Senior Advocate of Nigeria, Patrick Ikwueto, has alleged what he described as “disturbing” consultant enrichment schemes surrounding the much-talked-about Paris Club refund.
The allegation is contained in a letter to the Attorney General of the Federation, signed by the senior lawyer, who is acting as solicitor to GSCLBIZ Plus Consortium.
The letter comes amid a rebuttal by Senator Ned Nwoko, who denied any fresh claims linked to him regarding the Paris Club refund, ThisDay reports.
What the Law Firm Is Saying
According to the letter dated April 15, 2026, and obtained by Nairametrics on Tuesday, the lawyer argued that his client was duly engaged by the Nigeria Governors’ Forum (NGF) to render specialised consultancy services over a period exceeding a decade, spanning the tenure of four successive chairmen of the NGF.
He claimed that, in the course of these engagements, his client facilitated recoveries in excess of $10 billion for the benefit of the states, thereby materially sustaining their fiscal stability, particularly during periods of economic downturn.
- He further argued that “all obligations relating to the Paris Club were conclusively reconciled and discharged under the administration of President Olusegun Obasanjo.”
The senior lawyer stressed that these reconciliations were undertaken by the Federal Ministry of Finance, the Debt Management Office (DMO), and the Office of the Accountant-General of the Federation in the proper discharge of their statutory mandates.
The letter partly reads:
- “We now formally bring to your attention credible and disturbing information regarding persistent misrepresentations, material distortions, and coordinated fraudulent schemes being advanced under the guise of London and Paris Club refund claims.
- “These schemes appear calculated to unjustly enrich certain parties at the expense of both the Federal and State Governments, notwithstanding that sums in excess of $250 million have already been paid in respect of such claims. We are further reliably informed of an additional and highly questionable claim in the sum of $400 million presently being pursued.”
The senior lawyer urged the Attorney General of the Federation to constitute a high-level inter-agency verification committee comprising representatives of the Federal Ministry of Finance, the Debt Management Office, the Office of the Accountant-General of the Federation, the Nigeria Governors’ Forum, the Economic and Financial Crimes Commission (EFCC), the Department of State Services (DSS), and all consultants previously engaged in the matter.
He explained that this step is necessary to safeguard public funds, prevent further alleged unwarranted claims, and conclusively determine the validity of the ongoing demands, including identifying any subsisting court judgment governing the matter.
According to him, failure to subject these claims to rigorous verification exposes the Federal Government to significant and unjustified financial liabilities.
Backstory
The Paris Club refunds were payments of over-deductions made from the Federal Account Allocation Committee (FAAC) for external debt servicing between 1995 and 2002.
- The Paris Club is an informal group of lenders formed in 1956, with its headquarters in Paris.
- The group was established to coordinate the management of debts owed to its member countries by developing nations.
- Nigeria reached an agreement with the club in 2005 to pay off $12 billion in exchange for the club writing off its debt.
The issue of Paris Club obligations and deductions has been a major source of disagreement between the Federal Government and state governments for many years.
What You Should Know
In 2021, the Federal High Court sitting in Abuja stopped the Federal Government at the time from its planned deduction of $418 million in Paris Club refunds from the accounts of state and local governments.
This followed a court case instituted by the Nigeria Governors’ Forum against the Federal Government, in a bid to stop the payment of the controversial sum to consultants.
Nairametrics previously reported that, four years ago, officials of the Federal Ministry of Finance informed state government representatives of the Federal Government’s plan to commence the deduction of $418 million from the accounts of states and local governments.
This led to a deadlock at the Federation Account Allocation Committee (FAAC) meeting following the states’ opposition to the commencement of the deduction.
The Chairman of the Nigeria Governors’ Forum and former Governor of Ekiti State, Kayode Fayemi, stated that state governments opposed the Federal Government’s plan to make deductions from the federation account to pay private consultants for the Paris Club refund, as the move was projected to affect the recurrent expenditure of at least 33 states, which might struggle to pay workers’ salaries.
The Federal Government later bowed to pressure, reaching an agreement with the state governments to suspend the deduction of the $418 million Paris Club refunds from their accounts pending the determination of court cases on the matter.
