The House of Representatives has raised the alarm over loan agreements being entered into by the Federal Government with China.
According to the lawmakers, Nigeria will concede some of its sovereignty if the country defaults in the repayment plan.
He said this might lead to abandonment of ongoing projects if the Asian country calls off the agreement. The committee specifically cited Article 8 of the agreement, which states 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, thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets.’
Responding, Amaechi however disagreed with Ossai, saying the Federal Government could not be sending all its international deals to the lawmakers for scrutiny before they are signed.
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