Senator Adeyemi Faults FG’s $800m Loan Request, Urge President-Elect to Seek Debt Forgiveness

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Senator Representing Kogi West in the 9th National Assembly that is winding down, Smart Adeyemi has urged the President Elect, Asiwaju Bola Tinubu, to champion the cause of debt forgiveness for third world countries

He said Nigeris should not be allowed to collapse because of debts the money of which was embezzled.

He also urged the creditor nations abroad to as a matter of necessity forgive the debts since most of the debts were stolen by leaders who later stashed the monies in their countries, adding that with the global economic recession Nigeria can not pay the debts any longer.

Speaking to newsmen at in Abuja on Wednesday, Adeyemi said he is opposed to the country taking further loans as he faulted the recent loan request of $800million by President Buhari.

“There is nothing bad in saying no to repayment of debts. With the economic recession we cannot pay, you know why we can not pay, in the last 10 years, Europe should look at the capital flows from Africa to their nation.

“Let them probe all the monies that came from African nations as a good percentage of these monies were stolen money. So let them take their loans from the money that has been stashed in their nations. 

“Don’t allow the poor to pay for the sin of the rich. For me African nations should start to ask for debt forgiveness, we can’t pay, we don’t have the means to pay, they should write it off and with your support it will be possible, African nations must team up. Developing nations must team up to tell Asia, Europe and America that we can no longer pay any foreign debts.

“The loans that we have taken is enough. African nations should rise up, we can not pay.‘’

“We would not allow our people to die, the populace should not die for loans that have been taken that some are inexplicable,” he said.

Adeyemi faulted the new loan request by President Muhammadu Buhari

“For me the $800m they are asking for, personally I don’t think it is going to fly in the National Assembly as we are about to wind down, National Assembly will not support any new loan I don’t think so. If it happens I will not support it,” he added.

On the issue of the Naira redesign policy that crumbled after Nigerians were subjected to untold hardships, the Senator blamed opposition Peoples Democratic Party (PDP) for the policy.

When reminded that it was the ruling party, All Progressives Congress’ policy, he said “when APC was shouting that redesigning of the currency was meant to bring down the economy and to discredit the APC, but the PDP under Atiku Abubarkar were in support of the CBN’s evil design.”

He defended President Muhammad Buhari saying as a leader “people can come and package a program for you, you may not even get the details of what they want to do. 

“When Emefiele announced the redesigning of the currency he told us that in 6 months there will be enough currency notes in circulation. I want to ask was there enough currency in circulation? People could not get their monies, even the old notes were not available. 

“I am above partisan politics, but on the floor I have been critical of APC when some people were asking whether I am still a member of the APC? I don’t play partisan politics with issues that affect Nigerians because the people come first. I will not support APC when I see anything that is bad.

“There are many things I said about our party that I don’t regret because I wanted them to get it right. If the redesigning of the currency is for the economic advancement of Nigeria before you announced it you will know you have more than the 3/4 of what you require to be injected into the circulation. 

“Even the old note were not available. It took the Supreme Court to compel the release of the old notes.”

 He berated the Central Bank of Nigeria (CBN) governor, Godwin Emefiele, accusing him of coming to cripple the economy and crumble the nation.

He said,  “Already people had started attacking banks, the next thing would have been to start attacking individuals there would have been anarchy, that was the intention of the opposition. 

“Go and check the utterances of all these people in PDP they were supporting the policy and why were they supporting the policy. In an ideal society, Emiefiele would have resigned since. 

“A man who aspired to be President under APC, bought his form and when he did not get it he shifted loyalty. PDP now brought a cousin of his as running mate, so what did you expect him to do. 

“All these policies were put in place to make it impossible for APC to win but you see the Bible says, nobody takes any honor upon himself except that who has been chosen such as of Aaron.”


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