The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has dismissed a petition against the Governor of Osun, Ogbeni Rauf Aregbesola over allegations of mismanagement of funds and reckless spending of state’s resources.
The petition, which was submitted to the anti-graft Agency by a group, known as Civil Societies Coalition for the Emancipation of Osun State had accused the governor of diverting the sum of N11.4bn SUKUK bond, and over N13bn of intervention funds from UBEC to private foreign accounts.
However, the agency in its letter with reference number ICPC/INV/NGB/T.E2/003, and addressed to Chairman of the coalition, in which Secretary to Osun State Government was copied revealed that its investigations have not established any action in variance with the Corrupt Practices and other Related Offences Act, 2000 in the financial activities of the state, describing those allegations as practically unsubstantiated and totally baseless.
It further stated that since the commission through its investigation could not find the government wanting of any misdeed, the petition remained dismissed and of no substance.
“The above case bordering on fraudulent diversion of N11.4 billion obtained through Osun SUKUK bond to private foreign account, money meant for building of schools regardless of the N13.9 billion intervention funds from the Federal Government through UBEC for the purpose of building classrooms has been investigated conclusively with no infraction substantiated.
“An investigation of the above allegations confirmed that Osun State government raised N11.344 billion from the issue of the SUKUK bond through Nigerian commercial banks. Investigation also revealed that after the issue of the bond, Osun State Government sought and got approvals from the Securities and Exchange Commission and Shariah Board of Lotus Capital Ltd. To amend the schedule of schools to be constructed from 27 mixed schools to 11 high schools and to furnish the schools. The approval of SUKUK holders is still pending.
“Also contrary to the allegation that the SUKUK proceed was diverted to private foreign account, it was disbursed from Osun SUKUK company accounts with 13 Collecting Nigerian Commercial banks and used for payments of contractors awarded the contracts of construction and furnishing of 11 senior Secondary Schools in various part of Osun State.
“Furthermore, contrary to the allegation that N13.9 billion was disbursed by UBEC to Osun State, the total of N7,192,585,041.64 has been disbursed to Osun SUBEB for the period 2011-2015. This amount consists of Universal Basic Education matching grants, Special Education Funds, Teachers Professional Development Fund and state’s counterpart funds lodgement in line with UBE Act 2004.
“In view of the above paragraphs, investigations have not established an act contrary to the Corrupt Practices and Other Related Offences Act, 2000 as none of the allegations were substantiated. Therefore the matter is hereby laid to rest”, ICPC stated.
Meanwhile, the government in its reaction, through the Bureau of Communication and Strategy in the Office of the Governor, described the ICPC’s stance as a vindication from all fronts, saying the coalition group are” individuals hired for the purpose of tarnishing its name.”
The statement, signed by the Director of the Bureau, Mr. Semiu Okanlawon maintained that the coalition is indeed the brainchild of its detractors, set up for the purpose of rubbishing array of achievements of the administration.
“When the so-called group was everywhere making its highly irresponsible and frivolous allegations, we never minced words on the fact that it was an unregistered group of few disgruntled, hired individuals to tarnish the image of the government and seek to diminish the massive good governance initiatives that are the hallmarks of our interventions here.
“The ICPC’s dismissal of the frivolous allegations is a vindication of our earlier position on the group and other collaborators in their ignoble campaigns of calumny.
“The Aregbesola administration has instituted the most transparent, people friendly government in its six years and more and we do not intend to depart from this path. This is because we are convinced in this lies the brighter future of our dear state,” the statement reads.
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