By Joseph Erunke, Abuja

Senator Ned Nwoko, representing Delta North in the National Assembly, has rejected claims that his company has received full payment of the outstanding $396 million linked to the Paris Club debt buyback consultancy, maintaining that the sum remains unpaid.

In a statement issued by his media office in Abuja, the lawmaker said the outstanding balance of $396 million has yet to be paid, noting that available records support his position.

“Contrary to these claims, the outstanding balance of $396 million due to my company has not been paid,” the statement read.

He added that the matter has undergone multiple reviews by the Economic and Financial Crimes Commission (EFCC) in 2018, 2019, 2020, and 2024, which he said did not invalidate the debt.

The senator also stated that there are ongoing legal processes relating to the dispute, emphasizing his commitment to resolving the matter through lawful means.

He urged the public to rely on verified records and reiterated his position that the payment remains outstanding.

The controversy dates back to 2013, when Nwoko, through his company, was engaged as a consultant representing the 774 local government councils, the six area councils of the Federal Capital Territory, and the Association of Local Governments of Nigeria (ALGON) in a suit against the Federal Government.

The case sought the recovery of $3.188 billion allegedly deducted from local government allocations to service Nigeria’s Paris Club debt.

On December 3, 2013, the Federal High Court in Abuja ruled in favour of the plaintiffs, ordering the refund of the full amount and approving a 20 percent consultancy fee, equivalent to $637.6 million, for Nwoko’s firm.

Subsequent enforcement actions led to a garnishee order absolute against the Central Bank of Nigeria on June 27, 2016, a decision later upheld by the Court of Appeal on February 2, 2018.

Despite these rulings, the dispute over the outstanding balance continues to attract public attention.