The Senator representing Delta North, Peter Nwaoboshi, disclosed this at a press conference in Abuja

Nwaobosh told reporters that a formal motion would be presented on the floor of the Senate for the investigation of the diverted funds.

The aim of the probe, he said, was to unearth the faces behind the alleged diversion under the guise of consultancy fees.

Nwaoboshi said that measures would also be mounted to recover the diverted funds.

The Delta north senator also flatly denied recent media reports that 22 various bank accounts belonging to him were frozen by the Special Presidential Investigation Panel (SPIP).

He challenged those behind the reports to publish the amount recovered.

Nwaoboshi said: “Let me assure Nigerians that as soon as the case is settled, I shall bring a motion to investigate the $322 million of the 774 local governments in Nigeria allegedly taken by consultants from the Paris Club refund. It must be investigated by Nigerians. Nothing will stop it.

“If the Senate fails to investigate it, I will take it up and make it a one-man show to ensure that faces behind the diversion of the funds are unmasked. Nigerians should expect that from me.”

On his legal tussle with SPIP, he said: “I don’t have 22 bank accounts. That is not to say that there is any law that forbids me to own up that number of bank accounts or more than that in Nigeria.

“Most of the alleged bank accounts belong to companies of which they thought I have interest in, but I am not a signatory, a director, or a shareholder in any of the companies.