Judgement Debt: Nwoko’s Company To Get $68m Consultancy Fees

Following the ongoing payment of judgement debt by the federal government, the Ned Munir Nwoko’s company, Linas international limited would get a total sum of $68,658.192.83 as consultancy fees.

The solicitor-general of the Federation, Dayo Apata, stated this in a memo issued to the Federal Inland Revenue Service (FIRS), following an enquiry.

In the memo dated 25th August, 2020 and addressed to the executive chairman of FIRS, the solicitor-general said the $68,658.192.83 will be paid to Linas International Ltd as legal/consultancy fees deducted from states reimbursement in respect of final claim of Paris Club Loan.

The memo reads, “Kindly refer to your correspondence dated 7th August 2020 with Ref No FIRS/RAD/TRPP/CR/2858/19/137, copied to my office, as well as our previous correspondences dated 14th January 2019 and 26th February 2019 with Ref. No: MCIV/ABJ/104/17, in respect  of the above subject-matter.

“I am directed to inform you that the federal government of Nigeria is currently working out modalities for the payment of the sum of USS68,658,192.83 to satisfy a judgment debt in favour of Hon. Ned Munir Nwoko, who is the Alter Ego of Linas International Limited (being the subject of your inquiry)”.

“The foregoing statement in paragraph 2 above is for the purpose of your inquiry and mandate alone, as same cannot be utilized for any other purpose without the written consent of the undersigned,” the solicitor general said.

Further inquiry from the ministry of Finance reveals that the federal government will soon issue Mr. Nwoko with promissory notes in lieu of cash transfer to enable him discount same for immediate cash benefit since the FGN is presently grappling with liquidity crunch owing to the dwindling oil revenue arising from low oil prices and the devastating effects of the COVID -19 pandemic.