Group Managing Director of NNPC Limited, Mele Abba Kyari
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Mr Omoleye Sowore, the presidential candidate of African Action Congress, AAC in the 2023 general election has described as biggest economic sabotage to Nigerians, the Nigeria National Petroleum Company Limited’s secured loan of $3 billion emergency crude repayment loan from Egypt.
He berated the Group Managing Director, Mele Abba Kyari for championing another round of heist against the Nigerian people.
CAPITAL POST recalled that the NNPC Limited had secured a $3 billion emergency crude repayment loan to support the naira and stabilise the foreign exchange market.
NNPC Limited secured the crude-for-cash funding from the African Export-Import Bank (Afreximbank) headquarters in Cairo, Egypt.
But reacting to the development, Sowore insisted that the whole transaction was laced with fraud meant to serve interest of top persons managing the affairs of the NNPCL, particularly the repayment of loan through crude oil for dollar swap at an interest rate between eight percent and 11 percent.
“The NNPC Ltd. and Afrexim Bank have jointly signed a commitment letter and Termsheet for an emergency $3 billion crude oil repayment loan,” NNPC said in a terse statement on Wednesday.
Writing on his verified X handle, formerly Twitter, Sowore wondered why the NNPC, which is a private company is helping Nigeria to stabilise the naira.
According to him, “Economic Saboteurs! Very criminally minded buccaneers! I thought they said @nnpclimited is no longer owned by Nigeria, what’s a supposedly “private company” doing with helping the Nigerian state to subsidise the Naira. And who is @afreximbank? Is that not the same bank @GodwinIEmefiele has been shipping Nigerian money to? #revolutionnow.”
