A human rights lawyer, Femi Falana, SAN, has threatened legal action against the Federal Government over its insistence on borrowing $3.5 billion from the World Bank and the African Development Bank, AfDB, in a bid to finance the 2016 budget.
In a statement he released on Sunday, Falana, said he would initiate legal proceedings so as to compel the federal government to recover over $66.5 billion recoverable loans, royalties, levies and revenues it was currently being owed, instead of going ahead to borrow.
He said since the Federal Government, “have not deemed it fit to react to the serious issues raised in the letter, kindly be informed that we shall commence legal proceedings not later than February 29, 2015.”
The human right lawyer noted that he would initiate legal action with a view to compelling the Federal Government “to recover the said loans, royalties, levies and other recoverable revenues of not less than $66.5 billion.”
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