Home » News » Court orders forfeiture of N500m, $500,000 Paris Club Money traced to Gov. Yari
Governor of Zamfara State and Chairman of the Nigeria Governors’ Forum, ABDULAZIZ YARI.

Court orders forfeiture of N500m, $500,000 Paris Club Money traced to Gov. Yari

A Federal High Court in Abuja has ordered an interim forfeiture of the sums of N500m and $500,000 said to have been looted from the Paris Club refunds made by the Federal Government in favour of the 36 states of the federation.

The sums of money, said to have been recovered from two firms, First Generation Mortgage Bank Limited, and Gosh Projects Limited, were allegedly linked to Governor of Zamfara State and Chairman of the Nigeria Governors’ Forum, ABDULAZIZ YARI.

The Economic and Financial Crimes Commission alleged that the sums of money were fraudulently diverted from the NGF’s bank account on the instruction of YARI.

The commission also alleged, in an affidavit filed in support of its ex parte application seeking the interim forfeiture of the sums of money, that the N500m was diverted to offset YARI’s personal loan obtained from the First Generation Mortgage Bank Limited.

It also alleged that the second firm, Gosh Projects Limited, utilised most of the proceeds of the alleged loot, transferred to it for the purchase of building materials for Zamfara state governor’s 100-room hotel project in Lagos.

Let your voice be heard, leave a comment

We love comments

%d bloggers like this: