Court Orders 40billion Deduction from Ebonyi Account

today11/22/2022 13

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The Port Harcourt Division of the Federal High Court, has ordered the Central Bank of Nigeria to commence deduction of over N40billion from the Federation Allocation Account, for Ebonyi State Government.

In his ruling, the presiding Judge, Dalyop Pam,  ruled that the State Government should pay the firm, the sum of N118million and other sums for failing to keep to the terms of the contract agreement.

Justice Pam ordered the CBN to withdraw the sum of US29million and another N30billion from the state’s accounts and remit same to the company.

The State Government contracted the company in 2016 to pursue and recover monies illegally deducted on both its foreign and local loans and facilities especially the Paris club refund.

Written by: Helen Obih

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