By Tony Dike

ENUGU—THE Managing Director of Enugu State Housing Development Corporation (ESHDC), Mr. Ikeje Asogwa has reportedly gone in to hiding,  following his invitation by the Economic and Financial Crimes Commission (EFCC) over the N1.7 billion loan he obtained from Bank PHB.

Asogwa, whose name was published by the Central Bank of Nigeria last Monday, reportedly went underground last Wednesday, following the official invitation extended to him by the anti-graft agency.

Vanguard learnt that EFCC operatives sent an invitation to his Ridge Way Road office in Enugu, last Wednesday but were told that he was not available at the time of their visit and subsequent visits also yielded no dividend.

A staff of the Housing Corporation confided in Vanguard at the weekend,  that the MD had not reported to work since last Wednesday and gave no reason for his absence.
Asogwa,  had earlier been embroiled in a row with Oceanic Bank over a N1 billion non-performing loan, he allegedly obtained on behalf of the corporation last year.

It was however, not known if the Oceanic Bank loan dispute had been resolved before the latest development.

Sources said the Bank PHB loan was obtained ostensibly for the development of the Coal City Garden Estate, which has remained unsold since January 2009 when it was completed and commissioned by Governor Sullivan Chime of Enugu state.

It was gathered that the high price of the 100-unit Duplexes at the estate was largely responsible for the public apathy to the housing scheme, which the corporation embarked upon on a “Build and Sale arrangement.”

The houses were pegged at N45 million per unit,  an amount described as outrageous by estate agents and valuers.