Reps Fault Chinese Loan Terms, as FG Confirms Sovereignty Clause
The House of Representatives has frowned at the sovereignty clause in Nigeria’s loan agreement with China, describing it as dangerous.
Nicholas Ossai, Chairman of the House Committee on Treaties, Protocols and Agreements stated this at the investigative hearing on external loans and commercial agreements, saying Nigeria’s loan agreement with China was overseen by Chinese laws.
He said Nigerian officials have been going against the Executive Order providing guidelines on waiver of sovereign immunity during loan and commercial agreement negotiations which the Federal Government signed in 2014.
Ossai in his remarks, noted that the controversial clauses and agreements preceded the President Muhammadu Buhari’s administration. He also said that the inquiry was not about the All Progress...