Paris Club Refund: Court Orders Akwa Ibom Govt To Deposit N20b In Bank Over Failure To Pay Mauritz Walton Consultancy Fee.

A Federal High Court on Friday ordered Akwa Ibom State government to deposit the sum of N20bn in three banks, namely First Bank, Guaranty Trust Bank and Zenith Bank, respectively, in respect of a suit filed by Mauritz Walton Nig. Ltd against the government.

Mauritz had sued the Minister of Finance, Accountant General of the Federation, Central Bank of Nigeria, and Akwa State government, as the 1, 2, 3, and 4 defendants over the refusal of the government of Akwa Ibom to pay it consultancy fee over the Paris Club Refund.

Mauritz challenged the defendants on ground their refusal to abide by the Court's interlocutory order freezing Akwa Ibom State Paris Club Refund Account, pending the determination of suit filed against the state over refusal to pay it consultancy fee on the Paris Club Refund.

Mauritz dragged the state before the court seeking the attachment of the said amount as a result of the failure of the state government to pay the applicant 30 per cent of the state’s Paris Club refund by the Federal Government being consultancy charge for the services it rendered to the state government in pursuing the refund on behalf of the government.

Justice Gabriel Kolawole gave the order Friday in the suit marked: NO FHC/ABJ/CS/1154/2017.

In a ruling, Justice Kolawole held: "Upon the application of the plaintiff's counsel, Ahmed Rsji, SAN, informing the court of the irregularities on the Defendants Affidavit to show cause as ordered by the court of 30/11/2017; it is hereby ordered as follows:

"That in the absence of any affidavit to show cause, and the one filed by the first defendant having been held to be irregular field, it is the interest of justice that prayer in the plaintiff motion ex parts dated 31/11/17 be granted as prayed to abide the hearing and determination of the plaintiff motion and notice interlocutory injunction which may be held at future date with fourth defendant notice of preliminary objection dated 12/12/17.

"That the said prayer granted shall enable the first, second and third defendants to pay the said sum in prayer five into an interest yielding account with any of these banks: Zenith Bank, GTB PLC, and or First Bank PLC

"That this should be ruling of this court based on the agenda which I have set for today's proceeding on 30/11/17 when the plaintiff ex parts motion was held."

The matter was adjourned till January 30, 2018.

Justice Kolawole had frozen seven accounts linked to Governors’ Forum, which, according to the Economic and Financial Crimes Commission, were used by the Nigerian Governors’ Forum to launder the sum of N10bn said to be derived from the proceeds of the Paris Club refund.

Justice Kolawole directed that the freezing order would last for 45 days within which the EFCC must either institute charges in respect of the transactions against the relevant suspects or apply to the court for an extension of the order.

The judge also gave seven days to the account owners, if interested in seeking the setting aside of the freezing order, to file an application which must be served on the EFCC.

Meet Ibadan's 10 Big Real Estate Players

The real estate sector in Oyo State, especially Ibadan, the capital city, is currently experiencing what could best be described as a mega boom. Thanks to the few investors who saw the vision years back and keyed into it by contributing their quotas to the development of the sector. Kudos also to the Governor Seyi Makinde-led administration in the state for creating an enabling environment (the successive governments couldn't be excused from the success story too). Not only has Makinde's administration created an enabling environment, it has introduced some investors-friendly policies, and as well undertook partnerships that had really helped in bringing about the unprecedented developments in the sector. This has also created room for options for those who are interested in both luxury and low cost estates. Its also explains reasons for the many real estate projects (both completed and ongoing) all over the place. There are developments and construction almost everywhere in Ib

"I Have No Problem With Anybody" - Olodogbo of Odogbo-Ijesha, Tunde Oginni Speaks On The Controversy Surrounding His Traditional Tittle

The name Olatunde Oginni means different things to different people; while some see him as very consistent and a successful businessman, some see him to be too controversial. But from whichever perspective you might like to assess him from, what you cannot take away from him is, his brain and the never die spirit. Also, the philanthropic side of him. He has been making money right from the younger age; by 24/25, Oginni had has companies and properties here and there. Which gave him a kind of upper hand above his peers and since then he has been giving back to the society in his own little way. Today, Olatunde Oginni sits atop a vibrant business empire which include Tiger Beach Limited, Flogin Natural Resources Limited, Tiger Flo Security, Olatunde Oginni Property and many more. Recently, Oginni shared his experience with Dare Adeniran as per his lifestyle as the Olodogbo of Odogbo-Ijesha. He opens up on so many interesting issues and the controversy surrounding his tittle ‘’Olodo

On The Rising Profile Of Juju/Miliki Gospel Singer, Dele Gold.

When it comes to special recognition in the Music industry, there’s always a name that can’t be left out due to his prominence in his unique style of music and the consistency that he has trailed along with it. Dele Gold, the talented musician born Dele Agbeyo is unarguably a talent that’s rare to find in the music industry in this part of the world.

TrendscopeNews

Search This Blog