*Fate of President Buhari’s 22.7b Dollars foreign loan hangs in the
balance as the Federal High Court this morning commenced hearing in Suit
by Opposition Coalition CUPP seeking to quash President Buhari plans to
borrow the controversial 22.7b dollars loan and restrain the foreign
donors from lending Nigeria the fund.*
….Case adjourned to July 1st, 2020
Uncertainty and tension reigned at the Federal High Court as the Court
today started hearing in the two Suits filed by the CUPP Spokesperson
Ikenga Imo Ugochinyere unbehalf of the Opposition(using the Action
Peoples Party APP) against the Federal Government of Nigeria, President
Muhammadu Buhari, Attorney General of the Federation, Export –Import
Bank of Nigeria, African Development Bank, Minister of Finance and the
National Assembly.
The National Assembly had earlier in the week approved another set of
loans for President Muhammadu Buhari in two tranches of $5.5 Billion and
$22.7 Billion Dollars. The Party is contending that the Federal
Government and President Muhammadu Buhari are mortgaging the future of
the country by taking excessive loans and that the distribution of the
$22.7 Billion loan is lopsided since the entire North East and South
East did not get any project included within their geopolitical zones
coupled with the facts that the loan is tied to frivolous/wasteful
projects that will not add any economic value like the 500 million
dollars being planned to be wasted on the upgrade of NTA(Govt television
station)
The judge, Justice Ijeoma Ojukwu has adjourned hearing to the both Suits
to the 1st day of July, 2020
