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$418m Paris Club Refunds: 36 State Governors Appeal Judgment

The Paris club refunds are intended to pay off debts owed to consultants hired by the states and local governments in connection with the funds.

An appeal has been filed against a Federal High Court decision dismissing a lawsuit challenging the proposed deduction of $418 million from the Federation Account.

The 36 governors of the United States of America appealed the decision.

The monies will be used to repay consultants who worked for the states and local governments on the Paris Club returns.

On March 25, the Federal High Court in Abuja dismissed a challenge brought by the Attorneys-General of 36 states challenging the Federal Government’s plans to take cash from the federation account to settle a $418 million judgment debt related to the Paris Club reimbursement.

Paris Club Refunds:

 

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In a statement signed by five Senior Advocates of Nigeria, S. I. Ameh, J. S. Okutepa, Dr. Garba Tetengi, Ahmed Raji, and Olumuyiwa Akinboro, the governors made the request through their Attorneys-General.

The governors informed the public and all financial institutions in Nigeria and overseas that the case was under investigation and urged them to avoid interacting with the defendants.

“Be it known that any person or persons who take steps in respect of the promissory notes in the face of the pending appeal do so at their peril,” the statement said, referring to promissory notes issued to them and intended to be discounted and given value from funds due to the states of the federation from the federation account.

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The defendants that the general public is urged not to interact with are Dr Chris Asoluka (doing business as NIPAL Consulting Network, Linas International Limited, Joe Odey Agi, and others, according to the statement (Practising under the name and style of Joe Agi, SAN & Associates).

Riok Nigeria Limited, Prince Nicholas Ukachukwu, Dr Ted Iseghohi Edwards, Panix Alert Security Systems Limited, Dr George Uboh, Ned Munir Nwoko, Prince Orji Orizu, and Olaitan Bello are among those named in the document.

Paris Club Refunds:

In a recent judgment, Justice Inyang Ekwo dismissed the claim filed by the Attorneys-General of the 36 states against the federal government, stating that the Attorneys-General had not presented enough evidence to warrant the lawsuit.

In his ruling, Ekwo stated that there was no specific evidence that the governors of the 36 states agreed to the suit’s submission.
Paris Club Refunds:

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