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EFCC Finds $86m Paris Club Refund In Ngf’s Account - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / EFCC Finds $86m Paris Club Refund In Ngf’s Account (22862 Views)

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EFCC Finds $86m Paris Club Refund In Ngf’s Account by dre11(m): 7:06am On Mar 30, 2017
MORE cash believed to be part of the London-Paris Club loan refund has been found by the Economic and Financial Crimes Commission (EFCC).

The US$86,546,526.65 was remitted into the account of the Nigerian Governors Forum (NGF).

The account is said to have been depleted to about $17million as at the time the probe started.

The EFCC is probing how the cash got into the account, who remitted it and for what purpose.

“The cash was paid into the forum’s domiciliary account in GTB tagged: 0023577047 with sort code 058083215,” the source said, adding that the payment followed a November 21, 2016 memo on the remittance into the NGF’s account which was titled “Consultants fee”.

The cash was described as consultancy and legal fees as the case with the N19 billion which was allegedly diverted from the refund.

“This development has justified the earlier peg of our investigation that the part of the London-Paris Club loan refunds was paid into two accounts of the NGF” the source said, pleading not to be named because he has no authority to talk to the media.

“Operatives are tracking how the $86.5m was used and for what purpose. We want to know whether the affected financial and legal consultants exist or not.”

The Nation had exclusively reported that the Presidency was uncomfortable with how some governors managed the refund.

The Federal Government released N522.74 billion to 35 states as refund of over-deductions on London-Paris Club loans.

President Muhammadu Buhari directed the release of the refund to enable states to pay salaries and pensions.

But more than N19billion of the refund has been enmeshed in controversy over payment of consultancy fees. Some consultants were yet to be paid as at press time.

Some of the infractions noticeable in the management of the first tranche of the London-Paris Club loan refund are:

• computation of state records done at a private home in Maitama, Abuja;

• accounts initially opened in the names of two lead consultants but the details of who to be paid were later changed;

• N19b remitted into two NGF accounts;
commission to consultants cut from 10% to 2% but 5% was on paper as paid;

• the CBN paid directly to each state without the knowledge of the Accountant-General of the Federation; and

• part of the N19b commission was traced to a governor’s account and some individuals, including some members of the National Assembly.

It was also discovered that besides the central consultants, governors hired other consultants, with some conceding about 10-20% commission to them.

In some states, governors served as consultants through proxies.

Some consultants are yet to be paid because the NGF changed the commission formula as soon as the first tranche was remitted, The Nation learnt.

Besides, some governors deviated from using 25 per cent to 50 per cent for payment of outstanding salaries and pension as agreed with President Buhari.


http://thenationonlineng.net/efcc-finds-86m-paris-club-refund-ngfs-account/

8 Likes 1 Share

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by rottennaija(m): 7:08am On Mar 30, 2017
Governors for naija... No wonder they want Magu's head in the plata

70 Likes 1 Share

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by modath(f): 7:08am On Mar 30, 2017
The EFCC is probing how the cash got into the account, who remitted it and for what purpose


Why on earth are the governors operating a single account?


For what intent & purpose? If we are to go by this publication, APC, PDP, Muslims , Christians and non believers somehow managed to put ALL their differences aside to unite under one single common cause? On this they are not polarized on fault lines, United they stand...ori iya mi ooo cheesy cheesy


Iranu!!

127 Likes 14 Shares

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by obitwice06(m): 7:08am On Mar 30, 2017
Just Negodu

1 Like

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by dessz(m): 7:16am On Mar 30, 2017
when I see large numbers getting stolen, diverted or missing I was first shocked then l8r surprised, then numb, now am just indifferent.... cos the money still won't be gotten...

but what surprises me was that how can billions go missing without them finding it cos last week when I "diverted" #110 for MTN card from my mom....she caught me in 10 secs grin ......then she started swearing to my 20th generation tongue and I was like it's only #110, WTF angry .

56 Likes 2 Shares

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by Squillionaire: 7:22am On Mar 30, 2017
modath:




...If we are to go by this publication, APC, PDP, Muslims , Christians and non believers somehow managed to put ALL their differences aside to unite under one single common cause? On this they are not polarized on fault lines, United they stand...

Couldn’t have said it better.

12 Likes 1 Share

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by ZombieTERROR: 7:22am On Mar 30, 2017
All Nigerian politicians are thieves
Until we restructure
We can never get it right

This system only favors the corrupt
There is little or nothing EFCC can do
We are doomed

33 Likes 1 Share

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by HottestFire: 7:24am On Mar 30, 2017

Some people will still defend this people and cast aspersion on Magu and EFCC. Just read below;

From the words of Ezekwesili She said, “ Be laughing while tragi -comedians that COST more than N 100 Billion every year carry on at the @ nassnigeria .


“ You are a young Nigerian & cannot see the wicked hand you are being dealt ? You “ entertained ” by @ NGRSenate @ HouseNGR , I kuku sorry for YOU .

“ Balance there and be laughing , tweeting & swaggering while the folks in @ NGRSenate @ HouseNGR joke daily with your future . Na YOU sabii # End. ”

42 Likes 1 Share

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by agabusta: 7:46am On Mar 30, 2017
I don tire. The corruption in this country is just too much. Buhari sef don tire.

26 Likes 5 Shares

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by Boleyndynasty2(f): 7:51am On Mar 30, 2017
Ayaff tired for this country ooh, the stealing and corruption happening in this country even at this very moment is beyond evil.Our politicians are the worst set of criminals the world over cry

11 Likes 1 Share

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by Danhumprey: 8:01am On Mar 30, 2017
Corruption and stealing is what bounds our polithievcians together. I'm not surprised anymore.

I'm just indifferent. this country seems to be beyond redemption.

5 Likes

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by DesChyko(m): 8:11am On Mar 30, 2017
Since nobody has mentioned this popular slang, let me do so.

How can such massive mismanagement be going on under the administration of Mr Body Language? Or are we still under the so-called Ineffectual Buffoon?

Where are those critics when you need them?

24 Likes

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by Agimor(m): 8:25am On Mar 30, 2017
Buhari has gone mute of recent hope all is well...
Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by omenkaLives(m): 8:32am On Mar 30, 2017


Some of the infractions noticeable in the management of the first tranche of the London-Paris Club loan refund are:

• computation of state records done at a private home in Maitama, Abuja;

• accounts initially opened in the names of two lead consultants but the details of who to be paid were later changed;

• N19b remitted into two NGF accounts;
commission to consultants cut from 10% to 2% but 5% was on paper as paid;

• the CBN paid directly to each state without the knowledge of the Accountant-General of the Federation; and

• part of the N19b commission was traced to a governor’s account and some individuals, including some members of the National Assembly.

It was also discovered that besides the central consultants, governors hired other consultants, with some conceding about 10-20% commission to them.

In some states, governors served as consultants through proxies.

Some consultants are yet to be paid because the NGF changed the commission formula as soon as the first tranche was remitted, The Nation learnt.

Besides, some governors deviated from using 25 per cent to 50 per cent for payment of outstanding salaries and pension as agreed with President Buhari

Why do our leaders hate us so much in this country ?

What wrong did Nigerians do to deserve these bandits presiding over their affairs and collective destiny?

Sometimes I feel so depressed knowing the most it seems we can do is vent on social media, and even at that, one's security and freedom isn't guaranteed!

Just the other day, someone was thrown behind bars for criticising a governor, and in another instance, a mother was demoted in her place of work for drawing the attention of the government to their deplorable working conditions.

What do these guys want? Why is it so difficult doing good when you swore took good?

I just tire.

14 Likes 3 Shares

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by Fmartin(m): 8:39am On Mar 30, 2017
and yet, some folks will come here blaming buhari. nigeria's problem is 60% nass, 20% judiciary, 15% ngf, 5% precidency

15 Likes 3 Shares

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by omenkaLives(m): 8:41am On Mar 30, 2017
agabusta:
I don tire. The corruption in this country is just too much. Buhari sef don tire.
It is depressing honestly my brother!

5 Likes 1 Share

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by omenkaLives(m): 8:42am On Mar 30, 2017
modath:




Why on earth are the governors operating a single account?


For what intent & purpose? If we are to go by this publication, APC, PDP, Muslims , Christians and non believers somehow managed to put ALL their differences aside to unite under one single common cause? On this they are not polarized on fault lines, United they stand...ori iya mi ooo cheesy cheesy

Meanwhile, the Deluded Lost Kids of Nairaland will blame and curse their ancestors for every stone they accidentally step on... What a waste!!

Iranu!!

1 Like

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by ZombieTERROR: 8:53am On Mar 30, 2017
Funlordjnr:




From the constant nonsense you post on nairaland daily, to your deluded views on matters arising in the polity, to your tribally insensitive and hate and negativity filled posts, I can categorically say that YOU are the one that is actually DOOMED and not nigeria! Pray for yourself!
Any country that has a personality like Buhari as her president is doomed
Any country that has a political party like APC is doomed
Any country that has citizens such as urself who applaud evil and remain silent in the face of tyranny is doomed

7 Likes

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by geostrata(m): 9:02am On Mar 30, 2017
angry
Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by DONSMITH123(m): 9:03am On Mar 30, 2017
are you kidding me?

1 Like

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by WebSurfer(m): 9:03am On Mar 30, 2017
Nigeria
Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by demarc001: 9:04am On Mar 30, 2017
I naija today, Everybody is a suspect isorite
Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by Nobody: 9:04am On Mar 30, 2017
I have always stated that we run a single party system and and it is a merger of APC and PDP and any other party out there with elements of both.

I will never be surprised...shey nah Nigeria, it is well.

3 Likes

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by SFSNIPER(m): 9:06am On Mar 30, 2017
There is suffering in the land.
Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by Exponental(m): 9:06am On Mar 30, 2017
The fight will be supported now by NGF for Magu's removal.
Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by martineverest(m): 9:07am On Mar 30, 2017
our govs are the biggest thieves in nigeria

2 Likes

Re: EFCC Finds $86m Paris Club Refund In Ngf’s Account by ipobarecriminals: 9:07am On Mar 30, 2017
sad Saraki is a THIEF. Remove Saraki,everything go normal again

1 Like

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