N4bn Uncompleted Building: NAICOM Clears Air On Allegedly Deceiving Buhari

By LOVETH AZODO, Lagos

The National Insurance Commission has said that the N4bn Unfinished property for approval to be acquired will serve as NAICOM Academy and office accommodation

The commission in a statement signed by its management, stated this in reaction to a report alleging that the commission deceived President Muhammadu Buhari and the Federal Executive Council into approving the purchase of a new office building in Abuja.

The report also alleged that the Commission said it was buying a “ready to use magnificent office complex” rather than an uncompleted building.

Reacting to the allegations, the statement added that the management of the Commission through the Honourable Minister of Finance, Budget and National Planning presented to the Federal Executive Council presided over by His Excellency, President Muhammadu Buhari, GCFR an Unfinished property for approval to be acquired as NAICOM Academy and office accommodation following the approval by the immediate past Governing Board of the Commission.

“All documents relating to the property clearly state that the property was in an unfinished state.”

“The Commission had prior the FEC approval, obtained a “No Objection” from the Bureau of Public Procurement (BPP) following the valuation of the property by the Federal Ministry of Works and Housing.”

“Adequate due diligence was conducted on the property for acquisition and all relevant approvals were secured by the Commission,” it stated.