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EFCC reveals name of governor who built $3m hotel with Paris Club refund

May 14, 2017 12:59 PM
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EFCC reveals name of governor who built $3m hotel with Paris Club refund

According to the Economic and financial Crimes Commission (EFCC) officials in Lagos, the governor building a $3m hotel with Paris club refund to Nigerian states is Governor Yari of Zamfara state.

According to Sahara Reporters, the governor who is the chairman of the Governor’s Forum was said to have illegally diverted N19billion reportedly meant for "consultants" from the Paris club loan refund.

The hotel is said to be a 100-room property situated in Lekki area of Lagos. Also teh anti-graft agency is said to be ready to take over the hotel when the court order is obtained.

Governor Yari also reportedly diverted N500 million from the Paris Club refund to pay off a loan, which he withdrew from the N19 billion Paris Club refund from the account of Nigeria Governors Forum.

Governor Yari transferred the sum to the mortgage bank from which he had borrowed N800m to purchase to properties in 2013.

The governor had allegedly renegotiated his debt from N800m to N500m which he then paid. So far, the total amount the governor is accused of looting is N2.2 billion from the N19billion set aside illegally to pay "consultants."

Source: naij.com

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