Friday, 12 May 2017

EFCC reportedly closes in on governor who allegedly used $3m Paris Club refund cash for hotel building project

<img src=" EFCC-reportedly-closing-in-on-governor-who-allegedly-used-$3m-Paris-Club-refund-cash-for-hotel-building-project .gif" alt=" EFCC reportedly closes in on governor who allegedly used $3m Paris Club refund cash for hotel building project > </p>

Report from The Nation revealed that EFCC officials have traced $3 million of the controversial London-Paris Club loan refund to a yet to be disclosed governor.

According to the report, the fund is being alleged to be part of the N19billion illicitly deducted from the refund by the NGF.

It was learnt that the cash was discovered in the account of a member of the House of Reps who received it through a proxy, the so called lawmaker’s brother.

The $3million is being used on building construction of a 100-room hotel in Lagos, which the yet to be revealed governor may have to forfeit to federal government.
Meanwhile, the EFCC has placed a restriction order on N8billion and $80million in the naira and dollar accounts of the NGF.

A source quoted in the report thus said; “The EFCC is still investigating the N19billion allegedly diverted from the loan refund. The commission has so far interrogated 15 companies, more than 10 individuals and over eight bureaux de change used to divert the cash”.

“The latest bend of the investigation is the discovery of $3million linked with another governor who benefited from the illegal deduction. The governor had engaged a member of the House of Representatives (who was also a former commissioner) to launder his share”.

“The lawmaker reportedly was said to have wired the $3million into his brother’s account before moving it into his own account”. Upon interrogation, one of the suspects admitted that the cash was for the ongoing construction of a 100-room hotel for the governor”.

“About $500,000 of the $3million has been recovered by the EFCC. It is a scam in which many people benefited and a sizeable number of proxies used to launder the funds. We will do our best to recover the already diverted part of the $3million. We may also apply for the forfeiture of the hotel to the federal government.”

The source further said that the EFCC has placed a Post No Debit restriction on the NGF’s account with N8billion and domiciliary account with $80million. “Out of the $86million, $3million was wired to the governor through a proxy and another $2million shared out.

“The EFCC is ready to lift the restriction on the two accounts of the NGF on a condition that the consultants and legal advisers who deserve to be paid will be given what they are entitled to in line with the agreement signed with the NGF.

Recall that EFCC had earlier traced about N500million, which was meant for a consultant, to the account of yet to be revealed governor.

However, the cash has been retrieved. Recall that the presidency has released N1. 266.44trillion to all the 36 states in the past one year. The cash includes N713.70billion special intervention funds to all states of the federation.

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

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