Bauchi: APC chieftain threatens Gov. Mohammed over alleged sale of state assets

Bauchi: APC chieftain threatens Gov. Mohammed over alleged sale of state assets

Bauchi State Chieftain of the ruling All Progressives Congress, APC, Dr. Garus Gololo, Thursday threatened to drag the state Governor, Bala Mohammed to court over the alleged sale of state assets.He also vowed to engage a team of lawyers against the Governor for failure to withdraw his actions.The APC leader said this in a reaction to the alleged state government’s moves to lease or sell viable properties in the state.He affirmed that the Odubo cattle ranch in Gamawa Local Government Area of the state is an asset that should be preserved for the future of the state.But the state government said six public properties have been listed for privatization including the Bauchi Fertilizer Company, Bauchi Meat Factory, Galambi Cattle Ranch, Bauchi Furniture, Zaranda Hotel and Wikki Hotels and Tours.Also, the APC state chairman, Babayo Misau, called on the Economic and Financial Crimes Commission, EFCC and the Independent Corrupt Practices and other Related Offences Commission, ICPC to commence an investigation into the sale.Misau said apart from the laudable contributions to the economy of the state, the state government was still planning to sell them.In his words, “Bauchi State derives no meaningful benefit in any of the following transactions which include the leasing of Zaranda Hotels for 25 years at N1.2 billion, leasing Wikki Hotels for 25 years at N200 million, selling Bauchi Meat Factory which is worth billions of naira at the cheap rate of N301 million, disposing of Bauchi State Fertilizer and Blending Company at N400 million, sale of Gallambi Cattle Ranch at N150 million and Bauchi State Furniture Company also dashed out at a negligible amount that is far less than its current value.“More worrisome is the fact that the N2.251 billion to be realised as proceeds of the transactions is too meagre, considering the multi-billion current financial value of the disposed-of industries.“The purchasing companies: AY Shafa Ltd, New Frontier Ltd, H and Y Global Ventures and Butfield Ltd are directly or indirectly linked to Governor Bala Mohammed as business partners and close associates”, Gololo alleged.

Source: Bauchi: APC chieftain threatens Gov. Mohammed over alleged sale of state assets

 - NigerianEye

The story behind the headline — analyzed by 10 AI models, updated 4x daily. → drux.space/hub