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We wish to acquaint you with recent developments in the above ‘419’ case.The Plaintiffs are a group of individuals resident in Canada. They sued in Canada on a contract they alleged was entered into between East West Commodities Limited (a Calgary based Corporation) and the Nigerian Ministry of Housing and Works. The alleged contract contemplated the supply of generating equipment for US$45million. It was also alleged that payments under the contract were not made and that certain payments in the nature of advance fees were made to various Nigerian Government and Central Bank officials.

The Plaintiffs subsequently obtained a Default Judgement in the amount of approximately $90 million from the Canadian Court. Following the Default Judgement, the Plaintiffs took steps to enforce the Default Judgement against the assets of the CBN in Switzerland and in the United States, a move which the bank vigorously opposed. Our application to set aside the Default Judgement had been heard and judgement delivered on 13th March, 2003. The Court among other things, found the Default Judgement to be a nullity and ordered it set aside.

Although the Plaintiffs have gone on appeal, we wish the information relating to the setting aside of the Default Judgement posted on the CBN Website as a demonstration of the Bank’s continued fight against advance fee scams. The point that should be emphasized in this case is the fact that the Plaintiffs made advance payments in respect of a contract they knew was not in existence.

We shall keep you posted of further development in the matter.

Thank you.

Anthony Olatujoye Esq.

Facts : 1/1/1900
NEEDS:National Economic Empowerment and Development Strategy was developed by the National Planning Commission, then headed by Prof Charles Soludo. It was endorsed by the Federal Executive Council of Nigeria as a poverty-alleviating strategy. The aim of the scheme was to meet the Millenium Developoment Goals of curbing the menace of poverty in Nigeria and bringing it to the barest minimum by the year 2015.
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