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NEWS UPDATE: Ogun Assembly indicts former OPIC MD, Odusolu over alleged ‘missing N20bn’

NEWS UPDATE: Ogun Assembly indicts former OPIC MD, Odusolu over alleged ‘missing N20bn’

Ogun State House of Assembly has prosecuted the previous Managing Director of the Ogun State Property and Investment Corporation (OPIC), Babajide Odusolu over an asserted missing N20 billion.

The Assembly likewise requested Odusolu to discount a total from N40m that was supposedly unaccounted for in 2019 into the State coffers inside six months.

On Friday, the legislators said they got and taken on the report of its Committee on Public Accounts and Anti-Corruption, which considered the 2015-2019 State Auditor-General’s report on OPIC,” requesting that enemy of join offices test and recuperate into the State’s coffers, an equilibrium of N2,579,771,717.71.

The Chairman of the council, Musefiu Lamidi, had moved the movement for the reception of the report; it was backed by Oludaisi Elemide and upheld by others through a voice vote.

Giving the breakdown, as indicated by the report, “the Committee saw that the review report uncovered that in 2019 in the wake of creating a pay (counting aids and awards) of N3,817,778,776.65 the Corporation consumed an aggregate of N1,197,182,579.27 and the equilibrium is N2,620,596,187.38. The normal bank balance toward the year’s end 2018 was N685,194,035.01 and this carried the normal equilibrium to the tune of N3,305,790,222.39 which was accessible to the Corporation.

“Considering the Year 2019 bank monetary records submitted to the Committee, the amount of N726,018,504.68 was contained in the Bank asset reports and this addresses an unaccounted equilibrium of N2,579,771,717.71”.

In its suggestion, the Assembly noticed that the 8.2 hectares of land at Isheri, sold for Rainerhill Internationals Services Limited, an auxiliary of Pesianas Group, at the “underestimated cost of N164M,” was not done to the greatest advantage of the State.

While mentioning that all title archives gave for Rainerhill Internationals Services Limited on the land be pronounced invalid and stay away from, the Assembly kept up with that OPIC ought to hold the land ownership.

Also, the Committee looked for a review administrative endorsement for what it called an “consumed unbudgeted amount of N881.5M,” inability to which Odusolu was relied upon to discount same to government’s tote in six months.

It was likewise suggested that the ban put on an amount of N608,226,371.69 in 16 banks having a place with OPIC be lifted.

Also, the Assembly mentioned that a “proposed 5-star Hotel, Ikeja which had no actual presence, at this point an amount of N45,025,064:00 was exhausted to get title records” ought to be investigated.


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