Reps Probe Firm’s Failure to Remit N2b to FCT

By Dipo Olowookere

An investigation has been ordered into the failure of a firm based in Abuja to remit N2 billion proceeds to the FCT treasury.

The company, Abuja Investment Company Limited (AICL), was accused of not paying over N2 billion accrued as proceeds from about 13 investment firms it has interest in over the years to the FCT, its parent body.

A member of the House of Representatives, Mr Nkole Ndukwe, said on Wednesday that AICL is a world class investment firm with diversified subsidiaries and affiliates, having about $100 million under its management.

He noted that the company was formed in 2006 as the investment arm of the FCTA with a mandate to facilitate, encourage and attract investments into the capital city.

Mr Ndukwe lamented that the company, despite its rapid growth of investments, has not remitted the required revenue to the FCT treasury.

After debate on the matter on the floor of the House, Speaker of the House of Representatives, Mr Yakubu Dogara, ordered the House Committee on FCT to investigate activities of AICL.