The Federal Government has mapped out plans to block the recovery of about 62 promissory notes issued to consultants and contractors engaged by the Nigeria Governors’ Forum, NGF and the Association of Local Governments of Nigeria, ALGON to retrieve their shares of the Paris Club refunds.
The Government, while faulting the procedure for the issuance of the promissory notes, has asked an Abuja High Court to void the notes already issued.
In the suit, now before Justice Inyang Ekwo, the Federal Government and three others, listed as plaintiffs, want the court to, among others, set aside all the promissory notes and issue an order of perpetual injunction restraining the defendants and their agents from exercising any proprietary rights over the promissory notes.
The plaintiffs are contending, among others, that the promissory notes are invalid, having been wrongly issued in violation of relevant laws.
