ICPC dismisses group’s petition against Rauf Aregbesola

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has dismissed as unfounded, the petition against Osun State Governor Rauf Aregbesola. The Civil Societies Coalition for the Emancipation of Osun State had alleged in the petition that Aregbesola was involved in a criminal and reckless mismanagement of the state’s funds.

In clearing the governor, the ICPC said its investigation did not establish any wrong doing against him that was contrary to the ICPC Act, 2000. The ICPC statement reads: “The alleged fraudulent diversion of N11.4 billion obtained through Osun SUKUK Company’s bond to private foreign account has been investigated. The funds were meant for the building of schools, outside the N13.9 billion intervention funds from the Federal Government through the Universal Basic Education Council (UBEC).

“It was not established that the governor raised N11.344 billion from the issue of the SUKUK bond through Nigerian commercial banks. Also, the investigation revealed that after the issue of the bond, the state government sought and got approval from the Securities and Exchange Commission and the Shariah Board of Lotus Capital Ltd.”

According to the commission, it was not also true that the SUKUK proceeds were diverted to private foreign account, as they were disbursed from Osun SUKUK company’s accounts with 13 collecting Nigerian commercial banks and used for the payments of contractors and the furnishing of 11 senior secondary schools in various parts of the state.

“In view of the above, the matter is hereby laid to rest,” the commission said. Responding, the Director, Bureau of Communication and Strategy, Semiu Okanlawon expressed satisfaction at the governor’s acquittal.

The statement added that the ICPC’s vindication of Aregbesola was a confirmation that the civil society coalition was hired to tarnish his image.