Stanley Uzoaru, Owerri
Leader of the Indigenous People of Biafra (IPOB) Nnamdi Kanu has written a strong-worded letter to the International Monetary Fund (IMF) Africa, Africa Development Bank (ADB) and the World Bank not to grant the country’s request for a loan it claimed to tackle the Coronavirus pandemic.
The letter which was issued to newsmen in Owerri yesterday through the media and publicity secretary of the group, Emma Powerful also noted that the group had earlier opposed a loan from China because it excluded the southeast from benefitting from it.
Powerful stated further that they can not vouch for the country repaying the loans , claiming that it breaches the country’s constitution if not judiciously disbursed.
On that ground, he claimed that the group is kicking against the loans from foreign countries and banks.
According to the statement “It’s noteworthy that the Indigenous People of Biafra was on the frontline of rallying a groundswell of opposition to the loan, especially because of its proposed expenditure plan that excluded the Southeast part of Nigeria – in flagrant breach of Nigeria’s Constitution.
” We were concerned that any foreign loan obtained in breach of the organic law of Nigeria would provoke a political/legal backlash that will complicate its repayment. And with the COVID-19 pandemic, contemporaneously diverting the attention of the world ,including China, the loan seems to be on hold for now. That is well and good.
“But so soon after, Nigeria is at it again. This time, there are credible reports that it wants to take another loan from the IMF & AfDB. This is after the $2.2B it borrowed from the World Bank in February this year, which Nigeria falsely claimed was for ‘immunization and job creation’, when in fact the money was shared out to the regime’s cronies.”
Further arguing on the intention of the Federal Government to judiciously plunge the loan to tackling the COVID-19 pandemic, Kanu said “Who takes loans to fight COVID-19, you don’t need loans to fight a pandemic, you instead need aid and global goodwill, and that’s what all countries in need have relied on throughout history.
“The pandemic is not permanent to the point of requiring loans. And for the vaunted ‘assistance to the poor and small businesses’, Nigerians are well aware that this never happens.
“Loans are meant to be repaid. The lenders may mean well but Nigeria’s leaders don’t. They won’t pay back these loans and you can take that to the bank.” Kanu claimed.