Sokoto govt to probe alleged diversion of N16.1bn worth of shares

The Sokoto State Government has petitioned the State Commission of Inquiry against the immediate past administration of Senator Aminu Waziri Tambuwal, alleging the diversion of ₦16.1 billion worth of shares through the state’s investment company.

Addressing newsmen shortly after Tuesday’s proceedings, counsel to the commission, Amanzi Amanzi, stated that the proceeds from the sale of government shares between 2018 and 2023 were allegedly unaccounted for.

He explained that the commission received the petition from the Permanent Secretary (Political), Abdullahi Yabo, who called for an investigation into the entire process of the transfer and eventual sale of the state government-owned shares, as well as the whereabouts of the proceeds.

“The petition, which was written by the Permanent Secretary (Political), Abdullahi Yabo, from the office of the Secretary to the State Government, calls for an investigation into the sale of government shares through the Sokoto State Investments Company Limited, sometime in 2018.

“The Accountant General at the time transferred all the state government’s shares through a letter to the Sokoto State Investment Company Limited. Between 2018 and 2023, all the shares were sold, and the proceeds were not accounted for.

“The commission was called to investigate the sales and the whereabouts of the said proceeds, which were estimated at ₦16.1 billion,” Amanzi added.

He further revealed that the petition also alleged that a sum of ₦4 billion was reportedly transferred through some private and corporate accounts.

The commission also received other petitions from private individuals concerning land matters, encroachment, and related issues.

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