The 36 states have urged a Federal High Court in Abuja to stay the execution of its March 25, 2022 judgment authoring the Federal Government to deduct $418milion belonging to the states to settle debts owed to consultants engaged by states and local governments for the Paris Club refund.
Their request is contained in a post-judgment motion on notice for injunction, which the states filed through their Attorneys-General.
In the motion, which is likely to be heard today by Justice Inyang Ekwo, the applicants particularly want the court to restrain the 1st to 7th respondents and their agents from proceeding with the plan to deduct the $418m from the funds standing to the credit of the states in the Federation Account or any other accounts.
Listed as 1st to 7th respondents are: the President of the Federal Republic of Nigeria, the Attorney General of the Federation, the Accountant General of the Federation, the Ministry of Finance Incorporated, the Central Bank of Nigeria, the Debt Management Office and the Federation Account Allocation Committee.
They also want the court restrain the 21th to 43 respondents (which are mainly banks in the country) from honouring or giving effect to any promissory note (s) issued by the 1st to 7th respondents to the consultants listed as the 9th to 19 respondents.
The states are praying the court to issue the injunctive orders pending the determination of the appeal they filed against the March 25, 2022 judgment.
They stated that their motion was informed by the need to preserve the funds in the Federation Account from being dissipated pending the hearing and determination of the appeal.