NGF Welcomes Freezing of Bank account linked to Paris Club Consultant
The Nigeria Governors Forum says the freezing of a bank account linked to a Paris Club consultant, Panic Alert Security System Limited is for the benefit of the citizenry as the forum will not pay for unverified work.
The Head of Media and Public Affairs of the Nigeria Governors Forum, Mr. Abdulrazaque Bello-Barkindo stated this on Monday in an interview with Radio.
Mr. Bello-Barkindo also explained that everyone or company involved in the negotiation of the funds from the Paris club had been paid.
On Friday August 12, a Federal Capital Territory High Court ordered the freezing of the bank account linked to the consultant over an alleged breach of contract, after the secret payment of N4bn.
A Senior Advocate of Nigeria, Ikechukwu Ezechukwu had in a suit urged the court to freeze the bank account domiciled in a commercial bank linked to the company pending the hearing and determination of the motion on notice filed in the suit
He had accused Panic Alert Security System of failing to pay a legal fee despite receiving N4bn as Paris Club refund-related judgment debt from the Nigerian government.
Meanwhile, President Muhammadu Buhari directed the Minister of Finance, Zainab Ahmed to suspend plans to deduct $418mn from the federation account to settle consultants over the controversial Paris Club debt.
The President gave the directive during the federal executive council meeting of August 3, where the matter was discussed.
Following the decision, the state Governors raised an alarm over the alleged attempt to commence the deduction to effect payment to four contractors who allegedly executed contracts in respect of the Paris Club refunds to the states and local governments.
June 29, 2005, the Paris Club approved $18bn as debt relieve package for Nigeria
The Paris Club is an informal group of official money lenders formed in 1956 with its Secretariat in Paris. It is a voluntary gathering of creditor countries willing to treat in a coordinated way, the debt due to them by developing countries
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