Houseof Representatives, yesterday, resolved to probe the Bank of
Industry(BoI) over the sale of equity worth N40billion in Dangote
properties and WAMPCO Plc.
The House also resolved to set up an ad-hoc committee to undertake the assignment.
The ad-hoc committee would also
be expected to investigate the financial transaction of the bank
between 2010-2015 including the appointment of four new directors by the
bank, without the approval of the President.
This followed the adoption of a motion moved by Ehiozuwa Agbonayinma at yesterday’s plenary.
In his lead debate, Agbonayinma contended
that “the Bank of Industry, which is one of Nigeria’s major development
financial institutions with government and private ownership,
controversially sold some of its assets and shares in WAMPO Nigeria Plc
as well as its equity holdings in Dangote Properties to the public
without following due process.”
He alleged that :” the Management of the
Bank under unilaterally awarded the sale of the shares to BGL Securities
Limited despite the fact that the Bank of Industry Investment and Trust
Company (BOIITC), a subsidiary of the bank could have effectively
handled the transaction.”
Agbonayinma noted that awarding the sale
contract to BGL Securities Limited “may have been done with the
intention of favouring cronies of the other managing director to snap up
the shares in WAMPCO that were valued at N40 billion and also to ensure
that details of the transaction were kept secret.”
Meanwhile, in its efforts to reduce the
long queues of vehicles in most part of the country, the Nigerian
National Petroleum Corporation (NNPC) yesterday announced plans to
inject 100 million litres of petrol daily into the market.
The intervention according to the NNPC,
will see it bringing in two cargoes of petrol per day for the rest of
February in a bid to boost supply.
Each of the two cargoes would be
offloading 50 million litres of refined products making a total of 100
million litres that will be brought in per day for the rest of February
to increase supply and replenish strategic reserves.
It further stated that in order to
enhance supply, about 45 million litres of petrol was discharged from
ships into jetties across the country on Thursday.