LEDAP drags FG, NASS to court over $7.9bn loan

on   /   in News 12:55 am   /   Comments

By Innocent Anaba

Legal Defence and Assistance Project, LEDAP, has asked a Federal High Court sitting in Abuja, to restrain the National Assembly from considering and/or approving the request by the Federal Government to borrow $7.9 billion from international credit agencies, contending that the proposed loan was unnecessary and not in the interest of Nigerians.

Defendants in the suit are the Attorney-General of the Federation, Minister of Finance, President of Senate and Speaker of the House of Representatives.

Members of the Red Chamber and President Jonathan

Members of the Red Chamber and President Jonathan

Legal Defence and Assistance Project, a civil society group, is asking the court to determine whether the resolution of the Federal Government and subsequent approach to the National Assembly for an approval to borrow $7.9 billion from international credit agencies, after paying back a similar loan of $36 billion recently, did not conflict with the Federal Government’s obligation under chapter 11 of the 1999 Constitution to uphold and provide good governance to Nigerian people, and contrary to the oaths of allegiance and office taken by the President on assumption of office?

Whether any step and or action to be taken by National Assembly towards facilitating the proposed borrowing by the Federal Government will not be against the public interest of Nigerian citizens and in direct contravention of their oath of allegiance and oath offices taken under the 1999 Constitution (as amended)?

It is consequently asking the court to restrain the President by himself or through the National Assembly and Finance Minister or any other agency of the Federal Government to borrow any money from any foreign credit agent(s).

It also asking the court to restrain the National Assembly from embarking on any deliberation, consideration and/or approving any request by the Federal Government or through any of its agencies to borrow money or obtain any loan from any foreign credit agent(s).

    Print       Email