Lawyer advises FG against World Bank loan

Falana in a letter to the minister of finance, Mrs. Kemi Adeosun said the International Monetary Fund will impose harsh conditions on the Government before the loan is approved.

• Chika Ebuzor

play Human Rights Activist, Femi Falana
(Nigerian Current) 

 

Senior Advocate of Nigeria and Human rights lawyer, Femi Falana, has asked the Federal Government not to take any loan from the World Bank.

Falana in a letter to the minister of finance, Mrs. Kemi Adeosun said the International Monetary Fund will impose harsh conditions on the Government before the loan is approved.

Punch reports that the Senior Advocate of Nigeria said “From the foregoing, you will agree with us that the hapless Nigerian people should not be made to pay for the gross mismanagement of the national economy by the Federal Government and the profligacy of the pampered members of the ruling class.

“Instead of taking a loan of $2.5bn with dangerous conditionalities from the World Bank, the Federal Government should recover the aforesaid loans and revenues of not less than $66.5bn with the assistance of the anti-graft agencies.”

Adding that “While acknowledging the concerted efforts to recover the looted wealth of the nation through the anti-graft agencies and the Arms Procurement Panel, the Buhari Administration should embark on the immediate recovery of the aforesaid loans and accrued revenues with a view to financing the 2016 budget and the infrastructural development of the nation.”

Fala has also called on the Senate President, Bukola Saraki to resign, following the Supreme Court ruling, giving way for his trial by the Code of Conduct Tribuna

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