News, Society

Aso Savings and Loans In Big Trouble

Aso Savings and Loans Plc. and its Managing Director, Mr Kunle Adedigba are in hot soup as the Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has discovered N9.8 billion belonging to the Federal Government hidden in the bank.

Mr Kunle Adedigba, Managing Director, Aso Savings and Loans Plc.

The ICPC said in a statement by its spokesperson, Mrs Rasheedat Okoduwa that; “In 2005, the Federal Government set up a committee, the Ad Hoc Committee on the Sale of Federal Government Houses, to sell some of its properties in the Federal Capital Territory.”

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“The ICPC received a petition on the work of the committee and commenced investigation, in the course of which it unearthed the fact that the sum of N9.8bn realised by the committee between 2010 and 2014 from the sale of government properties which was deposited in Aso Savings and Loans Plc. was not remitted to the federal treasury by the financial institution rather, it was used.”

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“Amongst the several officials invited for investigation, the current Managing Director of Aso Savings and Loans, revealed that the bank is currently experiencing paucity of funds, therefore, it is willing to swap some of its properties located in Abuja and Lagos in exchange for the unremitted funds.”

“This fact led the ICPC to recover the sum of N20, 662,250 from the affected persons in bank drafts which it handed over to the chairman of the ad hoc committee between December 2017 and May 2018.”