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

.- 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.

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.

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.