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Paris club refund: $418m State Bank Account Suit Adjourned To Dec13

Justice Inyang Ekwo of the federal high court, Monday, adjourned to December 13, for the continuation of hearing in a suit instituted by 36 states.

The States, by the suit, is challenging the bid by the federal government to deduct a sum of 418 million dollars from their bank account.

The sum is planned to be deducted by the government through the office of the Attorney General of the Federation to pay contractors who worked for the state government in the Paris club refund.

At the resumption of proceeding, Monday, Counsel to the states, Jibrin Okutepa SAN, moved a motion for regularisation and for substituted service.

In a bench ruling, Justice Inyang Ekwo, granted the motion to regularize processes filed out of time, as well as granting permission for substituted service on some of the defendants who have allegedly refused to accept court processes/papers.

Also, some of the defendants made efforts to argue their motions praying the court to discharge the order of interim order granted in favour of the states against the deduction of the money by the federal government.

Counsel to two of the defendants Chief Woke Olanipekun SAN and Olusola oke SAN, through oral applications for the court, to discharge the order of injunction.

In their submissions, they premised on the strength of the practice direction of the court, which enshrined that the order of injunction ought to last for 14days.

The FG Counsel posited that after the expiration of the 14 days, the injunction should be deemed as expired and no longer in existence.

However, counsel to the states, Okutepa read out the order in the open court and submitted that until the motion for interlocutory injunction is decided, the interim order shall be in force and binding on all parties.

Reacting, Justice Ekwo cautioned parties in the matter to thread softly, adding that the matter will be diligently determined.

Meantime, the matter is adjourned to December 13 for the court to attend to all pending applications and ordered that fresh hearing notice must be served on the parties.

Speaking shortly after the proceeding, Onyeka Nwokolo who stood for Ned Nwoko and Linas International Ltd, expressed displeasure over the way and manner the Paris club refund was being politicized and used to blackmail some of the defendants.

According to him, the states legitimately on their own volution, issued power of attorney to some of the defendants to pursue the Paris club refund on their behalf.

This is with a condition that 10 percent of the recovered money will be paid, insisting that the power of attorney is binding on the parties.

Nwokolo urged the Plaintiffs to be honourable in implementing the contractual terms rather than foot-dragging.

The senior lawyer revealed that a subsisting judgement of a court of competent jurisdiction has ordered the payment of the money to the contractors after the economic and financial Crimes had investigated and confirmed the authenticity of the contract.

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