Pan-Yoruba socio-political group, Afenifere, on Friday maintained that they will not cede any inch of Yoruba land to creditors of the Federal Government should there be whatsoever reasons for them to make such claims.
This was in reaction to widespread reports that the Federal Government had agreed with the Chinese government, to waive its immunity or its property to China, in case of a breach of the repayment contract.
This contained in a statement by its spokesperson, Mr Yinka Odumakin, describing as unsensible, the clause in a loan agreement, signed by the President Muhammadu Buhari-led government, ceding the sovereignty of Nigeria and its assets, if the nation defaults in payment.
He said: “The Yoruba nation will not allow an inch of its land to be taken over by any foreign interest to which any government that is loan-crazy must have concessioned the sovereignty.
“We are not aware of any such authority given to any government to do such. Let lenders beware so they don’t give loans beyond what any regime can repay in its tenure.”
The clause in the contract causing controversy 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(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets.”
