How Paris Club Refund Debt Payment Was Handled

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The Minister of Justice, Abubakar Malami, has said that
extra-ordinary due diligence was followed in handling the payment
of the 3.2 billion dollars Paris Club refund judgment.

The minister made this known while briefing newsmen on Tuesday
in Abuja.

Mr Malami was responding to reports churned out especially by
online media purportedly alleging “pushing for payment of”’
contradictory and incongruous figures regarding judgment debt and
Paris Club refund.

The judgment debt was based on the action instituted by some
affected Local Governments and ALGON against Federal Government of
Nigeria in suit no: FHC/ABJ/CS/130/13 – LINAS International LTD &
235 ORS V. Federal Government of Nigeria & 3 ORS to recover the 3.2
billion dollars.

Judgment was delivered in favour of the plaintiffs on Dec.
3,2013, consequently upon a Garnishee Order Absolute was granted in
2016 directing the Central Bank of Nigeria (CBN) as Garnishee to
pay amount to Local Governments.

The Garnishee Order was granted by H.B Yusuf (Hon, Justice).

Mr Malami noted that the said judgment was years before
President Muhammadu Buhari came to office and long before he was
made a Minister.

“My initial reaction was to ignore the reports because they
lacked merit as evidenced by not only contradictory submissions but
also a hasty collection of feeble fabrications, unsubstantiated
concoctions and figment of imagination of the writer.

“However, we have to set the record straight and to clear the
mischievous insinuations and misconceptions intended to be the
aftermath of the report.

Mr Malami noted also that his office wrote letters to Law
Enforcement and Security Agencies to conduct independent
investigations on the issue.

“In the final report, the EFCC maintained that the respective
judgments obtained by Riok Nig. Ltd and Edwards & Partners
affirming their entitlements to payments were confirmed by the
records obtained from the respective FCT High Courts”.

“Findings of the investigation of the Law Enforcement and
Security Agency also revealed that there exist a valid consultancy
and legal service agreement between TED EDWARDS and PARTNERS and
Incorporated Trustees of ALGON for the recovery of Local
Government’s share of London Debt Buy Back and Exist from the
federal government’s consolidated revenue fund.

“The facts of the case as revealed in the course of
investigation do not indicate any act(s) of criminality on part of
the parties in the transaction as contained in the submission to my
dated June 13, 2017.

“It is imperative to note that the further request of my office
to security and law enforcement agencies was to have a thorough
investigation of the issue concluded.

He said that as regards to the level of completion of the
contract awarded to RIOK NIG LTD and its physical existence,
verification exercise conducted through the 774 Local Government
Areas in Nigeria confirmed the existence of the projects.

However, while some have been completed, others are at various
stage of completion.

These he said are 182 projects had been completed while 91 are
functional and 33 abandoned.

Others are 205 ongoing, 107 non identified and 178
geographically surveyed projects.

He said that his office rising from a clear historical
antecedent of the role it played in the case of P&ID, remained
steadfast in the sustenance of the public interest which in effect
is saving the federal government from frivolous financial
liabilities.

“The reports and due diligence of the Law Enforcement and
Security agencies provided on this matter speak for themselves as
to the reasonability or otherwise of the mischievous publication by
the Premium Times and Sahara Reporters.

“The fact remains inevitably glaring that their reports are
baseless and mischievous,’’ he concluded. NAN