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COVID-19: Beware of lending more to Nigeria. Timi Frank warns the IMF, others

A political activist and former undersecretary of national publicity for the Congress of All Progressives (APC), Comrade Timi Frank, has warned the International Monetary Fund (IMF) and other international organizations to be wary of plans to grant another loan to the administration led by President Buhari on behalf of COVID-19.

The Nigerian government is reportedly applying for a $ 3.4 billion loan from the IMF to combat the COVID-19 epidemic in Nigeria.

But Timi Frank says the IMF must ask for answers on how the current administration has spent previous loans from China and other sources.

The former APC spokesman said that if the loan were approved, it would be the largest granted to the continent.

However, he warned that international organizations should not mortgage the future of unborn Nigerians by lending.

The political activist in a statement made available to DAILY POST on Monday said that despite all the previous loans taken over the past five years by President Buhari’s administration, Nigeria is still known as the world capital of poverty.

Frank said, “The APC government has given governance another name in Nigeria and is now a government on loan.” The IMF must ask to see the roads, health facilities and all types of infrastructure for which previous loans have been used. ”

The Bayelsa-born activist said that if such a large amount of money is given to the current regime, it will be handled poorly.

“With this advice to the IMF and other organizations to be careful not to facilitate corruption in Nigeria. The proposed $ 3.4 billion loan granted to Nigeria to combat COVID-19 is questionable. General Buhari’s government has raised several loans from China and the World Bank, but this is not reflected among the Nigerians.

“The purpose of the loans over the years has not been realized. Buhari is corrupt, they will end up sharing the money with each other and telling invented stories to the Nigerians. The loan will not be used to apply to COVID-19. They won’t build hospitals or buy medical equipment, “said Frank.

The activist said that viruses like corruption, hunger, poverty, nepotism and evil kill Nigerians more daily than COVID-19.

Frank asked the wealthy Nigerians to donate directly to citizens instead of donating to the federal government.

“With this invitation the private and commercial sector to stop donating aid funds to the Nigerian government. They should instead make a direct donation to the Nigerians through their BVN; so that this money can reach the Nigerians directly, instead of giving the money. to this corrupt government. “

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