Politics
By Anthony Isibor
THE Igbo Board of Deputies, a non governmental organisation, is seeking a court order to exempt the South Eastern States of Nigeria from partaking in the repayment of a $22.7 billion loan issued to the Nigerian government by the China Exim Bank.
The Igbo Board of Deputies is seeking the order because no part of the loan was used in the development of the Igbo States in the South Eastern part of Nigeria.
Okeke Attorneys, a South African-based law firm, in a petition letter, on behalf of the Igbo Board of Deputies, to the China Exim Bank, wondered why the Igbo region would be expected to take part in repaying a loan which it didn’t benefit from.
Realnews reports that the Nigerian Senate in 2020 approved for the loan to be collected by the Federal Government for development and other infrastructural projects in the country but the Southeastern part of the country was not included in projects with which the loan was executed.
According to the letter sighted by Realnews with reference Austin/Igbo Board of Deputies 1/1 dated 10 March 2020, a summary of the $22.7Billion loan allocation by zones showed that while the South West got $200,000,000.00, South South got $4,270,000,000.00, the North West got $6,372,000.000.00, North East got $300,000,000.00, North Central got $6,531,000,000, an $5,853,900,000.00 went to general, the South East received nothing.
The group also accused the Federal Government of Nigeria of violating the Federal Character Principles that is enshrined in the Constitution of Nigeria by exempting the region from partaking in the loan.
Part of the letter entitled: IGBO BOARD OF DEPUTIES VS THE FEDERAL REPUBLIC OF NIGERIA. RE: CHINA EXIM BANK LOAN TO THE FEDERAL GOVERNMENT OF NIGERIA AND MATTERS RELATED THERETO stated:
“Our grievances are based on the fact that the Igbo people have been excluded as beneficiaries of this loan, yet they are expected to participate in the servicing and repayment of same.
“As is evident from the above, anyone of these projects is neither in the South East of Nigeria, nor shall benefit the South East of Nigeria.
“There have been several adverse policies of deprivation and impoverishment directed against the Igbos since the end of the Nigeria Biafra Civil War in 1970. These policies are deliberate, systemic, and sustained; and they come in different guises.
“The above allocation of these loans to the exclusion of the Igbos is indicative of the many other adverse policies of the Nigerian government directed at suppressing the Igbos.
“This and many more is the reason we have decided to bring to your notice of imminent Class Actions, from many other interested parties from all over the world, in relation to the loan transactions with your financial institution.
The Igbo Board of Deputies therefore resolved that the Igbos shall not be participating in the servicing and repayment of these loans, as a matter of principle, fact and law.
“The Igbos shall enforce this position and their resolve within the ambit of both domestic and international laws, unless and until the obligations to repay the loans are tied to the various projects in their various locations. The loan beneficiaries must pay that which they have consumed. Period.
“The Igbos shall not be held liable for these loans, not now and not in the future. We will not mortgage the rights and interests of our future generations for something they neither partook in nor benefited.” is stated.
The letter was copied to The President of Nigeria; the President; Nigerian Senate, the Speaker, Nigerian House of Representatives, the Chief Justice of Nigeria, the Nigerian Finance Minister, the African Development Bank, the World Bank, the China Exim Bank, the Embassy of the People Republic of China, the Embassy of the United States of America, the British High Commission, the South African Department of International Relations and Cooperation, the Embassy of Egypt, and the Embassy of the Federation of Russia, the European Union.
Others who were copied are the United Nations, the African Union, the OECD, the Arab League, the Southern Africa Development and Economic Commission “SADEC”, the Economic Commission of the West African States “ECOWAS”, the East African Economic Developer; the Commonwealth of Nations, the Council of Traditional Leaders in Igboland, Afenifere, South West of Nigeria, PANDEF, Niger Delta of Nigeria, the Middle Belt Movement of Nigeria, Northern Consultative Forum, Ndigbo State, Human Rights Commission of Nigeria, African Human Rights Commission, and the United Nations Human Rights Commission.
Also copied are the European Human Rights Commission, the ASEAN, the Human Rights Commission of the Americas, the G7, the G20, the International Monetary Fund, and the Canadian High Commission, the Embassy of Israel.
The Igbo Board of Deputies are a non governmental organization whose functions and objectives include but not limited to defend, promote and preserve, protect and prosper the rights, cause and interests of Igbo worldwide.
A.I
Aug. 22, 2024
Tags: China Exim Bank
