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Nairaland Forum / Nairaland / General / Politics / Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed (3855 Views)
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Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Antell95(m): 10:09am On Jul 30, 2020 |
Nigeria’s House of Representatives members have reportedly just unearthed clauses in a loan collected by the Nigerian Regime from China that concedes the country’s sovereignty to the Asian country. Chairman of the House Committee on Treaties, Protocol and Accedences, Ossai Nicholas Ossai, raised the alarm while probing loans received by the regime. The committee noted that the clauses in Article 8(1) of the commercial loan accedence signed between Nigeria and Export-Import Bank of China allegedly concedes sovereignty of Nigeria to China in the $400m loan for the Nigeria National Information and Communication Technology Infrastructure Backbone Phase II Project signed in 2018. According to a report by ThisDay, the clause in the agreement signed by the Federal Ministry of Finance (borrower) on behalf of Nigeria and the Export-Import Bank of China (lender) on September 5, 2018, provides that, “The borrower hereby irrevocably waives any immunity on the grounds of sovereign or otherwise for itself or its property in connection with any arbitration proceeding pursuant to Article 8(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets.” Mr Rotimi Amaechi, the Minister of Transportation, urged the House not to investigate the loan being received by the regime, integrating that the probe will jeopardise the chances of the country in getting further loans. He integrated that China was monitoring happenings in Nigeria and the probe will send a negative message to the Asian country about Nigeria. “But in asking questions on these loans now, it may jeopardise these loans. The Lagos-Ibadan is not completed; the Ibadan-Kano is not completed. “Let the Government of China not say there is a dissension in the government on this loan and so we will not give this loan. “So, I appeal to the chairman to give us from now till December when we are likely to secure the loans. Then, from January, February, you can resume this investigation.” The House of Reps withal evoked the Minister of Communication, Ali Isa Pantani; Minister of Finance, Budget and National planning, Mrs Zainab Ahmed; and Director General of the Debt Management Office, Ms Patience Oniha. These ministers are expected to provide answers on the $500m loan to be sourced from the Export-Import Bank of China for railway lines in the country. They are withal to provide details on the acquiescent signed between the Federal Ministry of Transport and the China Civil Engineering Construction Corporation in respect of some railway projects in the country. The projects involved are the Abuja-Kaduna, Lagos-Ibadan, Ibadan-Kaduna and Kaduna-Kano railways lines. Source: https://www.gistaroma.com/revealed-the-chinese-government-will-take-over-some-part-of-nigeria-if-loan-cannot-be-repayed/
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Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Antell95(m): 10:11am On Jul 30, 2020 |
supercase1: ![]() 1 Like |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Benbellamor: 10:12am On Jul 30, 2020 |
Zambia has been re colonised now. Their Airports. Telecoms. Power Electricity taken over. As they defaulted Now they have stable electricity Only that some workers work for months without seeing their families Signpost written in Chinese Some supermarkets don't allow Zambias because Zambians are classified as "foreigners in their own country" 29 Likes 1 Share |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by funmike83(f): 10:14am On Jul 30, 2020 |
H |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Antell95(m): 10:14am On Jul 30, 2020 |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Antell95(m): 10:15am On Jul 30, 2020 |
Imagine China annexing Nigeria! ![]() ![]() ![]() ![]() I'll rather be a chinese than continue being Nigerian, please they should come n take over everything 11 Likes |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by marveangel(m): 10:36am On Jul 30, 2020 |
Where is righteousness88 abi 89 what spiritual quote do you have for this development 12 Likes 1 Share
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Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by LabuleofNigeria: 10:40am On Jul 30, 2020 |
Good news in-veiw. Abeg, let them take-over sharp sharp. Tell Buhari to borrow well |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by RichBoy247: 11:11am On Jul 30, 2020 |
That will be good news. It's better China takes over Nigeria. That Clause is a good one. China has been executing corrupt officials publicly in their country, if they take over Nigeria, then, they(China) may just be our God sent Angel to clean Nigeria of evil corrupt politicians. 9 Likes 2 Shares |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by flokii: 11:19am On Jul 30, 2020 |
Funny enough, they can't.. reason being that Nigeria is quite complex; a country with Multi-State players and intelligent citizens. I learnt even South Africa and some other African countries have given up their sovereignty to China. 3 Likes |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by baby124: 11:30am On Jul 30, 2020 |
flokii:Chinese are very stupid to think they can attempt that with Nigeria by giving thieves loans. E go shock them. They have obviously not done their research. Nigeria is the last place on earth they can annex. They better go and annex the families of the thieves they loaned money to. Those ones will steal their money and they won’t get kobo back. 3 Likes |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by achierosion(m): 11:37am On Jul 30, 2020 |
Benbellamor:I want China to take over Nigeria and possibly sell it off to anyone who is interested in buying. Let them come fast . 1 Like |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Xpol: 11:50am On Jul 30, 2020 |
if China takes over Nigeria I'm very sure things can't get worse it'll rather get better. my prayer is that they should also take over governance completely. change our constitution and make it an offense for any political party to field a Nigerian for election so from President to local government executives will be Chinese ppl then they'll make death penalty as punishment for corruption. then we'll Wait and see what Nigeria will become in 20yrs time 1 Like |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Barryseal: 12:03pm On Jul 30, 2020 |
Xpol: Sounds quite exciting. I can't wait. 4 Likes |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Benbellamor: 12:03pm On Jul 30, 2020 |
Xpol:They will use boko haram do childs play....Within weeks they'll disappear |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Benbellamor: 12:06pm On Jul 30, 2020 |
Xpol: Na so you hate Nigeria reach Can't stop laughing since |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by achierosion(m): 12:24pm On Jul 30, 2020 |
Xpol:Chai ![]() Your own bad gan But on a serious note I want them to recolonise us again... With horsewhip ![]() Eliminate anything that moves in the northern desert. 2 Likes |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by NaijirianKing: 12:30pm On Jul 30, 2020 |
Interesting. |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by NaijirianKing: 12:37pm On Jul 30, 2020 |
Interesting. |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by mcbreeze: 1:06pm On Jul 30, 2020 |
Xpol: Typical black man mentality. 4 Likes |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by seunmsg(m): 1:18pm On Jul 30, 2020 |
So to you guys, sovereignty waiver in a loan agreement means a foreign creditor can take over the country? Too many illiterates in this country I swear. People who don’t understand something are always the first to offer uninformed opinion. Smh! 2 Likes 1 Share |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Benbellamor: 1:23pm On Jul 30, 2020 |
seunmsg:you are the illiterate here! You just jump into the topic and Breeze through comments with your eyes and mind closed and start spewing insults This Clause already signed should worry anyone ,Because Nigeria already sign an undertaken that arbitration courts that could even help out in an event of defaulting should hands off the matter “The borrower hereby irrevocably waives any immunity on the grounds of sovereign or otherwise for itself or its property in connection with any arbitration proceeding pursuant to Article 8(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets.” |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Antell95(m): 1:25pm On Jul 30, 2020 |
seunmsg: . |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Stalwert: 1:29pm On Jul 30, 2020 |
Lol the same people campaigning for us to P&ID have suddenly become too dull to understand what sovereign immunity is all about. Man this lazy generation is turning out to be a huge embarrassment, despite having Google to make informed comments you still read cringe worthy posts from all manner of people. |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by seunmsg(m): 1:54pm On Jul 30, 2020 |
Benbellamor: Unfortunately, you don’t understand what you posted. Waiving sovereign immunity doesn’t mean a foreign creditor can take over another country. It simply means in case of breach of contract resulting in legal dispute, they can enforce the judgement of the arbitration. Without waiving the immunity, a creditor can hardly enforce judgment against a sovereign country in case of breach of contract. With the waiver, the creditor can take over the collateral that was presented to obtain the loan or seize the country’s assets outside the country to offset the arbitration award. It doesn’t mean they will take over the government of the country. And in case some of you don’t know, no international investor or lender will invest or give loan to a high risk country like Nigeria for serious infrastructural development without asking for a sovereignty waiver. It is simply suicidal. Again, the sovereignty waiver can only be activated in case of breach of contract and eventual arbitration. If we don’t breach the contract, they cannot seize our assets. It’s thst simple. 2 Likes |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by BlackfireX: 2:01pm On Jul 30, 2020 |
![]() China should start her colonization from Lagos to Ondo, but please stay away from Oyo state, we didn't vote for this colossal chaos. By the time buhari you all shouted everyone down that didn't agree with , is through with Nigeria , (tibushi) will be our case... Sophisticated morons blinded by hate , and myopism. The igbos were right about this govt, they rejected wholeheartedly |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by SaintBeehot(m): 2:05pm On Jul 30, 2020 |
Benbellamor:Bro there's no need for insult here, we're not getting ourselves right here. The clause signed only gives the creditors the power to take over some of the countries assets abroad, in order to recoup it money. 1 Like |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by MduZA: 2:43pm On Jul 30, 2020 |
I learnt even South Africa and some other African countries have given up their sovereignty to China. [/quote] lol..lies |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by acenazt: 2:50pm On Jul 30, 2020 |
MduZA:this looks like lies to you?? 1 Like
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Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Stalwert: 3:01pm On Jul 30, 2020 |
[s] BlackfireX:[/s] This one would have become Finance minister in nnammdi Cownu beerfraud Republic if Cownu had succeeded, imagine how PMB saved millions of hard working Igbos from such a disaster! If till this moment you cannot figure what waving sovereign immunity is then you truly should donate your school certificate to iya Akara who will definitely put it to better use. 2 Likes 1 Share |
Re: Chinese Government To Take Over part of Nigeria If Pending Loan Can't Be Repayed by Stalwert: 3:02pm On Jul 30, 2020 |
acenazt:He desperately needs it to be a lie do he can have sustained crumbs of hate he can live on till 2023 |
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