It is no longer news that Kwara Must Change submitted a petition to the Kwara State House of Assembly to investigate former Kwara State Governor, Alh Abdulfatah Ahmed, as it relates to the activities of the Harmony Holdings Limited.
Here are the 10 points demands raised by Kwara Must Change as contained in its petitions.
- Kwara Must Change requested for the Invitation of a former Governor of Kwara State, Alhaji Abdulfatai Ahmed to shed more light on the situation surrounding transfer of over 20 companies and corporations belonging to Kwara State government to Harmony Holdings Limited for management.
- Governor Abdulfatah Ahmed need to explain the motivation behind giving Harmony Holdings Limited N2. 5billion as takeoff grant in 2012, plus other funds made available to the company such as the N404million given to the company between March 2012 to July 2013 as float for operating expenses, rent office renovation and procurement of fixed assets, as well as N184,369,818 and another N474,694,999 from Shonga Farm business for management.
- It was established by the committee constituted by Governor Abdulrahman Abdulrazaq that Harmony Holdings Limited received over N3billion from Kwara State government without remitting any returns in 7 years. Governor Abdulfatai Ahmed needs to be questioned on why over N3billion government fund was handed over to the company without any returns on investment to government in 7 years.
- Governor Abdulfatai Ahmed also needs to be questioned as to why over 20 companies and corporations of government were handed over to Harmony Holdings without any returns to government in 7years.
- Governor Abdulfatai Ahmed also needs to explain, why Kwara State government continued to bear the burden of repayment of loans taken by some of the over 20 companies and corporations such as Kwara Express, whose management had already been taken over by Harmony Holdings Limited.
- According to investigation, Harmony Holdings Limited only have 1% share of the company they are managing, with the subsidiaries having 99% shares. This means that, the board of the subsidiaries must approve every action being taken on its behave by Harmony Holdings Limited including sales and disposal of its properties, but unfortunately, this was not the case. Governor Abdulfatai Ahmed needs to explain, why many properties of subsidiary companies transferred to Harmony Holdings Limited in 2012 have been sold off without due process or knowledge of the subsidiary companies.
- It was also established that, many of the properties were not only sold out without the consent of the subsidiaries who own 99% shares, they were actually sold at ridiculous prices to officials of Harmony Holdings Limited who are cronies of the past government and same goes for properties on lease. In some cases, the properties were sold, with no trace of payment and all of these were done without any due process. Governor Abdulfatai Ahmed also needs to explain what he knows about this development.
- At Kwara Express, one of the companies given to Harmony Holdings for management, it was established that Harmony Holdings Limited forcefully took away the original certificate of occupancy of Kwara Express premises at Offa garage in 2015 and some portion of the premises was sold without due process. The depot of Kwara Express had also been sold illegally. Governor Abdulfatai Ahmed also needs to explain what he knows about this development
- The Executive Director of Harmony Holdings Limited, Mr Adebayo Sanni also needs to be invited to explain why the company has been unable to provide any returns to Kwara State government for 7 years, despite receiving over N3billion and over 20 companies and corporations for management.
- Mr Adebayo Sanni also needs to explain, why the company was acting beyond its management mandate, particularly as regards sales or disposal of subsidiaries properties without approval from its subsidiaries, and why subsidiaries properties were unduly sold to Harmony Holdings officials, sometimes without record of any payment.
- Prince Abdulrahman Obaje is a Media and ICT Consultant, Journalist, online marketer, social media strategist, Mathematician and Computer Scientist based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 908 6937 780 or send i-witness report directly to me on firstname.lastname@example.org.
- Health and Life Style2020.01.26Ignore Antimicrobial Resistance at your own peril, India High Commissioner Warned
- News2020.01.24Group Calls For Investigation into Journalist’s Death By Police
- Crime2020.01.23Ogbu: NUJ FCT Demands Investigation, Prosecution
- Opinion2020.01.23What Really Transpired The Day Comrade Alex Ogbu Died?