The Sokoto State Commission of Inquiry commenced hearings on Tuesday regarding the alleged unaccounted N16.1 billion from the state shares sold between 2018 and 2023 by the previous administration.
Mr Amanzi Amanzi, Counsel to the commission, briefed newsmen at the end of the session, stating that eight memoranda were deliberated upon during the proceedings.
Amanzi said that one of the key issues discussed was the activities of the Sokoto State Investment Limited.
“The commission has been tasked with investigating the sale of government shares during the specified period.
“In 2018, the Accountant General of the state transferred all government shares to Sokoto State Investment Limited through an official letter.
“Between 2018 and 2023, these shares were sold, but the proceeds are unaccounted for.
“This, the commission has been called upon to investigate the sales and trace the whereabouts of the funds,” he said.
Amanzi further revealed that the memoranda indicated a total sum of N16.1 billion was allegedly unaccounted for from these sales.
Amanzi added that N4 billion out of the amount was distributed to private and corporate accounts without justifiable cause.
Additionally, the commission received memoranda from individuals and corporate bodies raising concerns on various issues, including land disputes, encroachment, and related matters.
One of the complainants, Alhaji Abdullahi Yalwa, urged the commission to thoroughly examine their grievances, expressing optimism that justice would ultimately be served. (NAN)
