Gov’t to Scrutinize Activities of Taraba Investment and Properties Limited.

Taraba State Government has reiterated its determination to reposition the Taraba State Investment and Properties Limited and the State Micro Finance Bank for better performance in line with the vision of the Rescue Agenda of the present administration.

Governor Darius Dickson Ishaku said this while inaugurating two committees that are to look into the activities of the two institutions from 2013 to date with a view to putting all the records in their right perspectives.

Inaugurating the committees on behalf of Governor, at the Conference Hall of the Office of the Secretary to the Taraba State Government SSG, the SSG, Hon. Anthony Jellason charged the two committees to be fair and transparent in carrying their investigations.

The SSG maintained that the purpose of the exercise is not meant to witch-hunt, explaining that, the Managing Director and Chief Executive of Taraba Investment and Properties Limited has been removed while the Chief Executive of the Taraba State Micro Finance Bank has been suspended to help ease their job.

He emphasized that the State Government expects them to do a thorough job and challenged them to leave above board while carrying out the assignment and to also present to Government accurate data that is transparent and acceptable, covering loans and grants accessed by the two institutions and how they were utilised with particular emphasis on loans and grants that have not been accounted for.

He revealed that Government is not comfortable with the way the two critical institutions of Government are being managed and reaffirmed Government’s determination to inject sanity and efficiency in the management the revenue driven institutions so as to be proactive and productive and effectively live to the expectations of both the Government and the governed positing that the two institutions should have been better than what they are today.

Responding on behalf of the two committees, the Chairman of Taraba Investment and Properties Limited, Aliyu Njeke thanked the State Government for finding them worthy and assured that they will work within the confines of their respective terms of reference and said they will not betray the confidence reposed on them by being fair and factual.

The terms of reference of the committee that is to look into the activities of Taraba Investment and Properties Limited which was read by the SSG which included, to verify 2014 loans collected from the Banks and to justify how it was utilised, to determine the number of houses sold to the public and how the proceeds were utilised, to verify into 2013/ 2014/2015 employments that were carried out and determine the cost implication and who authorized the such employments and to also obtain comprehensive list of investment carried out during the period of 2013/2014 to 2015.

The committee is to further investigate and advise Government appropriately on how to improve on the standard of the institution so that it would be more friendly and vibrant for investments in the future. The committee is expected to complete and submit its report within four weeks starting from today.

The Taraba Investment and Properties Limited committee has the Permanent Secretary Ministry of Commerce and industries as Chairman and the members are, Polycarp Ikpi, Abraham Bagu, Benjamin Ibitsu, Samuel Nev and Mallam Umar Chiroma is to serve as the secretary to the committee.

While the committee that is to investigate the activities of the State Micro Finance Bank has the following terms of reference, to verify how the sum of one hundred and fifty million Naira (N153, 000, 000, 00), that was given to the Bank for its recapitalization was utilised, to also ascertain how the sum of Seven hundred and fifty Million Naira (750, 000, 000, 00), out of the two Billion Naira (N2, 000, 000, 000, 00), granted the State Government through the Bank and to verify and confirm the release of one Billion, two hundred and fifty Million Naira (1,250,000, 000, 000, 00), given to the State Government out of the two Billion Naira (2, 000, 000, 000, 00).

Also included as terms of reference, the committee is to verify monies accrued to the Bank under the years under review and its utilization, to investigate and advise Government appropriately on how to improve the performance of the State Micro Finance Bank in the future and it has three weeks to submit its report to Government from the date of inauguration.

Hon. Fatima Hassan heads the Micro Finance Bank committee with Cosmas Saumam, Joseph Kachebri, and Shehu Samani as members while Usman Alfred is the Secretary of the Committee.