THE CABLE
The Nigerian government has asked a federal high court in Abuja to void promissory notes issued to consultants with respect to the Paris Club refund.
The suit marked FHC/ABJ/CS/896/2023, was filed by the federal government, the attorney-general of the federation, the minister of finance, budget and national planning and the accountant-general of the federation.
The defendants include FSDH Merchant Bank Limited, Ned Munir Nwoko, Gregory Nangor Lar, Riok Nigeria Limited, Prince Orji Nwafor Orizu, Olaitan Bello, Dr. Ted Iseghohi Edwards, and Panic Alert Security System Limited.
The controversial payment of $418 million to consultants (defendants in the suit) who were engaged by the Nigeria Governors’ Forum (NGF) and the Association of Local Governments of Nigeria (ALGON) has become a contentious issue between the three tiers of government.
On September 27, 2021, the Debt Management Office (DMO) issued 62 promissory notes worth $418,953,668 to the defendants as a result of several judgments and orders of mandamus obtained by the defendants.
The plaintiffs are contending, among others, that the promissory notes are invalid, having been wrongly issued in violation of relevant laws.
They argued that although the promissory notes were executed by the then minister of finance, budget and national planning and the director-general of the DMO, the notes were not signed as required.
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