Afenifere, pan-Yoruba sociopolitical group, While reacting to reports that Buhari Government had signed a loan agreement with the Asian country which contains a clause saying Nigeria will waive immunity for itself or its property in case of a breach of agreement, says it will not watch while the Federal Government cedes any part of Yoruba land to its creditors, China.
They 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,” Yinka Odumakin, the group’s spokesman said.
The controversial clause in the agreement says: “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.”
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