in

Probing Loans Taken By Nigerian Government Can Scare Away Foreign Investors – Rotimi Amaechi

Rotimi Amaechi don’t want House of Reps to continue its ongoing investigations into loans taken by the federal government.

The Minister of Transportation, Rotimi Amechi has said that the ongoing investigations of loans taken by the Federal Government could send the wrong signal to the lenders,

Probing Loans Taken By Nigerian Government Can Scare Away Foreign Investors – Rotimi Amaechi 1

Mr Amaechi stated this during an investigative hearing organised by the House of Representatives Committee on Treaties, Protocols and Agreements in Abuja.

He said the investigation could cause foreign partners to withdraw such loan facilities which would have a negative effect on Nigeria’s infrastructural development.

The minister said that he has raised the concerns over the ongoing investigation with the Speaker of the House, Femi Gbajabimila.

Mr Amaechi explained that the hearing could stop the loan facility the Federal Government ”is seeking for the completion of the Lagos-Ibadan and Kano rail projects”.

READ ALSO
"All Nigerian Politicians Are Into Charms, We All Patronise Black Powers" - Lagos Lawmaker

He, however, recommended that the hearing should be shifted to December when the loan facility would have been acquired.

The Chairman of the committee, Nicholas Ossai (PDP-Delta) said the committee is empowered to conduct overnight before, during or after loan facilities are acquired.

He said the committee seeks to review all Nigeria’s bilateral loan agreement to ensure the country is not shortchanged. (NAN)

KanyiDaily recalls that the House of Reps had recently concluded its investigation on the alleged mismanagement of N81.5 billion by the Niger Delta Development Commission (NDDC), th3 House aslo

The House has also ordered investigation into the alleged misappropriation of N100 billion at the North East Development Commission (NEDC).

READ ALSO
My Road to ‘Orange Is the New Black’ - Uzoamaka Aduba

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Governor Sanwo-Olu Requests To Meet Little Boy Who Asked His Mom To ‘Calm Down’ In Viral Video 27

Governor Sanwo-Olu Requests To Meet Little Boy Who Asked His Mom To ‘Calm Down’ In Viral Video

"106 In Lagos, 54 In Abuja" - Nigeria Confirms 404 New Coronavirus Cases As Total Hits 42,208 28

“106 In Lagos, 54 In Abuja” – Nigeria Confirms 404 New Coronavirus Cases As Total Hits 42,208