• About Us
  • Submit Songs
  • DISCLAIMER
  • DCMA
  • PRIVACY POLICY
  • Contact us
Saturday, August 23, 2025
illuminaija
No Result
View All Result
  • Home
  • Music
  • Videos
    • Comedy Videos
    • Movies
  • Foreign Music
  • Biography
  • Net Worth
  • Relationship lifestyle
  • Dj Mix
  • Instrumentals
  • News
  • Albums
  • DCMA
  • Contact us
  • Home
  • Music
  • Videos
    • Comedy Videos
    • Movies
  • Foreign Music
  • Biography
  • Net Worth
  • Relationship lifestyle
  • Dj Mix
  • Instrumentals
  • News
  • Albums
  • DCMA
  • Contact us
No Result
View All Result
illuminaija
No Result
View All Result
  • Home
  • Music
  • Videos
  • Foreign Music
  • Biography
  • Net Worth
  • Relationship lifestyle
  • Dj Mix
  • Instrumentals
  • News
  • Albums
  • DCMA
  • Contact us
Home Headlines

EFCC finds $86m Paris Club refund in NGF’s account

by Naira
March 30, 2017
in Headlines

image

MORE cash believed to be part of the London-Paris Club loan refund has been found by  the Economic and Financial Crimes Commission (EFCC).

The US$86,546,526.65 was remitted into the account of the Nigerian Governors Forum (NGF).

The account is said to have been depleted to about $17million as at the time the probe started.

The EFCC is probing how the cash got into the account, who remitted it and for what purpose.

“The cash was paid into the forum’s domiciliary account in GTB tagged: 0023577047 with sort code 058083215,” the source said, adding that the payment followed a November 21, 2016 memo on the remittance into the NGF’s account which was titled “Consultants fee”.

The cash was described as consultancy and legal fees as the case with the N19 billion which was allegedly diverted from the refund.

“This development has justified the earlier peg of our investigation that the part of the London-Paris Club loan refunds was paid into two accounts of the NGF” the source said, pleading not to be named because he has no authority to talk to the media.

“Operatives are tracking how the $86.5m was used and for what purpose. We want to know whether the affected financial and legal consultants exist or not.”

The Nation had exclusively reported that the Presidency was uncomfortable with how some governors managed the refund.

The Federal Government released N522.74 billion to 35 states as refund of over-deductions on London-Paris Club loans.

President Muhammadu Buhari directed the release of the refund to enable states to pay salaries and pensions.

But more than N19billion of the refund has been enmeshed in controversy over payment of consultancy fees. Some consultants were yet to be paid as at press time.

Some of the infractions noticeable in the management of the first tranche of the London-Paris Club loan refund are:

computation of state records done at a private home in Maitama, Abuja;
accounts initially opened in the names of two lead consultants but the details of who to be paid were later changed;
N19b remitted into two NGF accounts;
commission to consultants cut from 10% to 2% but 5% was on paper as paid;
the CBN paid directly to each state without the knowledge of the Accountant-General of the Federation; and
part of the N19b commission was traced to a governor’s account and some individuals, including some members of the National Assembly.
It was also discovered that besides the central consultants, governors hired other consultants, with some conceding about 10-20% commission to them.

In some states, governors served as consultants through proxies.

Some consultants are yet to be paid because the NGF changed the commission formula as soon as the first tranche was remitted, The Nation learnt.

Besides, some governors deviated from using 25 per cent  to 50 per cent for payment of outstanding salaries and pension as agreed with President Buhari.

Real Madrid kits 24-2025 For Dream League Soccer 2025
Tools

Real Madrid kits 24-2025 For Dream League Soccer 2025

Tools

First Touch Soccer 2025 (FTS 25) Mod Apk Obb Data Download

Tools

GTA 5 Apk Obb Data Latest Download For Android

ShareTweetPinSend
Previous Post

The Voice Nigeria 2017 Audition Venue & Dates

Next Post

SaGaey to senators: you’ve no power to summon me

Naira

Naira

Related Posts

Heartbreaking Photos Of Ex Liverpool, And Cameroon Player Rigobert Song At The hospital

Heartbreaking Photos Of Ex Liverpool, And Cameroon Player Rigobert Song At The hospital

Confusion as two police commissioners emerge in Lagos

Confusion as two police commissioners emerge in Lagos

Zenith Basketball league dunks off April 10 in Abuja, N35m committed

Zenith Basketball league dunks off April 10 in Abuja, N35m committed

Why Atiku’s plane was searched – Aviation Minister

Why Atiku’s plane was searched – Aviation Minister

One in five Germans now has immigrant background

One in five Germans now has immigrant background

Kidnappers invade Ikotun/Igando, abduct 5, vow to get 150 more people

Kidnappers invade Ikotun/Igando, abduct 5, vow to get 150 more people

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Recent Posts

Sannere – Ka Semate Letebele Ft Maleboo

DOWNLOAD Sannere – Ka Semate Letebele Ft Maleboo mp3

Sannere – Ts’epo eaka Ft Thabisang

DOWNLOAD Sannere – Ts’epo eaka Ft Thabisang mp3

Starr Healer – Allowance Ft Lwah Ndlunkulu

DOWNLOAD Starr Healer – Allowance Ft Lwah Ndlunkulu mp3

DOWNLOAD SlimmyNDM – F The Gatekeepers mp3

DOWNLOAD SlimmyNDM – F The Gatekeepers mp3

DOWNLOAD Balloranking – Forget Ft. Richie Campbell mp3

DOWNLOAD Balloranking – Forget Ft. Richie Campbell mp3

Trending Posts

Scholarships in Canada for International Students
Scholarship

Scholarships in Canada for International Students

Best USA Jobs for Immigrants – Work In USA The majority of foreign students find it difficult to fund their...

Read moreDetails
See Benefits of Canadian Open Work Permit for Spouse
Jobs

See Benefits of Canadian Open Work Permit for Spouse

See Benefits of Canadian Open Work Permit for Spouse Most Foreigners who are in Canada waiting for their spouse or...

Read moreDetails
Jobs : English teacher – college level needed in Canada by Okanagan College
Jobs

Jobs : English teacher – college level needed in Canada by Okanagan College

Jobs : English teacher – college level needed in Canada by Okanagan College DETAILS ABOUT THIS JOB English teachers are...

Read moreDetails
Pet Store Salesperson Need in Canada up to $3000 – Apply Now
Jobs

Pet Store Salesperson Need in Canada up to $3000 – Apply Now

If you are a lover of pets and want to make money, migrate to Canada Visa Free and work over...

Read moreDetails
2023/2024 International MBA Scholarship Award in the USA & Canada
Scholarship

2023/2024 International MBA Scholarship Award in the USA & Canada

2022/2023 International MBA Scholarship Award in the USA & Canada Hurray! Applications are now open for the 2023 International MBA...

Read moreDetails
NPC Recruitment Portal 2023 Is Open
Jobs

NPC Recruitment Portal 2023 Is Open

NPC Adhoc Staff Recruitment 2023 Application Form Portal (Apply Now) NPC Recruitment Portal 2023 Is Open: 2023censusadhocrecruitment.nationalpopulation.gov.ng Are you in...

Read moreDetails
Scholarship : Latest McCall MacBain Study Award for International Students in Canada 2024
Scholarship

Scholarship : Latest McCall MacBain Study Award for International Students in Canada 2024

Scholarship : Latest McCall MacBain Study Award for International Students in Canada 2023 Great offer! Scholarships are an excellent way to offset...

Read moreDetails
Canada Immigration : 2023 CANADA EXPRESS ENTRY DRAW
Jobs

Canada Immigration : 2023 CANADA EXPRESS ENTRY DRAW

Canada Immigration : 2022 CANADA EXPRESS ENTRY DRAW Did You Know Canada invited 589 candidates in the federal Express Entry...

Read moreDetails
Scholarship :Fully Funded Maynooth University Departmental Doctoral Scholarship Grants 2023-2024
Scholarship

Scholarship :Fully Funded Maynooth University Departmental Doctoral Scholarship Grants 2023-2024

Scholarship :Fully Funded Maynooth University Departmental Doctoral Scholarship Grants 2023-2023 Are you looking for a Fully Funded scholarship to pursue...

Read moreDetails
Truck Driver, Tractor-Trailer Jobs in Canada– (Salary – $4,000 Per Month)
Jobs

Truck Driver, Tractor-Trailer Jobs in Canada– (Salary – $4,000 Per Month)

LocationLethbridge, AB  Salary$4,000 monthly for 40 hours per week Minimum wage is guaranteed  Terms of employment: Permanent employment Full time  Day, Shift, Early Morning,...

Read moreDetails
  • About Us
  • Submit Songs
  • DISCLAIMER
  • DCMA
  • PRIVACY POLICY
  • Contact us

© 2023 illuminaija

No Result
View All Result
  • Home
  • Music
  • Videos
    • Comedy Videos
    • Movies
  • Foreign Music
  • Biography
  • Net Worth
  • Relationship lifestyle
  • Dj Mix
  • Instrumentals
  • News
  • Albums
  • DCMA
  • Contact us

© 2023 illuminaija