Ogun Assembly set to audit OPIC, requests for documents from ex-MD Audit

The Ogun Assembly has directed the immediate past Managing Director of Ogun Property and Investment Corporations (OPIC), Jide Odusolu, to supply details of the corporation’s finances and records of investment during his tenure.

Mr Musefiu Lamidi, the House Committee Chairman on Public Account and Anti-corruption, stated this while rounding off a meeting with Odusolu and other management staffers of OPIC on Tuesday in Abeokuta.

The News Agency of Nigeria (NAN) reports that the meeting was in continuation of consideration of audit reports of government agencies by the Assembly.

Lamidi directed the management of the corporation to furnish the Assembly with more documents to assist the committee in its proceedings with a view to ensuring accountability, probity and transparency, in line with its constitutional duties.

He further requested the corporation to supply documents relating to all housing projects built and sold between 2015 and May 28, 2019, their locations and number of units, alongside the level of completion on those yet to be completed.

The lawmaker also requested for number of allotted property, with explanation notes on the inflow and outflow of cash during the period under review.
He noted that the funds expended on MITROS Residences, Abeokuta, were not appropriated for, in line with best budgeting practices.
Lamidi sought for the submission of documents in support of all cost lines and revenue on the properties from January 2015.
Responding, Odusolu, who reeled out the various housing projects carried out by the corporation under his leadership, appreciated the lawmakers for the opportunity to clarify issues concerning the operations of OPIC.

He posited that the corporation needed to run like an independent business enterprise, devoid of the public service scrutiny, rules and processes.

The former managing director said that OPIC was in a situation where it hardly made profit when he took over in 2013 until it began to break even in 2019.
He promised that all the documents requested for by the committee would be submitted accordingly.

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