Cash lodged in Rep’s account through proxy

EFCC places restriction on NGF’s N8b, $80m

Detectives have traced $ 3 million of the controversial London-Paris Club loan refund to a governor, The Nation learnt yesterday.

The cash is believed to be part of the N19billion illegally deducted from the refund by the Nigeria Governors Forum (NGF), according to Economic and Financial Crimes Commission (EFCC) sources.



The cash has been found in the account of a member of the House of Representatives who got it through a proxy, the lawmaker’s brother. Both were not available for comments.

The $3million is being spent on building a 100-room hotel in Lagos, which the governor may forfeit to the Federal Government.

Also, the EFCC has placed a restriction on N8billion and $80million in the naira and dollar accounts of the NGF.

The Presidency has released N1. 266.44trillion to the 36 states in the past one year. The cash includes N713.70billion special intervention funds to states.

Following protests by states against over deduction for external debt service between 1995 and 2002, President Muhammadu Buhari had approved the release of N522.74 billion (first tranche) to states as refund pending reconciliation of records.

Each state was entitled to a cap of N14.5 billion being 25% of the amounts claimed.



Finance Minister Mrs. Kemi Adeosun said the payment would enable states to offset outstanding salaries and pension which had been “causing considerable hardship”.

The governors sought for the refund to states and local governments at a meeting with President Buhari on May 24, last year.

A source, who spoke in confidence with our correspondent, 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 was said to have wired the $3million into his brother’s account before moving it into his own.

“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,” the source said.

The $3million was transferred to the lawmaker for the governor from the $86million in the NGF’s domiciliary account.

“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 said, pleading not to be named so as not to jeopardise the investigation.

The $86million is said to be for the payment of consultants who worked for the refund for the 35 states. But none of the consultants has been paid. Some of them have already gone to court.

The source added: “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.

“We want the NGF to involve the EFCC in the disbursement to avoid another diversion of the cash. As it is now, consultants and legal advisers are complaining that they are being shortchanged by the governors.”

The EFCC had earlier traced about N500million, which was meant for a consultant, to the account of a governor.

The cash has been retrieved



http://thenationonlineng.net/governor-builds-hotel-3m-paris-club-refund-cash/

oloriburuku ni awon governors yi sha

The governors are just too corrupt

Governors can grow or kill any nation.

The boldness in the face of the the hardships ​people are going​ through.

Why not telling us the name of the governor?

The governors are more closer to us than the president

Why do we leave them put of the blame game

We need to whip them in other to sit them up

Of all things to build, its a hotel. How about use that money to start an industry that will give jobs to thousands of youths? #Blockheads

Bin

kingthreatz:
Of all things to build, its a hotel. How about use that money to start an industry that will give jobs to thousands of youths? #Blockheads

Take a closer look at almost all the billionaires in other continents, they made their wealth through innovations, in other words, tech, science etc. In Nigeria, billionaires are either politicians , their cronies and friends holding onto power and looting of public funds. These people lack creative mind and sit on tight to those who exhibit that might. quite pathetic.

kingthreatz:
Of all things to build, its a hotel. How about use that money to start an industry that will give jobs to thousands of youths? #Blockheads

****hotel will also create employment . 100 rooms will provide approximately 40 staffs

skedman:
you are the one with a block head ,hotel will also create employment . 100 rooms will provide approximately 40 staffs

**** How can you compare hotel to industries?
$3 million can create over 500 jobs instead of the 40 jobs you are shouting

These airheads won't stop misbehaving.

skedman:
you are the one with a block head ,hotel will also create employment . 100 rooms will provide approximately 40 staffs

Really 40 staffs I see how did you come up this? 40 is better than 200 ?

kayusely70:
The governors are just too corrupt

is this how you waste your resources

Nigeria leaders are just there to loot, loot and loots...that is d only thing they can do.

You see why every political office holders shld b subjected to psychological test before even being allowed to contest.

I'm sure it's Okowa.... Don't ask how I arrived at that...

I'm very sure it must be benue state governor
Thief Samuel ortom

skedman:
you are the one with a block head ,hotel will also create employment . 100 rooms will provide approximately 40 staffs

You just cant see the big picture even if they put a gun to your head .SMH

Can't a governor win bet9ja in peace again?

TwoBottles:
Can't a governor win bet9ja in peace again?

Win bet Naija at the expense of the masses? That's a terrible win if you ask me.

Won ki fi owo ekun ra oja erin

Don't you think you should quit drinking?TwoBottles is too much for you. Thank me later

TwoBottles:
Can't a governor win bet9ja in peace again?

We don't expose bigger thieves. Only smaller thieves rot in jail.

Tolexander:
Why not telling us the name of the governor?

The corruption in this country is endemic. I have lost words to describe our evil leaders and some corrupt Nigerians

OAUTemitayo:
Mumu. How can you compare hotel to industries?
$3 million can create over 500 jobs instead of the 40 jobs you are shouting

i am not supporting the governor for stealing the treasury but the fact that he has invested it in nigeria however,it is a plus. All these half baked graduate on nairaland employment opportunities is not just the staffs alone it include the contractors that built the hotel who may have more than 50 staffs,the sand suppliers,borehole,aluminium, and lots more and when the hotel is finally ready the diesel suppliers,fish,turkey, chicken suppliers , the market people at large ,apprentice and many others will benefit . Can you now tell me the jobs it must have created for the people . I think most of you are lazy and your brain is only limited to being a staff and not a supplier nor a contractor.

I guess they can't mention the governor and his cronies because of the stupid immunity clause. That clause should have a clause that "if an organ of government investigates and finds you culpable of a serious crime such as corruption and murder, you should be impeached and tried."

I am really of the opinion that the Singaporean style is the way to go in this country.

Many of these governors are the reason why i am skeptical about the potentials of federalism in this country.

sarrki:
The governors are more closer to us than the president

Why do we leave them put of the blame game

We need to whip them in other to sit them up

hence the call for true federalism,the need to bring power closer to the people so they can effectively hold their leaders accountable, how can 1 person steal $3M like its nothing, and if not for EFCC no one would notice, but nay, the enemies of progress aka northern power house as usual are against change because they are the ultimate benefactors of the corrupt system we practice, quota system, unitary style where they receive undue allocation from the resources of other regions based on phantom population and land mass, and what are our reps doing about it?nothing...

Na 6ft under ground go end am ...

If you cant name the governor, keep quiet with your speculations