I’m ashamed people misinterpret ‘waiving sovereignty’ in $500m Chinese loan, says Amaechi


Source: yoobaagenda.com

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Oluwaseun Ogunniyi 41 mins ago Minister of Transportation, Rotimi Amaechi, has said he is ashamed that some people can’t understand that the clause ‘waiving sovereignty’ in the loan agreement between Nigeria and China is only a contract term, a sovereign guarantee that assures payback according to the terms and conditions of any loan. Amaechi made the clarification while answering questions about the loan controversy on a TV programme, weekend. He also explained that the Ministry of Transportation is not responsible for taking loans, but to implement the project or contract for which the loans were taken. According to him, “it...