Lagos-based lawyer, Mr. Femi Falana (SAN), may sue the Federal Government over its plan to obtain loans to finance the budget rather than retrieve about $66.5billion government’s recoverable revenues, royalties and levies from some public and private bodies and individuals.
Falana, in a letter dated February 12, 2016, addressed to the Minister of Finance, Mrs. Kemi Adeosun, threatened to file the suit against the Federal Government not later than February 29. The suit, he said, was necessitated by the minister’s failure to respond to the “serious issues” which he raised in his earlier letter discouraging the Federal Government from going ahead with its plan to obtain $3.5billion loan from the World Bank and the African Development Bank but to instead recoup the recoverable $66.5billion.
His fresh letter read: “Our letter dated February 5, 2016 in respect of the above subject matter refers.
“Since you 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 with a view to compelling the Federal Government to recover the said loans, royalties levies and other recoverable revenues of not less than $66.5bn.”
Falana had in his earlier letter to the Minister of Finance, argued that there was no need to obtain a $3.5bn loan to finance the budget when the Federal Government could recover about $66.5billion it was being owed.
