EFCC reportedly uncover $3million Lagos hotel Governor Yari built with Paris Club funds

Officials of the Economic and Financial Crimes Commission (EFCC), have reportedly told Sahara Reporters, that they have discovered a hotel being contructed by Governor Yari of Zamfara State, with $3million from the London-Paris Club loan refund.

Yari, who is the chairman of the Governor’s Forum, allegedly diverted N19billion reportedly meant for “consultants” from the Paris club loan refund.

The money had been illegally paid into the account of the Nigeria Governors Forum (NGF) by Nigeria’s Minister of Finance, Kemi Adeosun and the Central Bank of Nigeria (CBN).

It is understood that the hotel is a 100-room property situated in Lekki area of Lagos.

EFCC officials say they plan to take over the hotel, as soon as they obtain a court order.

Apart from the $3million, Governor Yari is said to have diverted N500million from the Paris Club refund, to pay off a loan. Overall, the Governor is said to have allegedly embezzled the sum of N2.2billion from the N19billion set aside illegally to pay “consultants.”

Abidoye Babatunde is a Senior Associate at Exodus Radio . A media aficionado, Babatunde is very passionate about journalism. He is a creative writer with a keen interest in sports and investigative reporting. He loves writing, music and football.

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