The Coalition of United Political Party (CUPP), through one of the registered political parties, Action Peoples Party (APP), has approached the Federal High Court in Abuja with a suit seeking to halt the proposed borrowing of the sum of $22.7 billion by the Federal Government.
According to the suit dated March 16, 2020, and filed by the Counsel to the APP, Chibuzor Ezike, the party is praying the court to set aside or nullify any approval for an external loan made by the National Assembly.
The party in the suit numbered, FHC/ABJ/CS/2020 raised seven issues for the determination of the court.
ALSO READ:Â https://tribuneonlineng.com/equities-market-begins-week-with-marginal-loss-of-n14-7bn/
Joined alongside the federal government in the suit as respondents are, President Muhammadu Buhari, Attorney-General of the Federation, Minister of Finance and the National Assembly.
The party, among other reliefs wants, wants the court to declare that is unlawful and for the National Assembly to offer to undertake any guarantee for the requested external loan made by the President when the terms and conditions of the said loan has not been duly laid before, considered and approved by the NASS as mandatorily stipulated by the law.
The plaintiff also asked the court to declare as unconstitutional, unlawful and ultra vires the executive powers of the President to borrow an external loan and participate in the negotiation and acquisition of any external loan without proper legislative framework by the NASS.
No date has been fixed for the hearing of the suit.
Meanwhile, the Spokesman of CUPP, Ikenga Imo Ugochinyere, has also written to all the lenders to halt the loan request in view of the pending legal action, adding that: “The loan request is riddled with project lopsidedness, lack of financial prudence, secrecy, plan to use loan for frivolous projects, over costing of projects, corruption, misapplication and incompetence.
and then