A report by The Nation indicates that eagle-eyed EFCC officials have traced $3 million of the controversial London-Paris Club loan refund to a governor. According to the report, the cash is believed to be part of the N19billion illegally deducted from the refund by the NGF.
Reports gathered that the cash was found in the account of a member of the House of Representatives who got it through a proxy, the lawmaker’s brother. The $3million is being spent on building a 100-room hotel in Lagos, which the governor may forfeit to the federal government.
Also, the EFCC has placed a restriction on N8billion and $80million in the naira and dollar accounts of the NGF.bA source quoted in the report, said: “The EFCC is still investigating the N19billion allegedly diverted from the loan refund. The commission has so far interrogated 15 companies, more than 10 individuals and over eight bureaux de change used to divert the cash.
“The latest bend of the investigation is the discovery of$3million linked with another governor who benefited from the illegal deduction. The governor had engaged a member of the House of Representatives (who was also a former commissioner) to launder his share.”The lawmaker was said to have wired the $3million into his brother’s account before moving it into his own.
“Upon interrogation, one of the suspects admitted that the cash was for the ongoing construction of a 100-room hotel for the governor.“About $500,000 of the $3million has been recovered by the EFCC. It is a scam in which many people benefited and a sizeable number of proxies used to launder the funds.“We will do our best to recover the already diverted part ofthe $3million. We may also apply for the forfeiture of the hotel to the federal government.”