Malema cautions African Nations against ‘debt trap’ loans from World Bank, IMF

…Justice increasingly becoming purchasable commodity in Nigeria — Sultan 

…Justice sector reform cornerstone of our administration – Mbah 

South African opposition leader, Julius Malema, has cautioned the African continent against loans from Brentwood organisations and others, warning that such moves can undermine Africa.

Malema, who handed down the caution in his keynote speech on Sunday at the opening of the 2025 Annual General Conference (AGC) of the Nigerian Bar Association (NBA), holding at the International Conference Centre, Enugu, said such loans, which he described as “a debt trap,” can mortgage the future of the continent.

“The debt trap of Africa to our foreign colonisers must be stopped, and that begins by regulating these loans that our leaders commit future generations to, because they will not be there when the colonisers come to collect,” Malema told the gathering.

The President of South Africa’s Economic Freedom Fighters said the South African parliament is making a move to checkmate loans from these institutions, adding that “The Public Finance Management Amendment Bill will in South Africa deal with a problem facing the whole continent, and that is the unregulated borrowing of money by our governments from the World Bank and the International Monetary Fund (IMF).

“This bill, which we have introduced as the EFF, will require that the National Treasury in South Africa first seek approval from Parliament to source foreign loans and establish transparency regarding such loans and their conditionalities,” the EFF leader said.

His comments followed growing concerns over rising debts by African nations, including Nigeria, Ethiopia, among others.

Malema equally hailed Nigeria for its support of South Africa during its apartheid struggle, proposing that such a bond should be strengthened.

“Combined, we possess the minerals that power modern technology, the energy resources that fuel global industry, and the human capital to build a self-sufficient continent.

“The path forward is clear: Nigeria and South Africa must industrialise together, build factories together, and process our resources on African soil,” he said.

He believes the continent’s “salvation” lies within and will not “come from Washington, London, Brussels, or Beijing.

“Our salvation lies here, in Lagos and Johannesburg, in Abuja and Pretoria, in the hands of Africans who refuse to be divided,” the firebrand South African politician told the thousands of lawyers and other dignitaries at the event,” he said.

In his speech, the Sultan of Sokoto and Chairman of the Northern Traditional Rulers Council, Muhammad Sa’ad Abubakar III, warned that justice in Nigeria is increasingly becoming a “purchasable commodity,” where the poor are victims and the rich evade accountability.

The Sultan, who cautioned that the integrity of the judicial system is being undermined by corruption and inequality, said, “Today, justice is increasingly becoming a purchasable commodity, and the poor are becoming victims of this kind of justice, while the rich commit all manner of crime and walk the streets scot-free”.

He, however, commended the NBA for choosing the theme “Stand Out and Stand Tall”, saying it aligns with the urgent need for lawyers to deliver on their professional mandate.

According to him, the legal profession must remain committed to upholding the rule of law to ensure fairness, accountability, and equality before the law.

“You are resolving to uphold the highest principles of the rule of law to ensure that everyone, including those in power, is subject to and accountable under the law. If we are able to do this, we would have addressed the core of the crisis of governance in this country,” he stated.

The Sultan stressed that justice is the foundation of stable societies and that law must always target justice as its ultimate goal, and urged participants to use the conference to address critical issues shaping Nigeria’s future.

“This conference, I hope, will also give you the time to address issues that are pertinent to the future of our society. Three things are particularly important: continuing efforts at law reforms to gradually decolonise our laws and make them closer to our values, culture and history; addressing social justice to tackle glaring inequalities and foster cohesion; and improving access to justice, especially considering the rising cost of litigation and the exclusion of the weak and vulnerable,” he added.

He equally lamented Nigeria’s perennial challenge of poor policy implementation despite having “very good policies.”

“Law and learning are inseparable. At the core of the study of law is the knowledge of value, and justice is one of those core values the law is supposed to achieve,” the Sultan told the gathering, which included South African opposition leader Julius Malema.

Also in his speech, the governor of Enugu State, Dr. Peter Mbah, reminded lawyers in the country that the law is more than a profession, as it serves as the conscience of the nation.

Mbah restated the commitment of his administration to justice sector reform, which he said remained the cornerstone of his government.

He said, the theme of this year’s conference, is a timely reminder of the responsibility lawyer and leaders, saying that, “The law is not just a profession – it is the conscience of the nation. We are not only courtroom advocates; we are also defenders of truth, architects of peace, and champions of equity”.

ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE