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Nigeria Is Already Paying China Loans – Amaechi

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Rotimi Amaechi

Rotimi Amaechi

The Minister of Transportation, Mr. Rotimi Amaechi, says Nigeria has already begun repayment of China loans.

The minister made this known when he appeared on a live television programme (Democracy Today) aired on AIT on Saturday.

According to Amaechi, out of the $500m loan the federal government took to build the Abuja-Kaduna rail line, $96m has been paid, adding that Nigeria has capability to pay all the China loans.

“We are paying the loans.

“In the same National Assembly sitting, they were told that the $500million loan, we have paid $96m already.

“Nigeria is already paying and the $500m was not taking by us, it was taken by President Goodluck Jonathan in his term and that clause was there,” he said.

“Anybody that is saying he doesn’t know what a sovereign guarantee or immunity is, too bad for the person, because it simply means in trade that I am not giving you this loan free of charge, just like you go to the bank to collect a loan, the moment you don’t pay they go after your assets you put down.

“That is all about the clause, the Chinese can never come and take over Aso rock and become President or Minister,” he said.

The House of Representatives, during a probe of Chinese loans to Nigeria, had raised the alarm that there are agreements which ceded Nigeria’s sovereign right on the assets financed by the loans to China if there was payment default.

This discovery had sparked reactions among many Nigerians.

Reacting, Amaechi said rhe conditions that Nigeria signed on the loans was approved by the National Assembly, hence the probe was unnecessary.

Read Also: Nigeria Won’t Get Loans From China If You Keep Probing, Amaechi Tells Reps Panel

He stated also that the National assembly was aware and approved the loan, and he would have published the clauses generating the dusts, of not for the issue of confidentiality in government.

“The National Assembly are aware of all these loans.

“We can’t take loan without the National Assembly.

“So, ask why they are investigating?

“The Chinese is just asking us to show them the evidence that we will pay back which is the immunity clause.

“If we don’t pay, they can take back their assets,” he noted.

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Buhari Commissions Oil Refinery To Process 5,000 Barrels A Day

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Buhari Commissions Oil Refinery To Process 5,000 Barrels A Day

Buhari

President Muhammadu Buhari on Tuesday inaugurated a medium-sized refinery in Ibigwe, Imo State.

The Ibigwe refinery will process 5,000 barrels a day, the president said on his Twitter account.

The president launched the refinery online and said work would begin on expanding the plant to produce 50,000 barrels a day.

Also Read: 2020 Finance Bill Exempts Minimum Wage Earners From Tax: Buhari

According to Waltersmith, the refinery has a crude oil storage capacity of 60,000 barrels and is expected to deliver about 271 million litres of refined petroleum products, including diesel, kerosene, heavy fuel oil (HFO), and naphtha, per annum to the domestic market and create both direct and indirect jobs particularly within host communities.

He wrote on Twitter:

 

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Court Revokes Faisal Maina’s Bail For Failure To Attend Trial

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Court Revokes Faisal Maina’s Bail For Failure To Attend Trial

Abdulrasheed Maina son, Faisal

The Federal High Court sitting in Abuja on Tuesday ordered the arrested of Faisal Maina, the son of Abdulrasheed Maina, for jumping bail in his trial on money laundering charges.

Justice Okon Abang who revoked Faisal’s bail ordered that his trial would continue in absentia pending when the security agencies would be able to arrest and produce him in court.

The judge also asked his surety, a member of the House of Representatives, Sani Umar Dangaladima, representing the Kaura-Namoda Federal Constituency of Zamfara State, to appear before the court to show cause why he should not forfeit the N60m bail bond which he signed for Faisal.

Also Read: Alleged Money Laundering: Court Orders Arrest Of Abdulrasheed Maina

At Failsal’s money-laundering trial resumption on Tuesday, the Economic and Financial Crimes Commission’s prosecution counsel, Mohammed Abubakar, told the court that Maina’s son and Hon. Dangaladima both failed to appear in court since June 24, 2020.

Abubakar, therefore, applied the revocation of his bail and his arrest citing section 184 of the Administration of Criminal Justice Act.

The prosecution also applied for the court to order his trial in absentia as provided by 352(4) of ACJA.

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Insecurity: I Don’t See Things Returning To Normal In Northern Nigeria – Omokri

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Insecurity: I Don't See Things Returning To Normal In Northern Nigeria - Omokri

Reno Omokri

Former presidential aide, Reno Omokri has expressed that he is pessimistic about life returning to normal in Northern Nigeria after the Coronavirus pandemic with the increasing insecurity in the nation.

In the past few days, there have been various reports of kidnapping, killing, and attacks by bandits on citizens in the Northern region of the country.

Also Read: Nigerian Army’s account of their involvement in the Lekki Massacre is as straight as Bobrisky’: Omokri

Reacting to the situation, Omokri pointed out that due to the insecurity in the region, he foresees marriages, burials, ceremonies, and even trade being conducted virtually.

He wrote:

“Even after #COVID19, I don’t see things returning to normal in Northern Nigeria. Insecurity is overwhelming. I foresee marriages, burials, ceremonies, and even trade being conducted over zoom. Nobody in Northern Nigeria can safely travel. Absolutely NOBODY.”

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