President Muhammadu Buhari’s minister is in trouble. The minister has purchased a property worth N280 million in the Federal Capital Territory (FCT), Abuja.
President Muhammadu Buhari
We learnt that the property was purchased in 2017 and the minister has been summoned by the Presidency to explain how he came about the funds for the purchase of the house. The Presidency got to know of the purchase following a petition to the president.
The minister who was living in an N8million per annum rented apartment before now and has already moved to the palatial house with his security details. The minister had told the Presidency that he secured the property with a mortgage.
The minister explained that he took a loan from one of the banks to fund the payment. “Of course, the Presidency wasn’t satisfied with his explanation because it is begging the question. How does he intend to fund the loan from his salary, especially when he didn’t purchase the house for commercial purposes?”
The minister is now running from pillar to post to ensure that the issue is quelled within the Presidency.
An insider said: “I think the question to ask the minister is when and how does he intend to pay the loan back? A minister’s take-home is less than N1 million, even if he doesn’t touch one naira from his salary and used it as payment for the loan in the course of his four years stay as a minister, it doesn’t still meet up with the loan at all. So, how can you fight corruption when things like these happen among even members of the cabinet?”