tibushi) will be our case...

Sophisticated morons blinded by hate , and myopism.


The igbos were right about this govt, they rejected wholeheartedly

Benbellamor:
you are the illiterate here!
You just jump into the topic and Breeze through comments with your eyes and mind closed and start spewing insults

This Clause already signed should worry anyone ,Because Nigeria already sign an undertaken that arbitration courts that could even help out in an event of defaulting should hands off the matter

Bro there's no need for insult here, we're not getting ourselves right here.
The clause signed only gives the creditors the power to take over some of the countries assets abroad, in order to recoup it money.

I learnt even South Africa and some other African countries have given up their sovereignty to China. [/quote]

lol..lies

MduZA:

I learnt even South Africa and some other African countries have given up their sovereignty to China.

lol..lies

this looks like lies to you??

[s]

BlackfireX:



China should start her colonization from Lagos to Ondo, but please stay away from Oyo state, we didn't vote for this colossal chaos.




By the time buhari you all shouted everyone down that didn't agree with , is through with Nigeria , (tibushi) will be our case...

Sophisticated morons blinded by hate , and myopism.


The igbos were right about this govt, they rejected wholeheartedly

[/s]

This one would have become Finance minister in nnammdi Cownu beerfraud Republic if Cownu had succeeded, imagine how PMB saved millions of hard working Igbos from such a disaster! If till this moment you cannot figure what waving sovereign immunity is then you truly should donate your school certificate to iya Akara who will definitely put it to better use.

acenazt:
this looks like lies to you??

He desperately needs it to be a lie do he can have sustained crumbs of hate he can live on till 2023