Supreme Court Reserves Verdict On N3.5 Billion Paris Club Fraud Case

Supreme Court Reserves Verdict On N3.5 Billion Paris Club Fraud Case

The Supreme Court of Nigeria has deferred its decision on the appeal concerning the forfeiture of N1.2 billion linked to the Paris Club Fund until June 7, 2024

Melrose General Services Limited, the appellant, is challenging the Court of Appeal’s ruling from May 2019, which ordered the forfeiture of the aforementioned amount. The funds were allegedly traced back to illegal activities associated with the Paris Club fund, in which Melrose General Services Limited was allegedly involved.

Dele Oyewale, the Head of Media and Publicity for the EFCC, announced this development in a statement on Thursday.

Kehinde Ogunwumiji, representing the appellant, brought a motion to the highest court seeking to overturn the Court of Appeal’s decision. Ogunwumiji argued that the funds subject to forfeiture were not obtained through illicit means but rather constituted payment for a legitimate contractual and consultancy agreement.

In response, the EFCC’s counsel presented a counter-affidavit dated March 11, 2024, urging the court to uphold their written argument and reject the appellant’s appeal.

During the proceedings, the EFCC’s counsel provided an overview of the forfeiture concept granted by the lower courts, emphasizing the need to recover proceeds and instrumentalities of crimes.

The EFCC alleged that Melrose General Services Limited received N3.5 billion fraudulently for a consultancy job for the Nigerian Governors Forum, despite not performing any such work. Subsequently, the appellant made several withdrawals, leaving N1,222,384,857.84 before EFCC intervention. Additional investigations led to the recovery of an extra N220 million paid to other entities.

After considering all arguments, the five-man panel of the apex court reserved judgment on the matter until June 7, 2024.