Posted By: Yusuf Alli


The Economic and Financial Crimes Commission (EFCC) is considering the probe of some state governors for allegedly diverting fees meant for payment to consultants who assisted states on the London-Paris Club loan refund.

Some states may not be able to access the last tranche of refund of about $2,689,279,365 unless they allow the federal government to deduct the consultants’ fees at source.

The consultants are insisting on the payment of their $350million before the $2.6billion is released to states.

Investigation by our correspondent revealed that while the Nigeria Governors Forum (NGF) offered to pay its consultants about two per cent for services, most states promised their consultants between five to 10 per cent.

The NGF had hired Biz Plus Limited and GSL Consulting Limited as its consultants

Some governors that did not hire consultants are now alleged to have collected consultancy fess between five and 10 percent for themselves.

President Muhammadu Buhari had approved the release of N522.74 billion (first tranche) refund to states pending reconciliation of records following protests by states against over deductions for external debt service between 1995 and 2002.

Each state was entitled to N14.5 billion or 25% of the amount claimed.

The second tranche of N243.79billion was released in December 2017.

The release of the cash was trailed by a huge controversy, including payment of N19billion consultancy fees and $86million into the accounts of the NGF.

The EFCC in the last two and a half years had been investigating the alleged diversion of the N19billion under the guise of consultancy fees.

About $183,000 out of the N3.5billion was transferred to a jewellery firm in Dubai bring patronized by some ranking Senators.

About four suspects are already facing trial for alleged conversion of N3.5billion out of N19billion London-Paris Club refund to states.

But investigation revealed that many governors and past governors are in trouble over the refund.

Findings revealed that most governors have not paid the consultants they engaged to trace their loan records, repayment and their states’ share of refund.

A reliable source, who spoke in confidence, said: “We are still investigating the London-Paris Club refund because there had been issues on the cash. Some governors have diverted the refund and deducted consultancy fees without paying consultants.

“Most governors have reneged on the agreement to pay the consultants engaged by their states.

“While the NGF offered to pay consultants about two per cent, some states negotiated five to 10% with their consultants. Yet these governors have deducted the consultancy fees from the refunds made to their states without paying the consultants.

“There is a case of state which got over N11billion. The governor of the affected state violated the agreement and paid only a pittance of N15million to the consultants.

“Some state governors did not engage consultants but they paid consultancy fees to themselves through their cronies.

“So far, about $350million is the accumulated consultancy fees. Despite the approval by the presidency NGF does not want $350million released to consultants at all.”

The source said: “One of the governors who diverted N500million out of the London-Paris Club refund was uncovered and he has lost the cash to the Federal Government.

“We have more instances. Some former governors, who had nothing to do with the refund, brought in consultants in order to benefit from the exercise.”

A government source said: “The position of the presidency is that the $350million out of about $2,689,279,365 final tranche of London-Paris Club refund should be paid to the consultants.

“In fact the presidency directed that the consultancy fees should be deducted and remitted into a dedicated in CBN.

“The governors are opposed to deduction from source. They said since the cash belongs to states, the presidency should leave governors to relate with their consultants. They also claimed that the presidency was never part of any agreement between states and consultants.”

Some governors that did not hire consultants are now alleged to have collected consultancy fess between five and 10 percent for themselves.

oladele00:
We will never allow Atiku to have power again.. The messes of goodluck Jonathan is too big to wash away in 8yrs... God bless PMB for his wonderful deeds

oladele00:
We will never allow Atiku to have power again.. The messes of goodluck Jonathan is too big to wash away in 8yrs... God bless PMB for his wonderful deeds

However, following his appointment in 2015,Mr Malami curiously employed the services of two lawyers to perform same responsibilities reportedly completed by Mr Monfrini’s law firm.

He also demanded the payment of $16.9 million for the services of the two lawyers, an amount far higher than what Mr Monfrini was reported to have been paid in the original contract.

The two controversially employed lawyers, Oladipo Okpeseyi and Temitope Adebayo, were reportedly both former colleagues of Mr Malami at the defunct CPC.

Reacting to the reported controversies trailing the appointment of the lawyers and a law suit instituted after repeated Freedom of Information Requests on the matter by the Cable Foundation, Mr Malami claimed the fresh contract was created because Mr Monfrini charged Nigeria 20 per cent of the recovered sum as against the expected five per cent for the execution of the return.

That claim was however debunked by Mr Monfrini as a blatant lie.“I never had the audacity to claim for the additional fees.This figure of 20 per cent is simply invented,” Mr Monfrini was quoted as saying.

Speaking on the controversial appointment of the lawyers, the Chief Executive Officer of the Cable Foundation,Simon Kolawole,said although his company has filed a suit against the AGF on the matter, another court case would be instituted if the govt goes ahead with the controversial payment.

“Monfrini was not forthcoming with responses to our inquiries. That was why we sent an FOI request to the AGF to get a copy of the agreement.

“It was when AGF media consultants started lying against Monfrini that he eventually opened up. Actually he had finished the job. There was no need for lawyers again. All that was required was for the AGF to write to the Swiss AG to ask for the money. For this our own AGF engaged lawyers for $16.9 million!

“We found this appalling. Our position is that the lawyers should not be paid. We will see this to a logical conclusion. We are already in court seeking an order of mandamus to force the AGF to make the agreement public.

If the government goes ahead and pays the lawyers, we will file another case. At the foundation, we are ready to see this to the very end. Justice has to be done,” Mr Kolawole said.
https://www.premiumtimesng.com/features-and-interviews/281041-analysis-the-shenanigans-shady-actions-of-nigerias-attorney-general-malami.html

midolian:

Imagine!I just wonder how great this country would have been if all Governors have been half as positive as Buhari..

Any person who is obsessed with proclaiming his “integrity” at the slightest opportunity but won’t investigate, much less fire, shady characters he has appointed to work with and for him can’t possibly be truly a person of integrity.

From PTF to The Buhari Organization (TBO), Buhari has consistently protected corrupt close aides from the consequences of their ethical and legal infractions.

This attitude of mollycoddling corrupt but loyal aides and appointees while pretending to be a man of “integrity” who is “fighting” corruption is getting worse by the day and indicates that, in spite of self-righteous declarations to the contrary, Buhari is himself morally indistinguishable from his crooked cronies.

It is impossible to deploy the resources of logic to argue that Buhari has integrity. He doesn’t. Well, unless integrity means something to Buhari supporters other than what it actually means in the English language

https://www.google.com/amp/s/www.dailytrust.com.ng/amplite/adeosun-s-nysc-certificate-is-as-fake-as-buhari-s-integrity-260912.html

dre11:



http://thenationonlineng.net/2-6b-london-paris-club-cash-governors-face-fresh-probe/

Seetto:

seriously we need buhari to continue for another four years, this country has been seriously messed up, no wonder they are ganging up to come back to power, no atiku never......

midolian:


Imagine!

I just wonder how great this country would have been if all Governors have been half as positive as Buhari..

sapoyoro:

Buhari or jubrin en Sudan?
positive koo,posirive ni

post=74093047:
Very Good development.

The source said: “One of the governors who diverted N500million out of the London-Paris Club refund was uncovered and he has lost the cash to the Federal Government.
We know the name of the criminal.