OPIC Probe:Ogun Assembly Seeks For More Documents - EDU-BIZNEWS


Tuesday, October 13, 2020

OPIC Probe:Ogun Assembly Seeks For More Documents

Ogun State House of Assembly has asked management of the State Property And Investment Corporation (OPIC), to furnish its with more documents, detailing all investments of the corporation between 2015 and May 28 ,2019.

The House Committee on Public Account And Anti-Corruption is presently scrutinising the audit reports of the State Property Investment Company till 2018 as well as audit reports of other Ministries, Departments and Agencies of government.

The Committee Chairman, Hon. Musefiu Lamidi, issued the directive on Tuesday at the State House of Assembly Complex in Oke-mosan,Abeokuta, during the almost six hours drilling of the immediate past Managing Director of OPIC, Mr.Jide Odusolu whose tenure is being probed. 

Lamidi explained that the documents would assist his Committee  on its proceedings with a view to ensuring accountability, probity and transparency in line with its constitutional duties.

The Committee Chairman added that the documents should include  the Corporation's housing projects built and sold between year 2015 and May 28th, 2019, the project respective locations and number of units in addition to their level of completion.

Also to be included are the  number of alloted property with explanation notes of inflow and outflow of cash during the period under review. 

Lamidi who doubles as the House Deputy Minority Leader, expressed concern that funds expended on MITROS Residences, Abeokuta were not appropriated for in line with best budgeting practices, seeking for the submission of documents in support of all cost lines and revenue on the properties between January 2015 and February, 2020.

 Odusolu, while responding to questions from the committee reeled out the various housing projects carried out by the corporation under his purview.

He appreciated the lawmakers for the opportunity to clarify issues and outline his scorecard during the period under review, positing that the Corporation needed to run like an independent business enterprise, which should be devoid of the public service scrutiny, rules and processes.

According to him, the Corporation started from the stage where it hardly made profit in 2013 when he took over, till it broke even as profit oriented corporation as at 2019.

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