A Loan Document giving China Sovereignty Over Nigeria has just been uncovered

A Loan Document giving China Sovereignty Over Nigeria has just been uncovered

The fresh revelation regarding the various loans that the Nigerian government has been collecting from China has it that part of the agreement was Nigeria conceding its sovereignty to China for a $400m loan for the Nigeria National Information and Communication Technology Infrastructure Backbone Phase II Project signed in 2018.

According to Sahar Reporters, members of Nigeria’s House of Representatives have uncovered clauses in a loan collected by the Nigerian Government from China that concedes the country’s sovereignty to the Asian country.

Chairman of the House Committee on Treaties, Protocol and Agreements, Ossai Nicholas Ossai, raised the alarm while probing loans received by the federal government.

The committee noted that the clauses in Article 8(1) of the commercial loan agreement 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.

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According to a report by ThisDay, the controversial clause in the agreement signed by 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.”

The funny aspect is that the minister of transport has begged the committee not to probe the loans received by the federal government now as it may jeopardize the Nigerian givernment’s effort to secure new loans from the Chinese government.

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