2027: US Firm moves to halt fresh loans to Nigeria
A United States-based advocacy firm, Von Batten-Montague-York, has called on international financial institutions to suspend new loans to Nigeria ahead of the 2027 presidential election. The firm made the call in a statement shared on its X handle while reacting to reports that President Bola Ahmed Tinubu’s administration is seeking billions of dollars in financing […] 2027: US Firm moves to halt…
A US-based advocacy group has urged international financial bodies to cease extending new loans to Nigeria in the lead-up to the 2027 presidential election. The firm's statement, shared on its X platform, comes in response to President Bola Ahmed Tinubu's administration's pursuit of substantial funding from various global lenders.
The organization argues that Nigeria's plea for loans from institutions like the World Bank, EIB, and the AFD is premature, as it is made mere months before the upcoming election. The firm highlights the well-documented issue of funds being siphoned off by politicians while the general populace struggles with basic necessities. The group pledges to contact the World Bank, where the US holds influence, to express their concerns.
The firm contends that given Nigeria's history of corruption, any further lending should be halted until the Nigerian electorate has chosen its next leaders.
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