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APC to PDP: account for $460m CCTV project, $2bn China loan

The ruling All Progressives Congress (APC) has asked the opposition Peoples Democratic Party (PDP) to account for status of the failed $460 million Abuja Closed-Circuit Television (CCTV) awarded by the immediate past PDP led administration in August 2010.

It also asked the opposition to account for the over $2billion China loan the administration took between 2010 and 2013 alone; $16billion spent on power; fuel subsidy rackets and counter-insurgency funds allegedly diverted.

Former Vice President Atiku Abubakar had faulted the standard sovereign guarantee and sovereign immunity clause embedded in loan agreements with China to fund the ongoing national railway projects by the present administration.

The ruling party, in a statement on Monday in Abuja by its Deputy National Publicity Secretary, Yekini Nabena, described Atiku’s comment as “unresearched, unintelligent and pedestrian.”

The governing party noted: “As the Minister of Transportation, Rotimi Amaechi has explained the guarantee/clause in the loan deals is standard irrespective of the country granting the loan.

“Perhaps, Atiku and the Peoples Democratic Party (PDP) could redirect their energies to explaining to Nigerians the status of the failed $460 million Abuja Closed-Circuit Television (CCTV) awarded in August 2010 by the immediate-past PDP administration.

“Also, they should explain the over $2billion China loan the PDP administration took between 2010 and 2013 alone; $16billion spent on power with no electricity; fuel subsidy rackets; counter-insurgency funds that were diverted and shared to political cronies among other shocking heists.

“Recall that the failed CCTV installation project was initiated by late President Umaru Yar’Adua and awarded in August 2010 by former President, Goodluck Jonathan’s administration to help security agencies in the Federal Capital Territory check the growing insecurity.

“Since the agreement became signed, Nigeria has been servicing this loan to China while Nigerians are yet to attest to the visibility of CCTV project and unable to explain the status of the video surveillance project. The matter is subject to a legislative probe.”

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