Court stops FG from deducting state govts’ monies over $418m Paris Club debt | The Guardian Nigeria News - Nigeria and World News

  • 📰 GuardianNigeria
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 94%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

A Federal High Court, Abuja, on Friday, restrained the Federal Government from deducting monies accruing to the 36 states from federation account to settle 418 million dollars

Justice Inyang Ekwo, who gave the order while counsel to the plaintiffs, Jibrin Okutekpa, SAN, moved the ex-parte motion, held that the restraining order subsists pending the determination of the substantive suit.Some of the defendants listed in the suit include the Attorney-General of the Federation , Accountant General of the Federation and Ministry of Finance.

Others are Central Bank of Nigeria, Debt Management Office, Federation Account Allocation Committee, Incorporated Trustees of Association of Local Government of Nigeria , among others.Although four prayers were sought for, Justice Ekwo granted three in the application. The reliefs sought by Okutekpa include an order of interim injunction, restraining the Federal Government from deducting any money accruing or due to all or any of the 36 states of the federation.

The senior lawyer, who informed the court that the Federal Government had not commenced the deduction of the monies, withdrew the fourth prayer, asking for a refund of the monies deducted.He said despite his clients’ protest against such action, the defendants had vowed to go-ahead with the deduction.Besides, Okutekpa argued that the states were not party to any contract resulting in such debts.Justice Ekwo, who granted the first three prayers, adjourned the matter until Nov.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in LOANS

Loans Loans Latest News, Loans Loans Headlines