China Exim Bank for excluding the five Igbo states from the capital
projects to be funded from a $22.7 billion loan.
The suit, according to a statement, is demanding amongst others that the
China Exim Bank suspend the loan disbursements to the Nigerian
government until an amendment is done to include the South-East region
in the projects.
One of those listed in the petition, Austin Okeke, disclosed that the
group has also petitioned the Economic Community of West African States
Court.
“Be pleased to note that our court action against the Government of
Nigeria, China Exim Bank et al. will be coming up on December 9, 2020,
at the Abuja High Court. This is in respect of the $22.7 billion loan,
the proceeds of which were deliberately deprived of the five Igbo states
of Nigeria,” the statement reads in part.
“On March 11, we delivered a letter of demand to China Exim Bank in
Johannesburg, calling upon it to give an undertaking in the following
manner.
“Suspend the loan disbursement, alternatively, cancel the approval of
the loan to the Nigerian government until it has revised or amended the
manner it intends to allocate the proceeds of the loan to include
projects in the South East of Nigeria, which projects shall directly
benefit the Igbos; and;
“As a condition, tie the loan repayment to the regions of Nigeria that
inherit the projects, as Nigeria flounders and threatens to break up,”
Okeke said.
He, however, urged the Chinese government to ensure transparency in its
funding of capital projects in Nigeria.
“In going forward, the Chinese government must ensure that all projects
are valued and open bid for, following international best practices to
ensure standard quality and fair cost. The present Nigerian government
is prone to project cost inflation, and future generations are not
obligated to pay for fraudulently inflated prices. Failing which we
shall join China Exim Bank as a Defendant party to the lawsuit against
the Government of Nigeria.
“We say so because we do not guarantee the repayment of these loans by
the other federating units of Nigeria in so far as the deliberate
discrimination against the Igbos in Nigeria persists.
“The Igbos are not beneficiaries of the proceeds of the loan, and shall
not participate in servicing and repayment of the same as a matter of
principle, fact and law.
“The Igbos shall not be held liable for these loans, not now and in the
future. We will not mortgage the rights and interests of our future
generations for something they neither partook in nor benefited.”