Abuja — THE House of Representatives will soon investigate the repayment of $12 billion loan to the Paris Club by the Federal Government in 2006, Chairman, House Committee on Finance, Abdulmumini Jibrin has said.

Jibrin, representing Kano State (PDP), said when House reconvenes on September 19, a motion will be presented before the parliament because information available to them indicates that 'there were some shady deals, which resulted in some top government functionaries enriching themselves in the process that led to the consummation of the agreement with Club.

Members of the club of debtors include: United States of America, Germany, Great Britain, France and other rich nations that allowed it to pay off about $30 billion in accumulated debt for about 60 per cent and at the time of the administration said it would use the fund to develop the country and reduce poverty.

' In fact, in the Finance Committee, there are some activities that we are going to investigate when we resume. When we are back, we are going to take a critical look at the Paris Club Debt exit transactions because there are some damaging allegations leveled against some top shots in government.

It is even said that they (negotiators and others) got themselves very much enriched during the process of these transactions.' Jibrin said this during an interactive session with journalists in Abuja at the weekend.

It would be recalled that in April 2006, the Federal Government under President Olusegun Obasanjo, agreed to pay back its multi-billion dollar debt to the Paris Club of creditor nations after reaching a deal in October, 2006.