A Senior Advocate of Nigeria, Femi Falana, said if President Muhammadu Buhari was serious about fighting corruption, he [Buhari] would not mortgage the future of the country by seeking a $29.9bn loan. Ever since the economy fell into recession primarily as a result of a significant drop in oil prices, the Federal Government has been looking for ways to get the economy back on track, including its recent application for a $29.9bn loan from external sources.
Though the Senate rejected the loan application on Tuesday, the Minister of Information and Culture, Alhaji Lai Mohammed, said the President would resubmit the request to borrow the money.
However, Falana said Buhari should stop chasing after the loan, but rather engage in an aggressive recovery of looted funds stashed away in foreign banks by past military rulers in the country.
The lawyer said this at a symposium tagged: “X-raying 50 years of military intervention in Nigeria’s politics”, organised by the Department of Political Science, University of Lagos.