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Paris Club Refund: FG Moves To Block $418m Payments To Consultants - Politics - Nairaland

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$418m Paris Club Refund: Malami Lied, Actions Self-Serving – Governors / Buhari Halts $418 Million Payment To Consultants On Paris Club Refund / Paris Club Refund: Governors Angry Over N16.67bn Secret Payment To Osun (2) (3) (4)

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Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Islie: 12:31pm On Sep 18
The Nigerian government has asked a federal high court in Abuja to void promissory notes issued to consultants with respect to the Paris Club refund.

The suit marked FHC/ABJ/CS/896/2023, was filed by the federal government, the attorney-general of the federation, the minister of finance, budget and national planning and the accountant-general of the federation.

The defendants include FSDH Merchant Bank Limited, Ned Munir Nwoko, Gregory Nangor Lar, Riok Nigeria Limited, Prince Orji Nwafor Orizu, Olaitan Bello, Dr. Ted Iseghohi Edwards, and Panic Alert Security System Limited.

The controversial payment of $418 million to consultants (defendants in the suit) who were engaged by the Nigeria Governors’ Forum (NGF) and the Association of Local Governments of Nigeria (ALGON) has become a contentious issue between the three tiers of government.

On September 27, 2021, the Debt Management Office (DMO) issued 62 promissory notes worth $418,953,668 to the defendants as a result of several judgments and orders of mandamus obtained by the defendants.

The plaintiffs are contending, among others, that the promissory notes are invalid, having been wrongly issued in violation of relevant laws.

They argued that although the promissory notes were executed by the then minister of finance, budget and national planning and the director-general of the DMO, the notes were not signed as required.

In a supporting affidavit, Oyinlade Koleosho, a principal state counsel in the federal ministry of justice, said the promissory notes were wrongly and invalidly issued against the assets of the federation.

“The promissory notes in issue were wrongly and unlawfully charged on the assets and revenues of the federation instead of the assets and revenues of the states and local governments, who incurred the applicable loans/debts,” the affidavit reads.

The lawyer said sections 314 and 317 of the constitution have separated the assets of a state or local government from the assets of the federation or the federal government of Nigeria.

The plaintiffs also claimed that since the defendants were not engaged by the federal government, there is no valid consideration for the promissory notes issued to them (defendants).

According to court documents, FSDH Merchant Bank Limited was issued 10 promissory notes for a total value of $67,925,661.00, at the rate of $6,499,561.00 per note (allegedly for the benefit of Nwoko).

Gregory Nangor Lar, who is described as Nwoko’s agent, was issued two promissory notes “for the account/benefit of the second defendant (Nwoko) for the total value of $732,511.00 at the rate of $366,256.00 per note”.

Riok Nigeria Limited was issued 10 promissory notes valued at $142,028, 941.00, at the rate of $14,202,895.00 per note.

Orji Nwafor Orizu was issued 10 promissory notes valued at $1,219,440.00 at the rate of $121,944.00 per note.

Olaitan Bello was said to have been issued eight promissory notes valued at $215,195.00 at the rate of $21,524.00 per note.

The documents said Ted Iseghohi Edwards got 10 promissory notes for the value of $159,000,000.00, at the rate of $15,900,000.00.

Panic Alert Security System Limited was also issued 10 promissory notes for the value of $47,831,920.00, at $4,783,192.00 per note.

https://www.thecable.ng/paris-club-refund-fg-moves-to-block-418m-payments-to-consultants/amp

1 Like

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by darling4242(f): 12:34pm On Sep 18
Wetin come concern me?
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by OkpaNsukkaisBae(m): 12:34pm On Sep 18
Renewed Shege

4 Likes

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by wittywriter: 12:38pm On Sep 18
Vagabonds In Power.



Wittyness

6 Likes

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by KingLennon(m): 1:12pm On Sep 18
See how dollars are flying and yet common man no fit chop 3 better square....






I'm thinking satan landed in Nigeria sad. Nothing anybody fit tell me

16 Likes 1 Share

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by b3llo(m): 1:13pm On Sep 18
Frustrate them all

1 Like

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by amalgram69: 1:13pm On Sep 18
Which consultants?
How is it going to get to the common man? cool

7 Likes

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Becoted001(m): 1:13pm On Sep 18
smiley
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Lanre4uonly(m): 1:14pm On Sep 18
If the move to block it is in the best interest of the masses, so be it.

5 Likes

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by OgaTheTop2: 1:14pm On Sep 18
Awon werrey naija government thieves gbogbo.
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Udopasa: 1:14pm On Sep 18
Sharing of National cake in a legal way
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Alliswell248: 1:14pm On Sep 18
OkpaNsukkaisBae:
Renewed Shege

Yes for you......enjoy it.

4 Likes

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Beniyke1: 1:14pm On Sep 18
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by GreaterFuture(m): 1:14pm On Sep 18
Ok
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Risingblue008(m): 1:15pm On Sep 18
grin grin grin

This topic just reminds me of book
Title

THE HUSTLERS-HUSTLER

grin grin grin
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Dikastan: 1:15pm On Sep 18
Sudden death will definitely...all our politicians who have looted this country mercilessly
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Wesido828ca: 1:16pm On Sep 18
That’s huge money
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by FreeStuffsNG: 1:17pm On Sep 18
States and LG should pay their 'consultants'. This is part of the reason Prince Lateef Fagbemi was brought on board. We are gone with the era of AG who will be hands in glove with same people who want to rip off the nation. Nice one by FG. Check my signature for free stuffs!

24 Likes

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Dogalmighty17: 1:17pm On Sep 18
Ned Nwoko? Are we the people who sent him to marry many wives? What he do that government should pay him 68 million dollars?
What the hell is consultancy? How much babalawo go charge? Why didn't government use babalawa? We have plenty of them all over the country.

9 Likes

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by OlusBen1: 1:17pm On Sep 18
thats there share grin
amalgram69:
Which consultants?
How is it going to get to the common man? cool
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Funkyswagzz(m): 1:17pm On Sep 18
They have been on the move to block it since buhari's tenure.
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Freksy(m): 1:19pm On Sep 18
It changes nothing whether it is blocked or not - things will still remain the same, or worse.
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Froshest00(m): 1:21pm On Sep 18
Hmm issoright
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Fiscus105(m): 1:21pm On Sep 18
Whenever other regions rule the nation they spend nation's resources anyhow.

........at the detriment of country.
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Yankee101: 1:22pm On Sep 18
To Malami not any consultants
That guy should be in jail

2 Likes

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by aklid(m): 1:23pm On Sep 18
Greedy bastards
These Paris club funds, we just been hearing bout it upandan…since like 9years ago..
Las las them go still chop am with their families
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Mindlog: 1:23pm On Sep 18
Crook "consultants"
Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Winning123: 1:24pm On Sep 18
I trust President Bola Tinubu. They will not get shishi especially that polygamist by the name Ned Nwokolo.

2 Likes

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Dengoh(m): 1:26pm On Sep 18
Shingbain they won't get

1 Like

Re: Paris Club Refund: FG Moves To Block $418m Payments To Consultants by Buhari4dullard: 1:28pm On Sep 18
The druglord wants to find away to steal the money

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