$9.6bn Judgment: FG Alleges Targeted Fraud On Nigeria’s Foreign Reserve - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
August 30, 2019
The Federal Government has allegedthat the awarded 9.6 billion dollar judgment debt against Nigeria over abotched gas contract is a calculated attempt by international and localscammers to deplete the country’s rising foreign reserves.
The Minister of Information andCulture, Lai Mohammed, made the allegation on Friday when he featured on a TVContinental programme: “This Morning’’.
“Anytime the foreign reserves of thecountry is rising, there is always this attempt by vultures that will come withone scam targeting the reserves.
Mohammed said that 9.6 billion dollar(about N3.5 trillion) translates to 20 per cent of the nation’s foreignreserves.
The minister reiterated that thecontract as conceived was designed to fail and there were deliberate efforts tocircumvent all the checks and balances to prevent breach.
Specifically, he said the FederalMinistry of Petroleum Resources which signed the contract had no technicalknowledge and the capacity and competence to execute gas contract of such magnitude.