In 2005, the Federal Government arrange a committee, the Advert-hoc Committee on the Sale of Federal Government Homes, to promote a few of its properties in the Federal Capital Territory.
The Impartial Corrupt Practices and Different Associated Offences Fee (ICPC) obtained a petition on the work of the committee and commenced investigation, in the course of which it unearthed the truth that the sum of N9.8 Billion realised by the Advert-hoc Committee between 2010 and 2014 from the sale of government properties which was deposited in Aso Savings and Loans Plc, was not remitted to the federal treasury by the monetary establishment moderately, it was used.
Amongst the a number of officers invited for investigation, the present Managing Director of Aso Savings and Loans, revealed that the financial institution is at present experiencing paucity of funds, due to this fact it’s keen to swap a few of its properties situated in Abuja and Lagos in trade for the unremitted funds.
The Fee is dedicated to the restoration of the total worth of the unremitted N9.8 Billion by taking the properties supplied in lieu for government, topic to passable valuation by the Ministry of Energy, Works and Housing. Upon conclusion of investigation, anybody discovered in breach of the legislation will probably be dropped at guide accordingly.
In a associated growth, additional investigation of the Advert-hoc committee’s work additionally uncovered that some individuals who have been allotted government properties made solely half funds.
This truth led ICPC to recuperate the sum of N20, 662,250 (Twenty million, 600 and sixty-two thousand, 200 and fifty Naira solely) from the affected individuals in financial institution drafts which it handed over to the Chairman of the Advert-hoc Committee between December 2017 and Could 2018.