A
abujagirl
Guest
Popular Nigerian lawyer, Femi Falana wants President Muhammadu Buhari to forget about a proposed $29.6 billion loan and use money recovered from the previous administration to grow the economy.
VANGUARD reports that Falana, who spoke while delivering the 4th convocation lecture of Oduduwa University, Ipetumodu, Ile-Ife, titled, ‘The blessings of natural resource endowments and the curse of corrupt leadership: Critical perspectives on Nigeria’s state of the Federal Government’s move underdevelopment’, vehemently opposed the efforts to obtain the loan.
“Curiously, the Buhari administration has failed to address capital flight and round tripping by financial institutions, otherwise why has the government been reluctant to ask EFCC to recover and sanction the oil and shipping companies which under declared the crude oil worth billion of dollars shipped from Nigeria,under the Jonathan administration?
“Why has the Federal Government failed to recover the $20.2billion withheld from the Federation Account by the NNPC and some oil companies from 1999-2012?
“Why has the Federal Government not inquired into the allegation that the sum of $25.4billion was laundered and illegally taken out of Nigeria by a telecommunication company? “Why has the government failed to recover the looted wealth of the nation which has been traced to financial institutions in the west and the United Arab Emirates?”
“Why has the CBN failed to recover the $7Billion deposit and N600billion bailout given to the commercial banks in 2006 and 2008 respectively? Instead of intensifying efforts to recover such huge funds among several others,the government is determined to take a loan of $29.6b,'' Falana added.
VANGUARD reports that Falana, who spoke while delivering the 4th convocation lecture of Oduduwa University, Ipetumodu, Ile-Ife, titled, ‘The blessings of natural resource endowments and the curse of corrupt leadership: Critical perspectives on Nigeria’s state of the Federal Government’s move underdevelopment’, vehemently opposed the efforts to obtain the loan.
“Curiously, the Buhari administration has failed to address capital flight and round tripping by financial institutions, otherwise why has the government been reluctant to ask EFCC to recover and sanction the oil and shipping companies which under declared the crude oil worth billion of dollars shipped from Nigeria,under the Jonathan administration?
“Why has the Federal Government failed to recover the $20.2billion withheld from the Federation Account by the NNPC and some oil companies from 1999-2012?
“Why has the Federal Government not inquired into the allegation that the sum of $25.4billion was laundered and illegally taken out of Nigeria by a telecommunication company? “Why has the government failed to recover the looted wealth of the nation which has been traced to financial institutions in the west and the United Arab Emirates?”
“Why has the CBN failed to recover the $7Billion deposit and N600billion bailout given to the commercial banks in 2006 and 2008 respectively? Instead of intensifying efforts to recover such huge funds among several others,the government is determined to take a loan of $29.6b,'' Falana added.
