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Tag: Paris Club Refund

  • CBN gov faces contempt charge over Paris Club refund

    CBN gov faces contempt charge over Paris Club refund

    A consulting firm, Melrose General Services Limited, has filed a contempt charge against the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, and its Director of Legal Services, Salam-Alada Kofo, over dispute on the Paris Club refund.

    The company instituted the suit marked: FHC/ABJ/CS/532/2025 before Justice Inyang Ekwo of the Federal High Court in Abuja.

    Cardoso and Kofo are facing contempt proceedings for allegedly failing to comply with a Supreme Court judgment that reversed the forfeiture of N1.22 billion and N220 million in an appeal by Melrose General Services.

    Justice Ekwo had fixed June 4 for the hearing of the matter.

    NAN reports that in June 2024, the Supreme Court overturned a previous forfeiture order against Melrose General Services Limited’s funds, which had been frozen following an investigation by the Economic and Financial Crimes Commission (EFCC).

    The disputed sums included N1,222,384,857.84 in Melrose’s bank account and N220 million paid by the company to Wasp Networks and Thebe Wellness as loan and investment.

    The apex court had ruled that the EFCC had not proven the funds were proceeds of fraud, as alleged.

    The court set aside the lower courts’ forfeiture orders, directing the release of the funds to their rightful owners.

    However, despite the Supreme Court’s decision, Melrose’s lawyers filed a lawsuit at the trial court, alleging that the CBN and its top officials had only partially complied with the judgment.

    Melrose, in its application before Justice Ekwo, averred that while the N1.22 billion was refunded, the outstanding N220 million remains unpaid.

    The company, through its counsel Chikaosolu Ojukwu, SAN, filed the contempt suit against the CBN governor, Director of Legal Services, the EFCC and the Minister of Finance, arguing that their refusal to release the full amount constitutes contempt of court and undermines the Supreme Court’s authority.

    Ojukwu informed the court that the EFCC, via the CBN, had only made a partial refund, and accused the CBN officials of neglecting their legal obligations regarding the remaining funds.

    He cited the apex court judgement which ruled that, “The appellant’s application( Melrose General Services limited) to set aside the order of interim forfeiture of the sum of N1,222,384,857.84 in the appellant’s account with Access Bank Plc and N220,000,000.00 in the accounts of the 2nd and 3rd respondents(Wasp Networks and Thebe Wellness), is hereby granted.”

    It would be recalled that Justice Ekwo had, on March 27, granted Melrose’s request to serve the contempt applications (Form 48 and Form 49) on the respondents, giving them seven days to reply.

    At the April 10 hearing, Melrose’s counsel, Segun Fiki, confirmed that all parties, except the Ministry of Finance, had responded to the court documents.

    The CBN’s legal team, represented by Abdulfatai Oyedele, filed a preliminary objection and counter-affidavit, arguing that the Supreme Court did not direct payment of N220 million to Melrose’s account, but to the accounts of Wasp Network Limited and Thebe Wellness Services, from which the money was originally forfeited.

    The CBN submitted that Wasp Network’s solicitors had requested payment of N200 million, while Thebe Wellness had yet to claim their N20 million share.

    The CBN maintained it had acted in compliance with the judgment and that there was no unethical conduct.

    The EFCC, represented by Martha Babatunde, filed a motion for misjoinder, asserting it should not be a party to the contempt case.

    The judge has adjourned the matter until June 4 for hearing.

    Recall that the dispute stems from the controversial Paris Club refund, a settlement involving payments to consultants for services rendered to the Nigerian Governors’ Forum.

  • Paris Club refund: Consultant files contempt charge against CBN

    Paris Club refund: Consultant files contempt charge against CBN

    A consulting firm, Melrose General Services Limited, has filed a contempt charge against the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, and its Director of Legal Services, Salam-Alada Kofo, over dispute on the Paris Club refund.

    The company instituted the suit marked: FHC/ABJ/CS/532/2025 before Justice Inyang Ekwo of the Federal High Court in Abuja.

    Cardoso and Kofo are facing contempt proceedings for allegedly failing to comply with a Supreme Court judgment that reversed the forfeiture of N1.22 billion and N220 million in an appeal by Melrose General Services.

    Justice Ekwo had fixed June 4 for the hearing of the matter.

    In June 2024, the Supreme Court overturned a previous forfeiture order against Melrose General Services Limited’s funds, which had been frozen following an investigation by the Economic and Financial Crimes Commission (EFCC).

    The disputed sums included N1,222,384,857.84 in Melrose’s bank account and N220 million paid by the company to Wasp Networks and Thebe Wellness as loan and investment.

    The apex court had ruled that the EFCC had not proven the funds were proceeds of fraud, as alleged.

    The court set aside the lower courts’ forfeiture orders, directing the release of the funds to their rightful owners.

    However, despite the Supreme Court’s decision, Melrose’s lawyers filed a lawsuit at the trial court, alleging that the CBN and its top officials had only partially complied with the judgment.

    Melrose, in its application before Justice Ekwo, averred that while the N1.22 billion was refunded, the outstanding N220 million remains unpaid.

    The company, through its counsel Chikaosolu Ojukwu, SAN, filed the contempt suit against the CBN governor, Director of Legal Services, the EFCC and the Minister of Finance, arguing that their refusal to release the full amount constitutes contempt of court and undermines the Supreme Court’s authority.

    Ojukwu informed the court that the EFCC, via the CBN, had only made a partial refund, and accused the CBN officials of neglecting their legal obligations regarding the remaining funds.

    He cited the apex court judgement which ruled that, “The appellant’s application( Melrose General Services limited) to set aside the order of interim forfeiture of the sum of N1,222,384,857.84 in the appellant’s account with Access Bank Plc and N220,000,000.00 in the accounts of the 2nd and 3rd respondents(Wasp Networks and Thebe Wellness), is hereby granted.”

    It would be recalled that Justice Ekwo had, on March 27, granted Melrose’s request to serve the contempt applications (Form 48 and Form 49) on the respondents, giving them seven days to reply.

    At the April 10 hearing, Melrose’s counsel, Segun Fiki, confirmed that all parties, except the Ministry of Finance, had responded to the court documents.

    The CBN’s legal team, represented by Abdulfatai Oyedele, filed a preliminary objection and counter-affidavit, arguing that the Supreme Court did not direct payment of N220 million to Melrose’s account, but to the accounts of Wasp Network Limited and Thebe Wellness Services, from which the money was originally forfeited.

    The CBN submitted that Wasp Network’s solicitors had requested payment of N200 million, while Thebe Wellness had yet to claim their N20 million share.

    The CBN maintained it had acted in compliance with the judgment and that there was no unethical conduct.

    The EFCC, represented by Martha Babatunde, filed a motion for misjoinder, asserting it should not be a party to the contempt case.

    The judge has adjourned the matter until June 4 for hearing.

    Recall that the dispute stems from the controversial Paris Club refund, a settlement involving payments to consultants for services rendered to the Nigerian Governors’ Forum.

  • Emefiele’s woes compound, escapes arrest warrant over $53m Paris Club fund

    Emefiele’s woes compound, escapes arrest warrant over $53m Paris Club fund

    A Federal High Court, Abuja, on Wednesday, threatened to issue a warrant of arrest against suspended Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, over his failure to appear in court to explain circumstances surrounding the 53 million dollar-judgment debt arising from the Pars Club refund.

    Justice Inyang Ekwo, who ordered Emefiele to appear on the next adjourned date, said he was minded to exercise restraint in the proceeding to give the ex-CBN boss an opportunity to explain himself.

    The development occurred following an intervention by Emefiele’s counsel, Audu Anuga, SAN, praying the court to give his client another opportunity due to the fact that they had been unable to reach him since the last order, directing him to appear in court.

    Anuga told the court that Emefiele, who was suspended as CBN governor, had been in detention. He said all efforts to reach him to communicate the directive of the court to him were unsuccessful.

    Recall Justice  Ekwo had, on Oct. 20, 2022, ordered the CBN governor to appear in court on Jan. 18 over his alleged refusal to obey the order of the court for the payment of the judgment debt in favour of a legal practitioner, Joe Agi, SAN.

    Agi had dragged Linas International Ltd, Minister of Finance, CBN and Emefiele to court as 1st to 4th judgment debtors respectively, following an application for garnishee made by him as judgment creditor in the case.

    However, on Jan. 18, proceedings could not go on as scheduled when the matter was called, prompting the court to subsequently adjourn the case till March 20, before it was fixed for June 6 again.

    The judge, on June 6, ordered Emefiele to appear before it on July 19 (today).

    But President Bola Tinubu, on June 9, suspended him as CBN governor and he was directed to transfer his responsibilities to the deputy governor, operations directorate.

    No sooner had Emefiele been suspended than the Department of State Services (DSS), on June 10, announced his arrest and detention.

    Upon resumed hearing on Wednesday, Ayodele Arotiowa, who appeared for Agi, was about to make a submission when Justice Ekwo asked Emefiele’s lawyer if he had complied with the order.

    “We made efforts to see how we can communicate with the 4th respondent (Emefiele) but the 3rd respondent (CBN) was unable to communicate with the 4th respondent

    “We rely only on public communication that the 4th respondent is incarcerated and have been unable to communicate with him,” Anuga responded.

    He said there was another development now as to whether Emefiele could act on behalf of the CBN.

    The judge, who said that CBN had no issue here, said Emefiele was sued in his personal capacity.

    Anuga said: “But the public information now is that he has been suspended. An opportunity has to be given to him to comply.”

    Justice Ekwo said for how long will the court wait for Emefiele since 2017 when the suit was filed.

    “I have given you enough opportunity but you are taking it for granted,” the judge said while directing Anuga to give a good reason why the court should not issue a warrant of arrest against Emefiele.

    The senior lawyer said since his client was still in detention after his suspension despite an order mandating his release, “my lord, we are at the mercy of the court.”

    According to him, the whole purpose of the warrant is to put this honourable court in a duty to do its work.

    “But there is an intervening event, as we have not had the privilege to see him. The last opportunity my lord gave to the 4th respondent has not been communicated to him. I feel opportunity should be given so that this can be communicated,” he pleaded.

    Anuga said after this, if Emefiele failed to comply, the court can then take action.

    The judge, consequently, adjourned the matter until Oct. 31 for the CBN and Emefiele to show cause why an arrest warrant should not be issued against the former CBN governor.

    “Upon listening to counsel, I am minded to exercise restraint in this proceeding to give the 4th respondent an opportunity to explain himself to me on the next adjourned date,” he said.

    The dispute stemmed from an alleged $70 million judgment against Linas International Ltd for the lawyer’s (Joe Agi) assistance with the Paris Club refund.

    Emefiele was said to have only released $17 million, leaving an unpaid balance of $53 million.

    The court had on Jan. 23, 2020, ruled that Emefiele must appear “to be examined on oath.

    Since the order, the said garnishee order absolute, to pay the balance of 53 million dollars now due and payable under the said garnishee order absolute and also show cause why you should not be committed to prison for default in payment of the said sum”.

    In October 2022, Agi through his counsel Isaac Ekpa and Chinonso Obasi, filed another application against Linas International, Minister of Finance and the CBN.

    He sought for an order directing the Inspector-General of Police to arrest Emefiele and bring him to court alongside his lawyers, Damian Dodo, Audu Anuga, all Senior Advocates of Nigeria, and Ginika Ezeoke, Jessica Iyoke, Abdullahi Afolayan, and Olayemi Afolayan.”

  • Again, court summons Emefiele over $53m debt

    Again, court summons Emefiele over $53m debt

    A Federal High Court, Abuja, on Tuesday, ordered Godwin Emefiele, Governor of Central Bank of Nigeria (CBN) to appear on July 19 over a USD 53 million judgement debt arising from the Paris Club refund.

    Justice Inyang Ekwo, who gave the order during the hearing of a suit marked: FHC/ABJ/CS/1193/2017, insisted that the court would not hear Emefiele’s motion for stay until he appeared in court.

    Justice  Ekwo had, on Oct. 20, 2022, ordered the CBN governor to appear in court on Jan. 18 over his alleged refusal to obey the order of the court for the payment of the judgement debt in favour of a legal practitioner, Joe Agi, SAN.

    However, on Jan. 18, proceedings could not go on as scheduled when the matter was called, prompting the court to subsequently adjourned the case till March 20.

    Agi had dragged Linas International Ltd, Minister of Finance and CBN to court as 1st to 3rd judgement debtors respectively, following an application for garnishee made by him as judgement creditor in the case.

    Upon resumed hearing on Tuesday, Agi’s counsel, Ayodele Arotiowa, informed that on the last adjourned date, the court made an order that Mr Emefiele should appear in court on the next date and that the order had not been obeyed.

    Audu Anuga, SAN, who appeared for Emefiele and CBN, reminded that the court did not sit on the last adjourned date.

    “There is an intervening circumstance which we have brought to the attention of the court by filing of affidavit of fact,” he said.

    The judge then asked when the appeal was filed by Anuga.

    “The appeal was filed on the 28th day of October, 2022,” the lawyer responded.

    He said besides the appeal, they also filed a motion for stay.

    Anuga, who said that the appeal had been entered, said that was why they filed affidavit of fact.

    Arotiowa said though they had been served with the processes, they had also responded.

    Anuga told the court that they had pending application to set aside those order nisi.

    Justice Ekwo then said that it was because of the order he made that Emefiele should appear in court that prompted them to go on appeal “so that he does not appear in this court.”

    “That is exactly what you have done. So, we, the trial court cannot do our job?

    “I am not going to hear you on any application until Mr Godwin Emefiele appears in court.

    “Therefore  I am going to give a date for you to report to the court on the compliance with the order of the court.

    “Upon being aware that the motion for stay of execution is a live matter in this court, this court shall not hear that application unless and until Mr Godwin Emefiele who has been ordered to appear in court appears in court,” the judge declared.

    He adjourned the matter until July 19 for report.

    The dispute stemmed from an alleged $70 million judgement against Linas International Ltd for the lawyer’s (Joe Agi) assistance with the Paris Club refund.

    Emefiele was said to have only released $17 million, leaving an unpaid balance of $53 million.

    The court had on Jan. 23, 2020, ruled that Emefiele must appear “to be examined on oath,  since the date of the said garnishee order absolute, to pay the balance of 53 million dollars now due and payable under the said garnishee order absolute and also show cause why you should not be committed to prison for default in payment of the said sum”.

    In October 2022, Agi through his counsel Isaac Ekpa and Chinonso Obasi, filed another application against Linas International, Minister of Finance and the CBN.

    He sought for an order directing the Inspector-General of Police to arrest Emefiele and bring him to court alongside his lawyers, Damian Dodo, Audu Anuga, all Senior Advocates of Nigeria, and Ginika Ezeoke, Jessica Iyoke, Abdullahi Afolayan, and Olayemi Afolayan.”

  • Paris Club refund: NGF to explore legal options to prevent illegal payment to consultants

    Paris Club refund: NGF to explore legal options to prevent illegal payment to consultants

    The Nigeria Governors’ Forum (NGF) says it will explore all legal options on the disbursement of the $418 million Paris Club refund and promissory notes to ensure resources meant for state governments are not illegally paid to consultants.

    The forum disclosed this in a statement issued by its Chairman, Gov. Aminu Tambuwal, on Wednesday in Abuja after the teleconference meeting of the 36 state governors.

    “Regarding the $418 million Paris Club Refund and promissory notes issued to consultants by the Federal Ministry of Finance and the Debt Management Office (DMO), the forum remains resolute in exploring all legal channels available to it in ensuring that resources belonging to states are not unjustly or illegally paid to a few in the guise of consultancy,” he said.

    Tambuwal said the forum had also instructed its lawyers to approach the Federal High Court on the proposed privatisation of 10 National Integrated Power Projects (NIPPs) by the Federal Government.

    “The forum, following its advocacy that the proposed privatisation of 10 NIPPs by the Federal Government should be stopped, instructed its lawyers to approach the Federal High Court which at present has issued a court order restraining all the parties in the suit from taking any step or action that will make or render the outcome of the motion on notice seeking for interlocutory injunction nugatory.

    “The effect of the order of the court is that respondents cannot proceed with the proposed sale of the power plants belonging to the Niger Delta Power Holding Company Limited (NDPHCL) until the hearing and determination of the motion on notice for interlocutory injunction,” he said.

    Tambuwal added that sequel to discussions between sub-sovereigns at the recently concluded 2nd African Sub-Sovereign Government Network (AfSNET) Conference, the forum agreed to pursue support for enhanced dialogue, cooperation and collaboration between sub-sovereign governments around intra-African trade, investment, industrialisation and development.

    He said that such would be done through membership on the Forum of Regions of Africa (FORAF) and its partnership with the African Export–Import (AFREXIM) Bank.

    The governor said that the forum was also monitoring the flood situation across the country and working with the Federal Government to prepare emergency interventions to ameliorate the impact of the floods food security.

    Tambuwal said that the forum was working with the Federal Government through the National Economic Council (NEC) and in collaboration with the Federal Ministry of Agriculture and Rural Development (FMARD).

    Others, according to him, include the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development (FMHDSD), National Emergency Management Agency (NEMA), Central Bank of Nigeria (CBN), Federal Ministry of Finance, Budget and National Planning (FMFBNP) and the World Bank

    Members were also briefed by the World Bank Task Team Leader (TTL), Prof. Foluso Okunmadewa, on the desired restructuring of the $750 million Nigeria COVID-19 Action Recovery and Economic Stimulus Programme (CARES) programme to respond to Nigeria 2022 Flood Response following discussions with States and the National Economic Council (NEC) Ad hoc Committee on Flooding.

    “The restructuring will allow states re-allocate funding from the programme for immediate response for livelihoods, assets and basic services.

    “As the flood recedes, the states through the programme will be able to support the household enterprise recovery grants, short-term transfer of households displaced, labour intensive opportunities for unskilled labor, rehabilitation of basic services infrastructure, recovery of damaged agricultural infrastructure, rehabilitation of destroyed wet markets, amongst others.”

    Tambuwal added that forum received update on the implementation progress of the States Fiscal Transparency Accountability and Sustainability (SFTAS) programme which is in its last phase of annual assessment.

    He said that the update was received from the Senior Progamme Manager, NGF SFTAS Technical Assistance Programme, Olanrewaju Ajogbasile.

    “Members were also informed of technical assistance planned and ongoing to support sustainability of the reforms including support to ensure states publish their 2023 budget in line with the National Chart of Account (NCoA).

    “The forum assured the programme of its commitment to sustain the reforms and implement recommendations that could further strengthen their public financial management systems,” he said.

    He also said that the Minister of Interior, Ogbeni Rauf Aregbesola, briefed the forum on the congestion of the custodial centres across the country and the digitalisation of immigration processes.

    “Members welcomed the report of the minister and committed to working with law enforcement agencies, the judiciary, and the Nigeria Immigration Service (NIS) on the recommendations put forward as they relate to individual state jurisdiction.”

    Tambuwal also said that the NGF Senior Health Advisor, Dra Ahmad Abdulwahab, briefed the forum on the progress with polio routine immunisation highlighting that there has been an 85 per cent reduction in the number of Circulating Vaccine-Derived PolioVirus (cVDPV) in 2022 from 1,028 cases recorded in 2021.

    “Members were also provided update on the implementation progress of the COVID-19 Preparedness and Response Project (CoPREP) and the recently launched Primary Health Care (PHC) Leadership Challenge.

    “The forum reiterated its commitment to the Seattle Commitments and PHC strengthening, including the judicious use and timely release of counterpart fund where required.”

  • Explainer: Understanding the $418 Paris club refund controversy

    Explainer: Understanding the $418 Paris club refund controversy

    The Nigeria Governors’ Forum (NGF) on Monday denied claims that it reached an agreement with the federal government, over the controversial $418 Paris club refund payment to six consultants.

    The consultants and their claims are Ned Munir Nwoko ($68.7 million); Dr Ted Isighohi Edwards ($159 million); Panic Alert Security Systems Limited ($47.8 million); Riok Nigerian Limited ($142 million); Nwafor Orizu ($1.2 million) and Olaitan Bello ($215 million).

    “As far as I know, no financial transaction takes place without signing papers. Let them bring the papers that were signed; let them show us evidence of that agreement,” a spokesperson of the NGF Abdulrasaque Barkindo stated in an interview on Monday.

    He also denied claims made by the lead consultant for the recovery of over-deductions from Paris and London clubs debt buyback funds Ned Nwoko, on Saturday, that the NGF received the sum of $100 million to prosecute elections in some states of the country.

    “That’s a lie from the pit of hell. The Nigeria Governors Forum does not prosecute elections. There is no way an organization that runs with all the 36 governors who come from three different parties will now prosecute an election; for who?

    “The point is, these people continue to fabricate things. The Nigeria Governors Forum does not involve itself (sic). As a matter of fact, we shut down during political periods. So how will anybody from the APC take money and campaign for the opposing party, because the states he (Nwoko) mentioned are Bauchi, Osun, and Ekiti. These states belong to two parties,” Barkindo said.

    Four months ago, in a letter dated April 4, the 36 states of the federation had warned the federal government not to tamper with funds accruing to them and the 774 local councils under the guise of satisfying an alleged $418 million London/Paris Club Loan refund-related judgment debts.

    The letter which was signed by the body of Attorneys-General of the Federation Interim Chairman Moyosore Onigbanjo, was in response to a November 11, 2021 letter from the Minister of Finance, Budget, and National Planning, advertising the commencement of the deduction for liquidation of the alleged judgment debts.

    The states said they were not parties to any suit on the London/Paris Club refund, and as such were not liable to any person or entity in any judgment debt being relied on by the federal government.

    The NGF argued that an attempt to restart the deduction process, which is in Courts and for which the Supreme Court has made a pronouncement, would be unconstitutional, causing President Muhammadu Buhari to direct the Minister of Finance Zainab Ahmed, to suspend plans to begin the deduction. But the Attorney General of the Federation Abubakar Malami, insists the NGF had no basis to reject the proposed deductions.

    Background

    In 1985, Nigeria owed the Paris Club creditors $8 billion which grew in interest to about $30 billion in 20 years. By October 2005, the Nigerian delegation headed by then minister of finance Ngozi Okonjo-Iweala, negotiated the Paris Club agreement which stated that the club would “write off” 60 per cent ($18 billion) of Nigeria’s debt to members of the club, while Nigeria would pay back the remaining 40 per cent in two phases

    The federal government entered into agreements with state governments to deduct certain amounts from their federal allocation to service the debts and by April 2006, Nigeria transferred $4.5 billion to the recipient countries to complete repayment of all debt owed to the Paris Club of creditors. However, some states were overcharged in the debt servicing arrangement and applied for a refund.

    In December 2016, the federal government agreed to refund the states, but in three tranches. but controversy ensued when some consultants demanded money for their service in facilitating the payment. A former Military Governor of Kaduna State, Abubakar Dangiwa Umar, said some governors agreed with some consultants to pay fees ranging between 10 to 30 per cent to secure a refund.

    There was also an allegation that about N3.5 billion was paid out as consultancy fees by a collective of the NGF and some of the funds were reportedly traced to the bank accounts of senior members of the Senate.

    President Buhari had approved the payment of the contractors through the issuance of Promissory Notes, but this was resisted by the NGF. One of the contractors, Riok Nigeria Limited, who is a beneficiary of the Promissory Notes for $142 million and who had lost at the Court of Appeal, further appealed to the Supreme Court in suit no.: SC 337/2018.

    The Supreme Court on June 3, dismissed Riok’s appeal as lacking in merit, noting that neither the NGF nor the Association of Local Governments of Nigeria (ALGON) has the power to award contracts and charge the same directly to the Federation Account as done in the case.

    The apex court held that funds belonging to a state or local government must be kept in an account belonging to the State or Local Government as the case may be disbursed or expended by the state strictly in the manner and for the purposes prescribed in the Constitution and an Appropriation Law.

    The dismissal of RIOK’S case by the Supreme Court also affected the payment to two private lawyers to RIOK – Nwafor Orizu ($1.2 million) and Olaitan Bello ($215 million) who were also beneficiaries of Promissory Notes issued by the Debt Management Office (DMO). Besides RIOK and the two lawyers, the NGF is also challenging the claims made by the other contractors.

    However, the minister of justice has accused the state governors of reneging on their agreement with the consultants, insisting they have no basis for complaining about the Paris Club refund deductions paid to consultants they hired.

    “The Governor’s forum comprising all the governors sat down commonly agreed on the engagement of a consultant to provide certain services for them relating to the recovery of the Paris Club. So, it was the governor’s forum under the federal government in the first place that engaged the consultant,” Malami said.

    According to him, among the components of the claim presented for the consideration of the federal government by the governors, was a component related to the payment of these consultants, implying that the governors had recognized the consultants and upheld their claims.

    However, the Chairman of the NGF and Governor of Ekiti State Kayode Fayemi, has insisted that there was no collective agreement between the consultants and the NGF, adding that the forum has requested the consultants to provide evidence of work done.

    “There is no component that compels the governors’ forum to pay consultants anything, and there is no agreement between the consultants collectively and governors collectively,” Fayemi maintained.

  • Paris Club Refund: We are owed $68m not $418m – Ned Nwoko

    Paris Club Refund: We are owed $68m not $418m – Ned Nwoko

    Mr Ned Nwoko, the Lead Consultant for the recovery of over deductions from Paris and London clubs debt buy back funds, says his firm was being owed only 68 million dollars not 418 million dollars.

    Nwoko was reacting to the flurry of allegations and claims trailing his company’s demand for the payment of fees from the state governments and local government councils in the country, on Saturday in Abuja.

    The Lead Consultant of Linas International, frowned at the recent outbursts of the Chairman of the Nigeria Governors Forum (NGF), Gov. Kayode Fayemi of Ekiti, regarding the Paris Club refund.

    The Minister of Justice and Attorney General of the Federation, Abubakar Malami, had featured at the weekly briefings coordinated by the Presidential Media Team, on Aug. 11, where he spoke extensively on issues surrounding the refund,

    He stated that there was no basis for agitation by the NGF concerning deductions from the Paris Club refund paid to the consultants they hired.

    Malami had also described the governors’ action as akin to crying over spilled milk.

    The governors after their deliberations at the Presidential Villa Abuja on Wednesday, allegedly accused the Minister of orchestrating the deductions from their funds to settle the consultancy fees.

    Nwoko, however, absolved Malami of any wrongdoing as he said the minister was only trying to ensure that the law was obeyed.

    He revealed that the money being owed to the consultants was 68 million dollars and not 418 million dollars that had been in public space.

    According to him, his firm has nothing to do with 418 million dollars, saying this must be a miscalculation.

    He absolved the Attorney General of the Federation, Abubakar Malami of any wrongdoing as he said the minister was only trying to ensure that the law was obeyed.

    ”I am compelled to embark on this public engagement to debunk the litany of lies, spin and false narratives that had been dished out.

    ”This was to abuse the minds of the undiscerning public by the Chairman of NGF, Fayemi, against the payment of consultancy fees.

    ”The fees are legitimately earned and owed my firm for services rendered and which the states and local governments have fully been refunded.

    ”The outstanding fees owed my firm with regards to last work done for the states is approximately 68million dollars and not 418million dollars as maliciously sought to be conveyed by Fayemi and co.

    ”Our original claims calculated based on agreed terms was well in excess of 300million dollars.

    ”We offered huge discount on the entitlement to accept the 68million dollars,” he said.

    Nwoko stated that the agreements and judgment being executed were reached before the advent of the present administration.

  • Governors speak on receiving fresh N243.8bn Paris Club refund from FG in August

    Governors speak on receiving fresh N243.8bn Paris Club refund from FG in August

    The Nigeria Governors’ Forum (NGF) has denied alleged disbursement of N243.8 billion from the Paris Club refunds to states in the month of August.

    The NGF Secretariat disclosed this in a statement issued by its Head, Media and Public Affairs, Abdulrazaque Bello-Barkindo, on Friday in Abuja.

    Bello-Barkindo described the allegation as a big lie and a figment of the imagination of its author.

    He said that the announcement making the rounds that a disbursement of N243.8 billion to states in the month of August came to the attention of the forum as a surprise.

    “The NGF wishes to state categorically that nothing can be farther from the truth as this disbursement did not happen and could not have happened as there are no further possibilities, that they can happen now, or in the future.

    “The lie is further accentuated by the fact that the announcer has remained anonymous and to all intents and purposes, faceless.

    “If it were true and the announcer sure of his facts, he would have owned the announcement in case anyone wanted to verify the information. But alas! “The faceless announcer of the fake disbursement, is apparently, completely oblivious of, or even clueless, about how the Paris Club refunds came about.

    “This ignorance is either a sincere lack of knowledge of the process, or a deliberate effort to cause confusion in the land,” Bello-Barkindo said.

    He added that the Paris Club is not a reserve institution from which the Federal Government could dip its hands and share monies to States.

    He said it was a cumulative over-payment of debts by States, which has been refunded.

    Bello-Barkindo called on the announcer of the rumour to desist from spreading malicious, mischievous and false information to the Nigerian public, especially where it involves money.

    He said that such act could undermine the nation’s stability, especially at this inauspicious time when Nigeria’s finances are lean and security temperament fragile.

    “There are myriads of ways to encourage the population to call their leadership to account but stoking the embers of discord by dishing out false information is doing the states, the governors and the citizens, as a whole, a disservice or even a calamity that no responsible citizen invites on his people.”

  • Osun Govt. denies receiving Paris Club refund

    Osun Govt. denies receiving Paris Club refund

    The Osun State Government has said that it did not receive Paris Club Refund from the Federal Government, saying that such refunds were always made public by government.

    The denial followed a protest on Tuesday by retirees in the state , under the aegis of Forum of 2011/12 Pensioners in Osogbo, the state capital.

    The protesters alleged that the state government had collected the Paris Club refund and refused to pay their entitlements.

    Mr Adeniyi Adeshina, Chief Press Secretary to the State Governor, Gboyega Oyetola, in a press statement said the state had not collected any Paris Club refund.

    “It is absolute falsehood for any group of people to be claiming that some amount of intervention fund has been made available to Governor Adegboyega Oyetola-led administration.

    “Paris Club refund or any refund in any form, is never secretly disbursed.

    “Such payments are publicly announced and Oyetola at inception of his administration promised to run a transparent government.

    “He is not going to renege on this,” Adeniyi said

    The News Agency of Nigeria (NAN) reports that pensioners in Osun staged the protest to demand 15 months pension arrears owed to them , as well as gratuities of retirees from 2011/12 till date.

    Head of the Pensioners, Mr Yemi Lawal, claimed that they had information that the state government had revived N6.3 billion Paris Club Refund and insisted their entitlements must be paid before the money was diverted.