A Federal High Court in Abuja has ordered Katsina State Government to pay a firm, Mauritz Walton Nigeria Ltd, over N13.3billion for the debt management services it rendered to the state, which aided the refund of the $217,274,991.01 to Katsina State by the Federal Government.
Justice Inyang Ekwo, in a judgment, held that Mauritz Walton was able to establish, through credible evidence that it was entitled to its claims as laid out in its suit filed and argued on its behalf by its legal team led by Wole Olanipekun (SAN).
Justice Ekwo said the N13,253,774,451.60 to be paid to Mauritz Walton, formed 20 per cent of the $217,274,991.01 refunded to Katsina State Government.
The judge ordered the state government to, in addition, pay the firm 20 per cent interest on the judgment sum to be calculated from October 1, 2018 until the day the judgment was given, and thereafter, at the rate of 10 per cent per annum until full and final payment.
The judgment was on a suit marked: FHC/ABJ/CS/1298/2017 by Mauritz Walton against the Minister of Finance, Central Bank of Nigeria (CBN), Accountant-General of the Federation, Katsina State Government and its banker, the United Bank for Africa PLC.