36 Governors Kick as Finance Minister Approves $418m Payment for Paris Club refund

• Plans to pay a judgment debt of $418 million to consultants who facilitated its London and Paris Clubs’ debt relief has been frowned at by Nigerian governors
• The 36 state leaders tackled the finance minister, Zainab Ahmed, for issuing promissory notes in favour of judgment creditors
• The Nigeria Governors’ Forum (NGF) made this known in a letter dated Monday, August 30, through their lawyer, Femi Falana

Governors of Nigeria’s thirty-six states have kicked against the payment of the controversial $418 million Paris Club refund to consultants who facilitated its debt relief.

The state leaders under the aegis of the Nigeria Governors’ Forum (NGF) queried Zainab Ahmed, finance minister for issuing promissory notes in favour of judgment creditors.

Arise TV reports that the NGF described the issuance of promissory notes despite pending court cases as the height of corruption and lawlessness.

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The 36 governors expressed shock that despite being served court processes, the minister directed the debt management office to issue promissory notes to contractors and consultants.

In another report by Premium Times, the NGF, through their lawyer, Femi Falana, in a letter dated Monday, August 30, explained that Ahmed should have stayed the execution of judgment connected with payments of legal and consultancy fees.

Paris Club refund: State govts, councils battle over $2.6bn

Recall that reports indicated that many governors in Nigeria are yet to disburse the $2.6 billion Paris Club refund to local government councils in their states which is 774 in all.

The federal government embarked on a probe of the funds collected by governors from the Central Bank of Nigeria (CBN).

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Of the 36 states in the country that got the funds, only Kaduna, Niger and Delta were reported to have disbursed the money.

Insecurity, others hindered Nigeria’s economic growth

Meanwhile, Nigeria’s finance minister said the country's latest impressive economic growth would have been better if the country had been more secure.

Ahmed made the statement on Monday, August 30, while addressing journalists in Abuja including a Legit.ng reporter.

She said save for the country’s spate of insecurity that has affected growth in agriculture, the gross domestic product was bound to grow higher than 5.01 percent recorded in the second quarter, as announced by the National Bureau of Statistics.

Source: Legit.ng