China not returning borrowed money from Nigeria: country approaches Standard Chartered Bank for funds

Abuja, Nigeria: China is not giving back the money borrowed from Nigeria. The country was waiting for the funds to start the two new rail projects. Now the Nigerian govt. has approached Standard Chartered Bank

Nigeria’s transport minister Rotimi Amaechi on Wednesday said the rail projects were being stalled by non-approval of loan requests by Chinese lenders, reported The Guardian.

“We are actually waiting for the Chinese to give us the loan we applied for and they kept delaying us,” Amaechi told journalists as quoted by the newspaper in Nigeria’s capital Abuja. “Will we wait for them forever? The answer is no.”

Nigeria has been negotiating a mix of loans from Chinese and European lenders to fund railway projects in the country, the newspaper reported.

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