Nigeria In One Minute

Governor builds hotel with $3m Paris Club refund cash

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.
The Nation, May 11, 2017

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