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WORLD BANK AUDITORS
SITTING PRUDENTLY IN THE NIGERIAN PRIME FINANCIAL INSTITUTION
(CENTRAL BANK OF NIGERIA)
TINUBU SQUARE LAGOS - NIGERIA
Our Ref: WBA/NG/CBN/07
Date29th Sept. 2007.
From the Desk of: Rev. Michael Garcia.
ATTN: Beneficiary ,
RE: OVER DUE CONTRACT/INHERITANCE PAYMENT NOTIFICATION
This is to notify the numerous foreign contractors/inheritance owed by
the Federal Government of Nigeria from various parastatals that going
by the Geneva Pact signed by the government of Nigeria, and the World
Bank as it relates to long overdue payment of foreign beneficiaries on
behalf of the Federal Government of Nigeria.
Apparently, investigations carried out by the World Bank Auditors has
confirmed that most beneficiaries are being asked to pay certain
irrelevant charges by the Apex Bank (Central Bank of Nigeria) and other
government financial institutions, therefore making it very difficult for
contractor to meet such obligations which is contrary to Section \"37\"
Subsection \"C\" of the Article XII of Banks and other financial decree
of 1995 as amended in 1998.
In view of this, the Governing Board of the World Bank has directed the
World Bank Auditors to shift base to Nigeria to scrutinize and oversee
an immediate release of such payments that has met the requirements
for effectiveness without any further delay. Any beneficiary certified
\"OK\" will receive his / her fund within five (5) working days from the
date of the final authentication of his / her due sum.
It is also interesting to inform beneficiaries that in order to carry
out deductions on their bills as regards Cost of Transfers (COT),
Security Deposit (SD) and other taxable charges, beneficiaries will be
requested to obtain the Debit form M104 from this authority so as to empower
this board to carry out such deduction from the total contract sum
before final remittance.
Furthermore, certification and unconditional payment release orders has
been invested on this board and it involves payment from our statutory
foreign reserves of international capital markets (ICM) loan from
(IMF) and the World Bank respectively. It is of vital international
financial interest that all payments under this dispensation has been bestowed
on the World Bank Auditors for immediate settlements. On behalf of the
Nigerian government, this body regret any inconveniences this delay
might have caused your goodself. You are hereby finally advised to stop
all further communications with any agents, group of people or any
government bodies in respect of your payment.
Please contact us for detailed information. Expecting your prompt
response.
Yours faithfully,
Rev. Michael Garcia.
General Auditor
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