Paris Club Refund Unsettles Abia Govt thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
Consulting firms, Mauritz Walton Nigeria Limited and Bizplus Consulting Services Limited, have asked a High Court of the Federal Capital Territory (FCT), Abuja, to order Enugu State Government to pay them N10.2 billion from the Paris Club refund.
The amount formed 20 per cent of the N44.4 billion the firm helped the state to recover from the Federal Government. According to the claimants, the debt was as a result of the defendants’ failure to pay the claimants the agreed 20 per cent consultancy fee for its role in the refund of excess deductions in the Paris Club loans.
Between 2002 and 2007, the Federal Government, through its Federation Account Allocation Committee (FAAC), in collaboration with the 36 states, reconciled the external loans/debts and, in the process, discovered that excess deductions under the first line charge were made to service foreign loans owed by the Federal Government and the states.
By Alex Enumah
A consortium of consulting firms, Mauritz Walton Nigeria Limited, and Bizplus Consulting Services Limited, has asked a High Court of the Federal Capital Territory (FCT) to order the Enugu State Government to pay them the sum of N10.2billion being the debt owed them regarding the Paris Club refund.
The amount forms 20 per cent of the sum of N44. 4billion the firm helped the state to recover from the federal government.
According to the claimants, the debt arose as a result of the defendants failure to pay the claimants the agreed 20 percent of the sum of N44.4 billion, and consultancy fees for its role in the federal government’s refund of excess deductions in the Paris Club loans.