The investigation into the alleged malpractices in the award and a location of land to companies and individuals under the Land Swap programme initiated by the House of Representatives began with a startling revelation of unpaid N117.64 billion for 841 hectares of land allocated to Gwagwa Concession Company by the immediate past FCT administration.
So far, the sum of N350 million non-refundable fee was paid by the company to the FCT administration’s coffer, three years after the signing of the Memorandum of Understanding (MoU).
In a related development, Abuja Infrastructure Investment Centre (AIIC), which got 289.9 hectares of land so far failed to pay the N350 million non-refundable fee in contravention to the terms of agreement between the FCT administration and investors.
Sani Yakubu, Head of Business Development for AIIC, affirmed this at the opening of investigative public hearing on the alleged malpractices associated with the allocation of land to 25 investors under the Land Swap scheme of the past administration, held at the instance of the House Committee on FCT, chaired by Herman Hembe (APC-Benue).
The committee also expressed concern over the failure of non-refundable of the sum of N350 million by Abuja Infrastructure Investment Centre (AIIC) for the acquisition of 289.9 hectares of land.
In its submission to the FCT Committee, AIIC explained that the company is still seeking for credible investors that would buy into the scheme for the development of the allocated land.
KEHINDE AKINTOLA
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
