Zamfara Gov. Used Paris Club Refund to Build Hotel in Lagos, EFCC Alleges

The Economic and Financial Crimes Commission (EFCC) has accused the Zamfara State Governor and Chairman of the Nigeria Governors’ Forum (NGF), Abdulaziz Yard, of building a hotel in Lagos with monies diverted from the Paris Club refund.
The EFCC told a High Court in Abuja, while arguing a temporary forfeiture order of the sums of N500m and $500,000, that the monies were suspected to have been looted from the account belonging to the NGF.
It also alleged that a firm, Gosh Projects Limited, utilised most of the proceeds of the alleged loot, transferred to it for the purchase of building materials for Yari’s 100-room hotel project in Lagos.
The anti-graft agency said the monies have been looted from the Paris Club refunds made by the Federal Government in favour of the 36 states of the federation.
This is the sums of money, according to the EFCC, said to have been recovered from two companies, First Generation Mortgage Bank Limited, and Gosh Projects Limited, allegedly linked to the Governor.
The EFCC 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 Yard’s personal loans.
Gosh Projects was also said to have used part of the looted funds for the purchase of treasury bills and transfers to offshore accounts.
Meanwhile, Justice Nnamdi Dimgba, was said to ordered interim forfeiture of the said monies.
He made the interim forfeiture order of the sums of money to the Federal Government in a ruling delivered on June 30, 2017.
The Judge also ordered that any person(s) or body with interest in the funds must, within 14 days of the publication of the interim order of forfeiture in any national daily, show cause why an order of final forfeiture to the Federal Government of the funds should not be made.
The ruling was delivered in an ex-parte application jointly filed on June 19, 2017, by the Federal Government of Nigeria (the first applicant) and the EFCC (the second applicant).
First Generation Mortgage Bank Limited and Gosh Projects Limited, from whom the allegedly looted funds were recovered, were joined as respondents.

Author: News Editor

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