Audit report on OPIC : Ogun assembly directs former MD to supply documents on all investments


The Ogun assembly has directed the immediate past Managing Director, Ogun  Property and Investment Corporations (OPIC), Jide Odusolu to supply details of inflow and outflow on the finances and records of the corporations especially investment aspect during his tenure.

Mr Musefiu Lamidi, the House Committee Chairman on Public Account and Anti Corruption stated this while rounding off a meeting with the former managing director and other management staff of the corporation in continuation of consideration of audit report of government agencies in Abeokuta. 

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

The chairman requested the corporation to supply document in relation to all housing projects built and sold between 2015 and May 28, 2019, the project respective locations and number of units alongside the level of completion on those yet to be completed.

He also requested number of alloted property with explanation notes of inflow and outflow of cash during the period under review. 

He noted that funds expended on MITROS Residences, Abeokuta were not appropriated for in line with best budgeting practices, seeking 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 purview, appreciated the lawmakers for the opportunity to clarify issues.

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

According to him, the corporation started from the stage where it hardly made profit in 2013 when he took over, till it broke even as profit oriented corporation as at 2019.

He added that all documents requested for by the committee would be submitted accordingly

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