…says it gave undue advantage to notable Nigerians

By Inalegwu Shaibu

ABUJA—THE Senate has approved the scrapping of the Presidential Implementation Committee, PIC, over alleged non-remittance N1.2 billion made from sales of Federal Government properties in Lagos and Abuja.

The Senate’s approval yesterday followed the adoption of an interim report on investigation into the sale and alienation of Federal Government’s landed property presented by Senator Ikechukwu Obiora.

Senator Obiora, while presenting the report to the Senate, noted that the PIC gave undue advantage to some privilege Nigerians under the clause of notable Nigerians, thereby rendering homeless civil servants who had the right of first refusal to the houses.

He further revealed that another N80 billion proceeds from the sale was also fraudulently fixed with some banks at two percent interest, against the approved five percent, lamenting that the PIC denied the Committee access to the records of its transactions, thereby shielding the so-called notable Nigerians from being thoroughly investigated.

Accuses PIC of unwholesome practice

The report said in part: “The PIC lodged over N80 billion with various banks, the PIC testified that the Accountant-General of the Federation granted it approval to deposit the said sum at two percent interest rate but the Accountant General denied giving any such approval.

“Instead of fixing the lodgements at between five per cent to 10 per cent per annum, the PIC officials had under the table deal with the banks, such that the lodgements were fixed at two percent interest, while the PIC officials had the difference paid to them as gratification.

“Preliminary investigation by our financial consultant revealed that  N1, 236,074,517.00 payable to the Federal Government is already missing.”

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