Home News EXCLUSIVE: After Manipulating Buhari, Licensed first fee-Frequent Malami, Emefiele Situation To Pay $418million To Ned Nwoko, 5 Other Paris Club Consultants

EXCLUSIVE: After Manipulating Buhari, Licensed first fee-Frequent Malami, Emefiele Situation To Pay $418million To Ned Nwoko, 5 Other Paris Club Consultants

by Good News

The Governor of the Central Financial institution of Nigeria, Godwin Emefiele has lastly accepted the fee of $418 million to Linas Global Ltd, a firm belonging to Prince Ned Nwoko, a broken-down Condominium of Representatives member and various consultants over the Paris Club refund.


SaharaReporters had reported how President Muhammadu Buhari re-accepted the fee of the controversial hundreds and hundreds of bucks in Paris Club refund to some collectors after being manipulated by the Licensed first fee-Frequent of the Federation, Abubakar Malami.

Paperwork considered by SaharaReporters had confirmed that the Debt Administration Situation of job (DMO) on September 27, 2021, issued 10 promissory notes valued at $4,783,192.00 each and each to the collectors.


They had been requested to put up the long-established promissory notes to the CBN for dematerialisation.

A form of that stand to create if the money is paid is Nwoko. The businessman is laying claim to $142,028,941 by potential of a consent judgment he obtained from the Federal Excessive Court in Abuja within the suit marked FHC/ABJ/CS/148/2017.

A agency, Terror Alert Safety Map Restricted, owned by George Uboh, is also laying claim to $47,831,920.


“This Promissory Remark qualifies as a Liquid Asset for liquidity ratio calculation for banks. This Promissory Remark is negotiable and transferable, enviornment to the submission of this long-established Yelp to the Central Financial institution of Nigeria. Holders are also required to put up this long-established Promissory Yelp to the Central Financial institution of Nigeria for dematerialization. At the least, this Promissory Remark ought to be submitted to the Central Financial institution of Nigeria for rate a minimum of two (2) working days prior to the Maturity Date,” one among the paperwork read.


On November 19, 2021, the apex financial institution in a letter to some banks talked about the promissory notes “are no longer admissible or registrable on the scrip-less securities settlement gadget.”


The letter signed by CBN’s Director of Banking Service, Josephine Ajala and addressed to 1 among the financial establishments, Keystone Financial institution, read, “We are in receipt of two letters dated November 17, 2021, out of your location of job, inquiring for for dematerialization of various FGN promissory notes for Prince Orji Nwafor-Orizu totalling $1,219,440: 00 and Barrister Olaitan Bello totalling $215,195: 00.


“Please study that we are unable to accede to your search recordsdata from because currently, Foreign Currency Denominated Promissory Notes are no longer admissible or registrable on the scrip-less securities settlement gadget (54) and as such, ideal Promissory Notes issued in Naira are registered and dematerialized on 54.”

On the different hand in one other letter dated 29th March, 2022 with reference No. GVD/GOV/CON/DGC/210/071 and addressed to Malami, Emefiele talked about the apex financial institution is spicy to pay the hundreds and hundreds of bucks in Paris Club refund to the collectors.

“We, hereby humbly look the route of the HAGF, because the Chief Legislation Officer of the Federation confirming that there are no impediments against honoring the fee of the promissory notes at their maturity dates, or permitting the rediscounting as might perhaps presumably be requested by the beneficiaries in accordance with the President’s approval so that the CBN might perhaps presumably additionally fair proceed to act accordingly,” the letter in my conception signed by the apex financial institution boss read.

“The HAGF would pick a presidential acclaim for the settlement of Paris Club linked judgement debts of states and native governments totalling the sum of USD418.95 million throughout the issuance of promissory notes to 6 judgments collectors.”

On the different hand, sources talked about the unexpected U-turn of the CBN boss might perhaps presumably be linked with his presidential ambition beneath the ruling All Progressives Congress.

“The presidential ambition of Godwin Emefiele and the gubernatorial search recordsdata from of Malami hang pushed them to throw caution to the wind and are brazenly colluding and conniving with fraudsters within the Paris Club claim. Within the subsequent few days, they’re planning to pay out $418 million to those fraudsters calling themselves consultants so that they’ll acquire 50% out of it for their various campaign teams,” a presidential offer told SaharaReporters.

“These are fraudulent funds where Malami and they connived to deceive the Judges to present funny and unsustainable judgments. The associated rate wants to be investigated to build the Nigerian financial system.

“Evidence of fraudulent Minister – Abubakar Malami on the ninth October, 2018 reference No. MJ/CIV/ABJ/440/17 wrote to president Buhari accusing Riok Nigeria Restricted, Ted Iseghohi Edwards of fraud and that the EFCC had indicated them.

“Nigerians, these are the same folks who Malami and Emefiele – the Licensed first fee Frequent of the Federation and Minister of Justice with the Governor of Central Financial institution of Nigeria are pushing frantically for them to be paid $418 million which they’re presupposed to be standing trial.

“The Debt Administration Situation of job is colluding with Malami, Emefiele and others even when the CBN Act forbids this develop of rate, The DMO lady illegally requested the CBN Governor to position off the provision to Fragment 20(5) so that the money might perhaps presumably be stolen and shared by all.

“Ample of this brazen stealing and fraud of our frequent patrimony by about a criminals. God will accumulate if no one in this administration can stand out to be counted.” 


SaharaReporters had in a series of reports exposed huge-ranging legitimacy factors, including non-execution of agreed contracts and backdoor offers raised against the indebtedness from various quarters.


Surely one of many beneficiaries is Dr Ted Iseghohi Edwards, who was indicted by the Financial and Financial Crimes Price (EFCC).


Paperwork considered by SaharaReporters showed that Edwards did no longer teach the Affiliation of Local Governments of Nigeria (ALGON) as claimed.


A letter dated August 1, 2018, by broken-down EFCC Chairman, Ibrahim Magu, to the Ministry of Justice/Licensed first fee Frequent Situation of job, indicted him of an strive to defraud the Nigerian authorities.


It talked about, “The suspects had filed functions in court docket to be joined as one among the judgement collectors throughout the garnishee complaints and the functions had been refused by the Federal Excessive Court. The accumulate in a ruling delivered on the 27th of June 2016 frowned on Dr Ted Edward for brandishing a judgment purportedly delivered by the Federal Capital Territory on 30th October, 2015 and if fact be told, took a swipe at it.


“By the Motion Ex parte filed on the 30th of March, 2015, the judgement collectors utilized for a Garnishee Squawk Nisi which was granted on 1st April, 2015 and mounted the return date for 16th April for the Garnishee to expose build off why the Squawk Nisi need to peaceable no longer be made absolute.


“The Honorable Mediate in his ruling acknowledged unequivocally that ‘let me converse honest away that the substantive topic was commenced by me till I entered judgement on the third of December, 2013. I even hang searched my recordsdata as a lot as the date I entered judgement. I could perhaps presumably additionally no longer salvage the title of Dr Ted Iseghohi Edwards as representing the judgement collectors even for in the end nor did I salvage any activity filed by his laws agency. How then was that judgement prosecuted?’


“One more show highlight is the indisputable truth that in accordance to the purported letter of engagement being bandied by Dr Ted Edwards, he was engaged on September 15, 2011, prolonged prior to the topic was filed in court docket quoting the insist judgment sum.



“What this throws up is the indisputable truth that the talked about letter of engagement was done after third December, 2013 and backdated to manufacture it survey as if the suspect had been engaged prior to the case started. There might perhaps be no longer a proof to masks that the suspect did any work when it comes to the restoration activity.


“A careful survey on the memorandum of settlement between Dr Ted Iseghohi Edwards and Hon. Odunayo Ategbero betrays the conspiracy and an strive to defraud the Federal Govt by the suspects.


“Pending Actions; Invitation and/or Arrest of the suspect, Dr Ted Iseghohi Edwards with a salvage out about of confronting him with the total factors raised within the evaluate above. Tracing and filing intervening time forfeiture insist on any property or asset got with proceeds of fraud by Dr. Ted Iseghahi Edwards.”


SaharaReporters gathered that despite the myth, Malami persuaded Buhari to approve $159 million as true charges to Edward.


They also directed the DMO and the Ministry of Finance to free up the promissory notes to Edwards and others so that they would perchance presumably perhaps additionally fair grab their shares, a offer had talked about.


“Edwards was the Secretary-Frequent of ALGON when the Paris Club refund case FHC/ABJ/CS/130/2013 was done by Joe Agi (SAN) and his colleagues prior to Justice Ademola. It’s sure that he was no longer the attorney to ALGON and this vital ALGON has talked about in writing to Malami and the Chief of Personnel, Gambari,” the provision had told SaharaReporters.


“The EFCC in its myth to Malami and (Ibrahim) Gambari also established that Ted Edwards did no longer teach ALGON and that Ted Edwards in his own handwriting admitted that Joe Agi was the lead counsel for ALGON. He went to 1 Mediate, Baba Yusuf and procured a judgement that he was the attorney to ALGON within the Paris Club refund case.


“But, Malami who knows here’s recommending that Ted Edwards be paid $159,000,000 as charges from ALGON barely than the insist attorney. Will this no longer amount to double rate whenever Mr Joe Agi calls for to be paid? From my investigation, Mr Joe Agi, ALGON and the Nigerian Governors’ Forum hang all long gone inspire to court docket to enviornment the fee of the $418 million including that of Edwards through promissory notes.


“Must Malami no longer grab a second survey on the suit and pickle if if fact be told there might perhaps be any fraud as being widely alleged? As a replacement, he and the Chief of Personnel tricked the President and therefore directed the Debt Administration Situation of job and the Finance Situation of job to free up the promissory notes to Edwards and others so that they’ll grab their shares.


“The total sum of $418 million promissory masks instructed by Malami to be paid is honest a tip of the iceberg of what’s coming except he’s stopped. Nigeria will turn out to be bankrupt prior to President Buhari leaves location of job. The anti-corruption battle of Buhari has been successfully clipped by Malami and Gambari utilizing their great offices to trick the President who if fact be told relied on them.


“All (that is) wished to be done is to allow autonomous of us to battle throughout the total cases concocted on the advice of Malami and the fact will be considered and Nigeria saved of all these big stealing.


“Why is Malami no longer no longer easy any of those court docket judgements? If I could perhaps presumably additionally fair query; in most of all these claims, the EFCC had investigated, taken statements and established that no longer one among the contracts was done. The myth was submitted to Malami and broken-down Minister of Finance, Kemi Adeosun by the Magu-led EFCC (which) instructed the arrest and interrogation of Ted Edwards and one Prince Nicolas Ukachukwu but he and Gambari suppressed the myth.


“The same man instructed to be arrested is who Malami talked about wants to be given $159,000,000. ALGON had written several letters to him and (Kayode) Fayemi, who is the Chairman of the Nigerian Governors’ Forum that every person the jobs done by Edwards and others had been untrue, no longer done. But Malami within the face of this sure case of fraud tricked the President in a memo and talked about judgement was given against them.


“He also negotiated the debt to 50 percent and happy the President to pay to retain away from more damages. It’s high time President Buhari saved his anti-corruption battle by inflicting an intensive investigation of his appointees interested by this huge fraud.”


Others who stand to profit if the money is paid consist of Ned Nwoko, who is laying claim to $142,028,941 by potential of a consent judgment he obtained from the Federal Excessive Court in Abuja within the suit marked FHC/ABJ/CS/148/2017.


Three beneficiaries laying claim to $143,463,577.76 by potential of a judgment of the Federal Capital Territory (FCT) Excessive Court within the suit marked FCT/HC/CV/2129/2014 are: Riok Nigeria Ltd, Orji Nwafor Orizu, and Olaitan Bello.


From the total money, Riok Nigeria Restricted has a half of $142,028,941.95 (about 54 billion), Mr Nwafor is entitled to $1,219,440.45 and Mr Bello has a half of $215,159.36.


A agency, Terror Alert Safety Map Restricted, owned by George Uboh, is also laying claim to $47,831,920 in accordance to 1 other “consent judgment” it obtained in suit number FHC/ABJ/CS/123/2018, which was filed in 2018.

Related Articles