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Tag: Paris Club Refund

  • $418m Paris Club Refund: Your Statement is Half-Truth – NGF Tackles Ned Nwoko

    $418m Paris Club Refund: Your Statement is Half-Truth – NGF Tackles Ned Nwoko

    The Nigeria Governors’ Forum (NGF) has accused the lead counsel in the Paris Club refund case, Ned Nwoko, of telling what it described as “half-truths” following the latter’s claim that the governors demanded and received $100 million to prosecute elections in some states.

    A statement by the NGF on Sunday said Ned’s claim in Saturday’s press briefing is an attempt to hide the truth.

    “In his desperation to justify his claim, NED peddled untruths that his team was a member of the Federal Government Committee constituted to reconcile figures under the Paris Club refunds to the States and Local Governments. That is patently false,” the NGF’s Director, Media and Public Affairs, Abdulrazaque Bello-Barkindo, said in the statement.

    “The report of that committee dated May 2007 shows that only the FMF, OAGF, CBN, DMO, and RMFC (secretariat) were members. Private persons who were not privy could not have been included in a committee that was meant to examine purely public financial records. It was this Committee that did all the work now claimed by NED and the other consultants.”

    It also said “the desperate, spurious and futile advocacy mounted and coordinated by the AGF on behalf of the so-called Paris Club Consultants to justify the plundering of the humongous sum of USD418.9m from the public treasury of the States and Local Governments continued on Saturday 20th August 2022, when Ned Nwoko, in a press statement, attempted to blur and obfuscate the real facts and legal issues in controversy by dishing out blatant lies and half-truths.

    “The facts are and will always remain: whether the claims of the consultants are lawful and justified under our Constitution and whether any Judgment which is a subject of a pending appeal can be enforced or executed as the consultants now attempt to do? If both questions are answered in the negative, it does not matter if the contracts leading to the claims were entered into by any public official, past or present.”

    The NGF noted that it will not waste time defending “unsubstantiated claims”, maintaining that its “role in the whole of this Paris Club refund debacle to consultants is to ensure that Nigeria citizens are not unlawfully deprived of resources meant for their development”.

    “NGF will not, therefore, waste its valuable time to defend unsubstantiated allegations against individuals or persons who are in a position to defend themselves. If NED is sure of his facts, he is at liberty to approach the necessary authorities to bring to justice any person or persons and all conspirators (including himself) who were allegedly involved in misappropriating public resources for campaign financing,” the statement further read.

    “The NGF hereby states unequivocally that it has not at any time been involved in or been in receipt of USD$100m or any other funds from NED Nwoko to finance elections in any State.”

  • Paris Club Refund: Court Dismisses $418m debt Suit against FG

    Paris Club Refund: Court Dismisses $418m debt Suit against FG

    The Federal High Court in Abuja has dismissed a suit by the Attorneys-General of the 36 states against the Federal Government.

    In the suit, the states are challenging the planned deduction of $418 million from the Federation Account to settle debts owed consultants engaged by the states and local governments in relation to the Paris Club refunds.

    Justice Inyang Ekwo dismissed the suit in a judgement delivered on Friday, saying the attorneys-general have not shown enough evidence to accord them the right to institute the action.

    He held that there was no express evidence to show that the governors of the 36 states consented to the filing of the suit.

    According to the judge, the office of the Attorney-General of a state was created under Section 195 of the 1999 Constitution, as amended and the AG of a state is appointed by a governor, which makes the AG an appointee who is under the control of a governor.

    He held that the contention of the plaintiffs that it was not a party to the judgment debt did not hold water because the Nigerian Governors’ Forum and the Association of Local Governments were parties in the suit.

    The court further held that the plaintiffs had acknowledged the existence of judgment debt, insisting that the filing of the suit was a ploy to challenge the judgement debt.

    Justice Ekwo noted that the action of the plaintiff amounted to an abuse of court process and subsequently dismissed the suit for lacking in merit.

    Details later…

  • Paris Club Refund: IMC frowns as FG okays payment of $418m to consultants/contractors

    Paris Club Refund: IMC frowns as FG okays payment of $418m to consultants/contractors

    • Show us proofs of the alleged executed projects in 774 LGAs- IMC dares RIOK
    • Faults Finance minister approval of ‘controversial’ payment for via Promissory Notes
    • It is against your fight to nip corruption; halt all payments now- IMC tells Buhari

    The Interim Management Committee of Association of Local Government of Nigeria, has frowned at the federal government approval of payment of monies amounting to $418 million to consultants and contractors for the roles they played in the Paris Club refund received by its administration.

    The IMC in a suit filed in the Federal High Court dated 1st September 2021 via motion of notice in suit no M/5474/2021 and also Writ of Summon in suit no CV/2185/2021, challenged the FG, Attorney General of the Federation, the Minister of Justice, DMO, AGF, EFCC and the Chief Registrar of the High Court for their involvement in approving promissory notes of payments in the sum of US$142,028,941.95, US$ 1,219,440.45, US$ 215, 195.36, RIOK Nigeria Ltd, Prince Nwafor Orizu, Barr. Olaitan Bello, respectively.

    Recall earlier report revealed that President Muhammadu Buhari had approved the payment of the controversial amounts in Paris Club refund-related judgment debts to consultants, without considering the calls for a forensic audit into the claims of the creditors and the Federal Ministry of Finance following such order had also directed the Debt Management Office (DMO) to commence issuance of promissory notes to the creditors, as approved by the order of the president.

    The Minister of Finance on the order of the President, is said to have directed the Director-General, Debt Management Office (DMO) to issue Promissory Notes 12th August, 2021 in favour of the consultants and contractors. The purported amounts claimed by the various consultants are as follow: Ned Nwoko –US$68,658,193.83; Ted Iseghoghi Edwards -$159 million; Riok Nigeria Limited $142,028,941.95, prince Orji Nwafor Orizu US$1,219,440.45, and Olaitan Bello – US$215,195.36 and Panic Alert System Limited and George Uboh – $47,831,920.

    However, in the fresh suit filed the ALGON-IMC, asking the court to grant an order to dissuade the Hon. Minister of Finance, the debt management office, the accountant general of the federation and the chief registrar of the high court from issuing, handing over or releasing any promissory note or banking instrument of transfer to the consultants and contractors.

    The IMC questioning the basis for the approval of payments, demanded that the contractors should provide proofs of the allegedly executed projects, contracts in any of the 774 local government areas to back up their claims to such enormous amount of monies. It also alleged that the consultants having succeeded in fraudulently obtainment of court judgement in suit No FCT/HC/CV/2129/201, to divert common wealth belonging to the 774 local government areas for themselves their families and cronies alone.

    It said: “The IMC cannot sit down and watch constant extortion being perpetrated in the name and with the name of the association, the situation at hand is very germane and requires immediate attention, hence the purpose for this address. The current approval by the president, others to issue promissory notes of payment to the six consultants without due diligence, is fraudulent and has a tarnishing impact on the association as those involved did not execute any of the alleged projects and does not deserve to receive the rights of payment.

    “The President should not water down his fight against corruption by not following due process to seek documented evidences/proofs of the projects, contracts allegedly executed by these consultants. Also let us not us not rob peter to pay paul by standing with our hands folded watching these men of greedy stance deprive people in the grassroots level, monies that should be used to enhance and effect development and growth. We heavily frown at the stance of the president approving payments for underperforming self-made consultants, this action if honoured will cause irreparable damage to the third tier of government. It is on this premise that we dare those involved to provide proofs of the projects executed while laying claims to such amounts as mentioned in the order of which a promissory note was issued.

    “Every money be it dollar or naira should be channeled to people-oriented projects as the nation is already going through economic challenges and the issuance of Promissory Notes of enormous sums in millions of dollars to private persons, organisations for alleged consultancy/contract work requires not just caution but strict due diligence, particularly when the judgments which gave rise to the payments sought to be enforced are the subject of pending litigation. Matters that are subjudice must not be acted upon in a manner that will foist a situation of complete helplessness on the courts and render their decisions inconsequential.

    “Again let me reiterate that the Minister of Finance, the DG of DMO, and the AGF had since been duly served and notified of the pendency of these actions in court, but then it is however very strange and indeed alarming that having been served and made aware of the pendency of the various court cases, the Minister of Finance would readily but in complete disregard of the law direct that Promissory Notes be issued in favour of these consultants. There is however FOUL PLAY, which can only be interpreted by those imvolved!” It added.

    The IMC buttressed that custodians and managers of public funds are public trustees and must at all times act in the interest of the public, adding that the interest of all the states and local governments of the federation is involved in this instant case and ought to be protected by the Minister of Finance.