Ned Nwoko’s $396m Paris Club Refund Under Fire as Whistleblowers Drag FG to Court

The drama over Nigeria’s controversial Paris and London Club refunds has taken a fresh twist, as whistleblowers head to court to stop another payout to Senator Ned Nwoko and his company, Linas International Limited.

On August 20, 2024, the George Uboh Whistleblowers Network (GUWN) filed a suit at the Federal High Court in Abuja, asking the judiciary to block a staggering $396.6 million payment allegedly being processed in favour of the lawmaker. The group insists the transaction is “unlawful, unjustified, and a violation of due process.”

Listed as defendants are heavyweights: Attorney-General of the Federation (Lateef Fagbemi, SAN), the Ministry of Finance Incorporated, the Finance Minister, Linas International Limited, Senator Nwoko himself, and the Nigeria Governors’ Forum (NGF). GUWN is pushing for six key reliefs, including an injunction to permanently restrain the Federal Government from releasing the funds.

At the heart of the matter is a claim that Nwoko and his firm had already received $350 million in 2018 as “full and final settlement” under former President Buhari’s administration. GUWN argues that demanding fresh payment in 2025 amounts to “fraud.”

Documents show that while the group petitioned the AGF in July 2024 to halt the payout, the AGF in November wrote President Bola Tinubu recommending approval, citing judgments favouring Nwoko and a “no objection” letter from the NGF. He also leaned on multiple EFCC reports, which allegedly affirmed that Nwoko and Linas were genuine consultants engaged in the refund process.

The controversy, however, is far from simple. GUWN insists the NGF’s “no objection” was improper and wants the court to nullify both the governors’ July 2, 2024 letter and the AGF’s November 25, 2024 memo to Tinubu. They also want the government compelled to pay the whistleblowers 5% of the disputed sum ($19.83 million) as reward for exposing the transaction.

This latest battle adds to the long history of disputes over Paris Club refunds—an issue that has sparked endless litigation, cabinet clashes, and even presidential interventions. Back in 2021, Buhari himself halted a similar $418 million payment to consultants after governors raised red flags.

Now, the court will decide whether Nwoko is truly entitled to more money or whether this is another chapter in Nigeria’s endless cycle of shady debt claims. Until then, the $396 million remains a storm cloud hanging over the nation’s already strained finances.