2 weeks ago
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The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has officially transferred forfeited landed properties located successful Kaba District, Abuja, to the Federal Mortgage Bank of Nigeria, FMBN, successful accordance with a last forfeiture bid issued by the Federal High Court.
The handover happened on Tuesday at the Goodluck Jonathan Estate tract successful Kaba District, Abuja, and was overseen by the Chairman of ICPC, Dr. Musa Adamu Aliyu, SAN, alongside the Managing Director/Chief Executive of FMBN, Mr. Shehu Usman Osidi, and elder officials from some organizations.
Dr. Aliyu characterized the lawsuit arsenic a important accomplishment successful Nigeria’s plus betterment and restitution initiatives, highlighting the value of returning recovered nationalist assets to productive nationalist use.
He elaborated that the forfeited onshore was portion of a lodging task initiated by FMBN successful 2012, which was financed done a $65 cardinal indebtedness installation obtained by Good Earth Power Nigeria Limited successful collaboration with an American company. The task aimed to supply 962 lodging units connected astir 27.92 hectares of onshore successful Kaba District.
The ICPC Chairman noted that investigations indicated the implicit diversion of the loan, with nary lodging units constructed, and that immoderate of the funds were allegedly funneled done Bureaux de Change and taken overseas.
As a result, the ICPC...
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