A report from a private investigation agency has revealed that the sales of three vehicles to its former managing director, Dr Gimba Ya’u Kumo was in line with the bank’s policy and followed due process.
The report signed by the head of Investigation, Gaskiya Reports, Babangida Ali and made available to LEADERSHIP yesterday in Abuja, stated that all the necessary documents for the vehicle allocation, sales and acquisition was completed prior to the sales.
It would be recalled that the sale of the vehicles was reflected in the report of the Auditor General of Federation, Anthony Ayine and being investigated by the Senate Panel on Public Accounts.
However, the incumbent managing director, Ahmed Dangiwa, while appearing before the Senate Senate Panel, chaired by Senator Matthew Urohghide, said the vehicles were sold to Kumo at N4.9 million.
It said that the cost at which the vehicles were sold represented 10 per cent net value of the vehicles, which is in parity with the bank’s policy, adding that it also accommodates the privileges and reflected the severance package of its former MD.
“The Senate Committee on public accounts may be aware that the sales and allocation of three vehicles by the MD of Federal Mortgage Bank of Nigeria, Ahmed Dangiwa was in view of all the legal processes and was not in contrast with the bank’s policy,” the statement added.