Home Nigeria Chinese loan: Reps to grill Malami, Ahmed Tuesday

Chinese loan: Reps to grill Malami, Ahmed Tuesday

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Chinese loans: Reps to grill Malami, Ahmed Tuesday
Chinese loans: Reps to grill Malami, Ahmed Tuesday

By Ndubuisi Orji, Sun News

The House of Representatives Committee on Treaties. Agreements and Protocol is to grill the Minister of Justice and Attorney General of the Federation (AGF),  Abubakar Malami,  next Tuesday,  over issues relating to Chinese loan agreements.

The committee,  which is investigating $400 million loan secured by the government from China,  had raised concerns over some clauses which allegedy affects the sovereignty of the country,  if the government defaults in repaying the loans.

The panel had adjourned proceeding for one week on Tuesday,  saying  the AGF and Minister of Finance,  Zaniab Ahmed,  must be present  before it continued with its investigative hearing.

Daily Sun gathered that Malami and Ahmed would  be responding to queries on the review and implementation programme of all existing bilateral loan agreements between Nigeria and Chinese Export-Import Bank, and other loans sourced from China to finance the Lagos-Ibadan rail line and other projects.

The letters summoning the two ministers, which was dated August 18, and signed by the chairman of the committee,  Ossai Nicholas Ossai requested them to ensure they are present at the committee hearing next Tuesday.

Malami ‘s letter with  reference no: NASS/9HR/CT.102/04 requested him to furnish the committee “official documents of the Power of attorney for signing the loans as prescribed in appendix 3 of the loan agreements, certified  official copies of the legal opinion given on all facilities as prescribed in appendix 6 of the loans agreements.”

Besides,  the AGF is expected  to provide  official documents of the power of attorney for the appointment of the borrowers process agent on all loan agreements as prescribed in appendix 7 as well as official confirmation letter by the appointed borrowers’ process agents pres ribed in appendix 8 of the Chinese loan agreements.

While Ahmed is to provide “All certified official documents of conditions precedent for each drawdown after the first drawdown as required in appendix 2 of the loan agreements.”

“Official documents of the power of attorney for signing the loans  as prescribed in appendix 3 of the loan agreements.

“Official documents of power of Attorney for drawdowns as prescribed in appendix 4 of the Chinese loan agreements.

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