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$2.6b London-paris Club Cash: Governors Face Fresh Probe - Politics - Nairaland

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$2.6b London-paris Club Cash: Governors Face Fresh Probe by dre11(m): 7:27am On Dec 23, 2018
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.”


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

4 Likes

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by midolian(m): 7:29am On Dec 23, 2018
Some governors that did not hire consultants are now alleged to have collected consultancy fess between five and 10 percent for themselves.

Imagine!

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

53 Likes 8 Shares

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by tsephanyah(f): 7:32am On Dec 23, 2018
Governors Playing Cards Against Nigerians with their ultra corruptive mind, I mean really what could go wrong

10 Likes

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by JasonScoolari: 7:35am On Dec 23, 2018
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.







It's so funny how Ibrahim Magu has turn himself into a mere Ekukè dog (Local dog) for the lifeless one and his demonic party. We never had it this bad under Nuhu Ribadu. Just because a large chunk of APC governors who did not hire consultants but collected consultancy fee between 5 and 10 percent are involved in the mess, the EFCC and their well known hypocrisy are contemplating and "considering" to probe.


We are watching.

19 Likes 5 Shares

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by 34webers(m): 7:36am On Dec 23, 2018
I don't know why this report can't stick to one currency for clarity. $183,000 out of the N3.5billion, are we to be reading the report with calculators in our hands? On top the money wey I no know how dem go chop?

In any case, the word "accountability" in public finances is gradually regaining its meaning. Unlike previously when it was so meaningless that stealing even ceased to be a form of corruption.
God bless pmb/pyo led govt where probity and accountability are held in esteem.
Pls no ipob miscreant should quote me, I'm not feeling fine.

36 Likes 4 Shares

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by Tunasco4u(m): 7:43am On Dec 23, 2018
OK
Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by davillian(m): 7:43am On Dec 23, 2018
shocked
Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by MANNABBQGRILLS: 7:43am On Dec 23, 2018
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.

16 Likes 2 Shares

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by oladele00(m): 7:45am On Dec 23, 2018
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

31 Likes 4 Shares

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by aolawale025: 7:45am On Dec 23, 2018
What happened to the previous probes
Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by Rootprof(m): 7:46am On Dec 23, 2018
Nice development. We're now at the season of probe, investigation,arrest. Hope all this will continue after election

2 Likes

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by MANNABBQGRILLS: 7:46am On Dec 23, 2018
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
Amen.

PDP?!
NEVER AGAIN.

36 Likes 5 Shares

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by mykemiley(f): 7:46am On Dec 23, 2018
Governors!!!!! shocked shocked shocked

1 Like

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by mykemiley(f): 7:48am On Dec 23, 2018
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
I Buharilate grin grin grin

13 Likes

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by Flexherbal(m): 7:49am On Dec 23, 2018
Most of our politicians are technically corrupt.

1 Like

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by reuben79: 7:52am On Dec 23, 2018
jst wait and see,only pdp sitting governors efcc will go after them,apc governors ar saint

1 Like

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by Racoon(m): 7:53am On Dec 23, 2018
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
Zamfara, Kogi, Imo and Osun governors were the worst culprits.However, this corruption have always been from the top.AGF was so morally corrupt but the govt kept him on seat.So it's natural but ethically wrong for the governors to follow suit.

3 Likes

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by romenalex: 7:53am On Dec 23, 2018
.
Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by Racoon(m): 7:55am On Dec 23, 2018
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

1 Like

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by Seetto: 7:56am On Dec 23, 2018
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......

3 Likes 1 Share

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by sapoyoro(m): 7:58am On Dec 23, 2018

1 Like

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by 34webers(m): 7:59am On Dec 23, 2018
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......

13 Likes 1 Share

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by Boyooosa(m): 7:59am On Dec 23, 2018
Most of our leaders are fraudsters.
They do business not politics.
They don't have good leadership skills yet they lack conscience to be good fund managers.
One arindin will now come and say that each state should control her resources, own her police and be independent of direct fg influence, is this how they intend to go about it?
I always say that we were too young when we gained indepence, we were not matured at all back then and that, we would have allowed our colonial masters to help us manage our resources till around year 2000, may be we would have a developed country like Dubai. Or even developing country like SA...
Sad! God will punish anyone that still has it in mind to hide under the umbrella of leadership/politics to siphon our 'supposed' national endowment! Amin.

6 Likes

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by sapoyoro(m): 7:59am On Dec 23, 2018
midolian:


Imagine!

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

Buhari or jubrin en Sudan?
positive ,posirive ni

3 Likes

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by Righteousness89(m): 8:06am On Dec 23, 2018
To Be Sincere, Efcc under Magu is a JOKE!
Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by GOFRONT(m): 8:08am On Dec 23, 2018
grin

5 Likes 1 Share

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by 34webers(m): 8:08am On Dec 23, 2018
sapoyoro:

Buhari or jubrin en Sudan?
positive ,posirive ni
He meant jubrin en sudan, even though I prefer the Sudanese jubrin billion times more than the orphan of adamawa. At least this jubrin from sudan has achieved for Nigeria in 3 yrs what the combination of the sholess drunkard of otueke and the fugitive orphan of adamawa cannot achieve in 16 yrs.

11 Likes 1 Share

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by LibertyRep: 8:11am On Dec 23, 2018
What came out of the previous probe?
Next please
Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by helinues: 8:11am On Dec 23, 2018
Irrespective of party, they must be probed. Imagine oo. They diverted the funds and still couldn't paid the consultants that helped them in getting the refunds. Oh lawd of thunder, do something now.

If they could probe them successfully( lots must be found guilty for sure), then I can admit Buhari is really fighting corruption.

2 Likes

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by biggerboyc(m): 8:11am On Dec 23, 2018
This country is sold already imagine some set of people claiming to be a consultant collecting over 350 million dollars. Wow, this country is sold already. Please I want to know what they are really consulting. Please what is the meaning of consultant or consulted ni abi consultation. Heeey ayemi temibami, Corruption ti hit nation. Jesu


Won ti ta Nigeria Mon wa lori

3 Likes

Re: $2.6b London-paris Club Cash: Governors Face Fresh Probe by imam07: 8:12am On Dec 23, 2018
MANNABBQGRILLS:
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.
Two of d top criminals they refused to mention is saraki and gov ahmed. And some idiots will come here and be suppoting those looters who wreck d state.

2 Likes 1 Share

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