The Independent Corrupt Practices and Other Related Offences Commission (ICPC), following a petition by an Ad-hoc Committee on the sale of federal government houses, has uncovered N9.8 billion realised from the sale of government properties which was deposited in Aso Savings and Loans Plc.
Ejesgist News on Friday gathered exclusively that the funds, which was not remitted to the federal treasury by the financial institution, was rather used without government’s knowledge or approval. It was all discovered that the funds were recovered and corned between 2010 and 2014 from the sale of some government’s properties in the Federal Capital Territory (FCT).
When ICPC investigators quizzed several officials during investigation, the current managing director of Aso Savings and Loans, revealed that the bank is currently experiencing paucity of funds, therefore it is willing to swap some of its properties located in Abuja and Lagos in exchange for the unremitted funds. Reacting to the story, ICPC spokesperson, Rasheedat Okoduwa stated that the commission is committed to the recovery of the full value of the unremitted N9.8 billion by taking the properties offered in lieu for government, subject to satisfactory valuation by the Ministry of Power, Works and Housing. Upon conclusion of investigation, anyone found in breach of the law will be brought to book accordingly.
Meanwhile, in a related development, further investigation of the Ad-hoc committee’s work also uncovered that some persons who were allocated government properties made only part payments.This fact led ICPC to recover the sum of N20, 662,250 from the affected persons in bank drafts which it handed over to the chairman of the Ad-hoc Committee between December 2017 and May 2018.
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