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Saturday, 3 June 2017

Paris Club refunds: Two governors in BIG TROUBLE as EFCC moves to take DRASTIC action

Paris Club refunds: Two governors in BIG TROUBLE as EFCC moves to take DRASTIC action

The EFCC set to approach the court for interim forfeiture of $3 million and N500 million London-Paris club refund money allegedly linked to two governors.

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London-Paris Club refunds: EFCC moves to seize $3m, N500m from two governors

- Two governors may soon lose $3 million and N500 million allegedly linked to them to the EFCC

- The EFCC is set to lay the facts of its probe of the London-Paris Club refunds before the court

- A source said the anti-graft is set to approach the court for interim forfeiture of the monies

A report by The Nation indicates that the Economic and Financial Crimes Commission (EFCC) is set to approach the court for interim forfeiture of $3 million and N500 million Paris refund money allegedly linked to two governors.

Two suspects have been reportedly listed for trial in connection with the $3 million they allegedly laundered for a governor.

A House of Representatives member and his younger brother were implicated on how the cash was laundered through an investment company.

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The serving governor is said to be seeking soft-landing while the House of Representatives member involved has reportedly gone underground.

The second governor allegedly laundered N500 million from the London-Paris Club refunds through a consultancy firm and was fingered in organising a protest march against the Acting Chairman of the anti-graft agency, Ibrahim Magu, in Abuja on Thursday.

A source disclosed that EFCC operatives are already probing how the governor funded the protest which was carried out by an amorphous group called Global Centre for Conscious Living Against Corruption (GLOCCOLAC).

“The cash was openly shared in front of a posh hotel in Abuja with evidence obtained by our detectives. The governor was also sighted at a building near the hotel from where he monitored the protest march.

“Despite the fact that he disguised, intelligence picked him up,” the source said.

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The source, who spoke on condition of anonymity added: “Contrary to the noise being made, we are ready to approach the court for interim forfeiture of $3 million and N500 million linked to two governors through their fronts.

“By the time we file all necessary papers in court, Nigerians will know that we have conducted due diligence in tracking some of the London-Paris Club refunds.

“This is not a case of media trial. Many suspects have appeared before our team and made confessional statements.

Responding to a question, the source stated: “We will apply for the forfeiture of the $3 million and N500 million in order to return them to the treasury. These are public funds allegedly laundered.”

So far, the Presidency had released N1.266.44 trillion to the 36 states in the past one year, including the N713.70 billion special intervention funds to states.

The governors had sought for the loan refunds to states and local governments in a meeting with President Muhammadu Buhari, after which he approved the release of N522.74 billion (first tranche) to states as refunds pending the reconciliation of records.

Finance minister Mrs Kemi Adeosun had said the payment would enable states to offset outstanding salaries and pension which had been “causing considerable hardship”.

However, the money was said to have been mismanaged by some governors and is under investigation.

Of the huge sum, the EFCC earlier traced about N500million, which was meant for a consultant and $3 million to two of the governors.

Also, the EFCC revealed that the Zamfara state governor built a hotel with $3m he stole from London-Paris Club loan refund.

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