ICPC PROBE: Aso Savings surrenders assets in settlement for FG’s unremitted N9.8bn

The management of Aso Savings and Loans Plc has requested that the Federal Government should take possession of some of its properties in settlement for a sum of N9.8 billion deposit it allegedly used.

The money belonging to the Federal Government was reportedly hidden in the bank and discovered by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

In a statement by ICPC spokesperson on Thursday, Rasheedat Okoduwa, the money was realised from the sale of government assets and deposited in the bank instead of the federal treasury.

The anti-graft agency said the Managing Director of the bank, Kunle Adedigba, had during interrogation claimed that the bank was having problem of paucity of funds and was willing to cede some of its properties to the Federal Government.

“In 2005, the Federal Government set up a committee, the Ad Hoc Committee on the Sale of Federal Government Houses, to sell some of its properties in the Federal Capital Territory.

“The ICPC received a petition on the work of the committee and commenced investigation, in the course of which it unearthed the fact that the sum of N9.8bn realised by the 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 financial institution rather, it was used.

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“Amongst the several officials invited for 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,” the statement read in part.

ICPC said it remained committed to the recovery of the full value of the unremitted N9.8 billion by taking the properties offered in lieu for the government, subject to satisfactory valuation by the Ministry of Power, Works and Housing.

It noted that investigation into the matter was ongoing and anyone found in breach of the law upon the conclusion of the investigation would be brought to book accordingly.

 

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