PARIS CLUB REFUND: COURT STOPS FG FROM DEDUCTING $418M FROM STATES ACCOUNTS

Paris Club refund: Court stops FG from deducting $418m from states’ accounts

SERAP sues FG over ‘N25bn overdraft taken from CBN’

A Federal high court sitting in Abuja has stopped the federal government from deducting $418m from acccounts of the 36 states of the federation

The court, in a ruling that was delivered by Inyang Ekwo, the judge, ordered FG to suspend the planned action, pending the determination of a suit brought before it by governments of the 36 states.

Last week, Kayode Fayemi, governor of Ekiti, said state governments will not accept arbitrary deductions of funds by the federal government.

Jibrin Okutepa, who led the legal team of the states, told Ekwo that the 36 states would be completely crippled if the FG deduct the huge amount from the bank accounts of the states.

Okutepa said the FG had revealed the plan to deduct the $418 million from the accounts of states every month as part of debts for contracts allegedly executed for the states.

He, however, said that the 36 states’ attorneys-general have read the purported judgment displayed by the FG and found that the states were not parties to the court action which resulted in the judgment debt.

After listening to the arguments of the 36 states, Ekwo refrained the FG from deducting from the states in respect of the purported court judgment until all issues relating to it were fully determined.

Defendants in the matter include the attorney general of the federation, minister of finance, accountant general of the federation and all banks in Nigeria.

While adjourning the matter till November 30, Ekwo ordered the plaintiffs to serve all the relevant court processes on the defendants.

The controversial payment of $418 million to consultants over the Paris Club refund had become a contending issue between the three tiers of government.

Comments

$100 MILLION STOLEN BY HACKERS IN CRYPTO HEIST

Hackers steal nearly $100m in Japan crypto heist IMAGE SOURCE, Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen. Leading Japanese cryptocurrency exchange Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen. The company announced that some of its digital currency wallets have been "compromised." It is the second major theft of cryptocurrencies to take place in recent days. Last week, digital token platform Poly Network was at the centre of a $600m heist. "WE ARE SORRY TO ANNOUNCE THAT #LIQUIDGLOBAL WARM WALLETS WERE COMPROMISED, WE ARE MOVING ASSETS INTO THE COLD WALLET," THE COMPANY SAID ON TWITTER. So-called 'warm' or 'hot' digital wallets are usually based online and designed to allow users to access their cryptocurrencies more easily, while 'cold' wallets are offline and harder to access and therefore usually more secure.

Countries Accepting Nigerians Seeking Second Citizenship

Countries Accepting Nigerians Seeking Second Citizenship Nigerians are able to access the following citizenship and immigration programs: The Caribbean Second Citizenship Programs, Caribbean nations like St. Kitts & Nevis, St. Lucia and Grenada offer second citizenship through their respective Citizenship-by-Investment programs. A holder of one of these passports may travel visa free to about 135 countries, including all European Union countries, the UK, Russia, Turkey, Singapore and Hong Kong. Holding a citizenship from one of these respected countries may also make it easier to obtain residency status or study in other countries, and allows political security and makes it easier to open bank accounts in foreign jurisdictions. To qualify, an applicant needs to be of good reputation and make a government donation of at least $100,000 USD after approval of their citizenship application. Approval of a Citizenship-by-Investment application normally takes about 3 months, and all de

ACTRESS SENTENCED TO SIX MONTHS IN ISLAMIC SCHOOL

Sharia Court Sentences Kannywood Actress To Six Months In Islamic School The actress, Sadiya Haruna was handed the sentence on charges of “indecent social media postings.” Credit: Instagram | Sadiya Haruna The actress, Haruna, a resident of Kabuga Quarters was initially arrested on Friday by the Head of Surveillance Department of Kano State Hisbah Board, Malam Aliyu Usman. She was then detained in the custody of the Islamic police until early Monday when she was brought before the Sharia court sitting in Sharada area of the state. According to the First Information Report (FIR) filed against her, she was alleged to have consistently posted indecent videos in which she was dancing seductively and making sexual comments on her social media handles and YouTube channel. The accused person pleaded guilty to a one-count charge of obscenity and indecent act, which contradicts section 355 of Penal Code Law 2000. The presiding judge, Justice Ali Jibril Danzaki thereafter convicted her a

News, Events and People.

Search This Blog