By Baron Ike
Operatives of the Independent Corrupt Practices and other offences Commission (ICPC) may have concluded their investigations into the circumstances surrounding the sale of government property in Ikoyi and Victoria Island areas of Lagos valued at N15 billion.
BoI
They are now set to charge the suspects to court over the unauthorised sale which has attracted the attention of the presidency.
Besides the N15 billion case, Armadanews.com reliably gathered that the ICPC is ready to prosecute suspects in another alleged illegal sale of N40 billion government shares in WAMCO Nigeria, makers of Peak Milk, by Bank of Industry (BOI).
All the alleged shoddy deals were perpetrated during the regime of former Management team of BOI led Rasheed Olaoluwa as then Managing Director of the Bank.
The ICPC was determined to get to the root of the allegations keeping following the pressure from the powers that be in Aso Rock which have constantly reminded them of President Muhammadu Buhari’s zero-tolerance to corruption.
It was gathered that the case ought to have been dispensed with long ago but for the death of one of the officers handling it which our source said had to be reassigned.
BOI under Olaoluwa had held in trust on behalf of the government, 127 million units of shares in WAMCO, which the bank allegedly sold.
The sale reportedly caught the attention of some presidency top shots who frowned at it.
They were hurriedly allegedly sold off in controversial and curious circumstances, a few days after Buhari assumed office on May 29, 2015 without a requisite Board approval as required by Law and due process.
The sale reportedly took place on June 15, 2015, few days before Buhari issued a presidential directive, dissolving all Federal Boards, Agencies and Parastatals with the exception of statutory ones as prescribed by Law.