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The Ogun State House of Assembly has raised the alarm that it had discovered that N40 million was missing from the Ogun State Property and Investment Corporation , under the former Governor , Ibikunle Amosun administration .
The Chairman of the Ogun State House of Assembly Committee on Public Accounts and anti-corruption ,
Musefiu Lamidi disclosed this on Monday while questioning the former Managing Director of the State Property and Investments Corporation, Jide Odusolu .
Odusolu who served as a Special Adviser to Amosun was grilled by the Assembly in continuation of the consideration of the financial reports of the Corporation between 2015 and 2019.
The Assembly accused Odusolu of disposing -off a landed property which it purchased for over N515m at Isheri with N848m value at a giveaway price of N164m for half of its portion.
The Assembly added that the transaction was done barely ten days before the exipiration of the last administration in May, 2019.
The Chairman of the Committee, in company of other members of the committee questioned the former MD on why over N40m could not be accounted for in the construction expenses of the MITROS Residence, Ibara, which was carried out during the period under review.
The Committee decried the manner in which the former MD spent the total sum of N881m on the construction and procurement of equipment for the Mitro Residence at Ibara without the approval of the State House of Assembly.
The Committee also requested for clarifications on the role of the OPIC Board in the running of OPIC as well as the process of the project execution.
The Chairman of the committee , further querried the MD over the Corporation’s inability to keep fixed assets registers.
He also grilled him on the alleged non-availability of cash book and bank reconciliation statements on demand to external auditors.
The committee also said it noticed that from sample of daily cash schedule, cash received were not fully lodged.
The committee chairman said ” all the infractions are in contravention of the Appropriation Laws for the period, as well as in contrast to the International Public Sector Accounting Standards (IPSAS) and the State Financial Regulations, which equally mandated the keeping of up-to-date fixed assets register by government Ministries, Departments and Agencies.”
Consequently, the Committee directed Odusolu to re-appear on Wednesday, November 25, , 2020, following his plea for adjournment due his ill health to avail the Committee of more documents and clarifications on all records including projects and other transactions carried out under his watch.
The committee also requested land sales, properties, lease/rent amongst others with specifications of their respective location, sizes, type of building and cost facilities external to the building such as access roads and paving amongst others which were to be submitted on or before Wednesday, November 11, 2020.
Responding, Odusolu noted that though, he didn’t secure the approval of the State House of Assembly for the Mitro project, but had approval of the former Governor Ibikunle Amosun for the construction.
He noted that the N40m was part of funds spent in the course of the construction of the Mitro Residence.
He claimed that the housing projects at Isheri had been concluded under a shell in construction .
He also disclosed that the law setting up the Corporation allows the MD to report directly to the State Governor and not the Board.
Odusolu assured the lawmakers that all other documents requested would be provided at the next proceeding of the House Committee.