Tag "Paris Club loan refund"

    We can’t disclose how states spent N388.3bn Paris club refund, says FG

We can’t disclose how states spent N388.3bn Paris club refund, says FG

Ahmed Idris, accountant general of the federation, says N388.304 billion spending of London Paris club loan refunds by 35 states “is protected by professional privilege, and therefore confidential.” Idris said this in response to a suit filed by Socio-Economic Rights and Accountability Project (SERAP). The federal government released N388.304 billion of the N522.74 billion to 35 states as refunds of over-deductions on London-Paris [...]

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    Ekiti gets N4.7bn, Abia N5.7bn as another tranche of Paris Club loan refund is released

Ekiti gets N4.7bn, Abia N5.7bn as another tranche of Paris Club loan refund is released

The ministry of finance has released another tranche of Paris Club loan refund to two states. Although the ministry is yet to release full details regarding the funds, it was learnt that Ekiti state got N4.772 billion while Abia got N5.715 billion. The refund is as a result of over-deductions from statutory financial allocations to the 36 states between 1995 and 2005 [...]

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    Governors: We’ll pay salaries when 2nd Paris Club fund is released

Governors: We’ll pay salaries when 2nd Paris Club fund is released

‎Nigerian governors say they will offset a backlog of salaries and allowances owed their workers as soon as a second tranche of funds from the Paris Club loan refund is released. The refund is as a result of over-deductions from statutory financial allocations to the 36 states between 1995 and 2005 for debt servicing. The first tranche of N388bn was released to [...]

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    SERAP sues FG over disbursement of Paris loan refund

SERAP sues FG over disbursement of Paris loan refund

The Socio-Economic Rights and Accountability Project (SERAP) has asked the federal high court in Lagos to give an order compelling the federal government to publish details of the N388.304 billion Paris Club refund. The funds were allegedly said to be diverted and mismanaged by 35 states. In the suit marked FCH/CS/523/17 and filed on Monday, SERAP wants Abubakar Malami, attorney-general of the [...]

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    Paris Club refund paid to state govts NOT Saraki, seven ex-govs

Paris Club refund paid to state govts NOT Saraki, seven ex-govs

Reports of Senate President Bukola Saraki’s alleged complicity in the pilfering of parts of the Paris Club loan refund rippled with a strong current on Monday. The Economic and Financial Crimes Commission (EFCC) had leaked a report vicariously indicting him of money laundering. According to the report, Saraki’s aides and Robert Mbonu, his associate, diverted N3.5bn of the funds. The Nigeria Governors’ Forum [...]

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    Governors: We’ve done nothing illegal as far as Paris Club refund is concerned

Governors: We’ve done nothing illegal as far as Paris Club refund is concerned

The Nigeria Governors’ Forum (NGF) says there is no illegality in the disbursement of the Paris Club loan refund. The refund was a result of over-deductions from the statutory allocations of the states for debt-servicing from 1995 to 2002. The forum was reacting to reports that the Economic and Financial Crimes Commission (EFCC) had indicted Senate President Bukola Saraki, his aides, and [...]

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    EFCC: How Saraki, aides laundered N3.5bn Paris Club loan refund

EFCC: How Saraki, aides laundered N3.5bn Paris Club loan refund

The Economic and Financial Crimes Commission (EFCC) has alleged that Senate President Bukola Saraki and some of his aides laundered N3.5bn Paris Club loan refund. The N3.5bn was allegedly part of the N522bn loan refund disbursed to all the states of the federation in December. The refund was as a result of over-deductions from the statutory allocations of the states for [...]

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