Alleged ICPC probe: Yar’Adua Foundation denies ownership of property

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THE Shehu Musa Yar’Adua Foundation on Wednesday denied ownership of an asset linked with it by the Independent Corrupt Practices and Other Related Offences Commission as part of the seizure of assets worth N N4.8 billion.

The Director-General of Shehu Musa Yar’Adua Foundation, Jacqueline W. Farris made the clarification in a statement in Abuja.

The statement said: “Our attention has been drawn to a newspaper article citing ICPC spokesperson, Mrs Rasheedat Okoduwa, claiming seizure of property belonging to the Shehu Musa Yar’Adua Foundation for tax evasion.

“Following our request for clarification, the Independent Corrupt Practices & Other Related Offences Commission has confirmed that their reference is not to the Shehu Musa Yar’Adua Foundation, RC No. 350618.

“For the record, the Yar’Adua Foundation owns no property apart from the Shehu Musa Yar’Adua Centre located at One Memorial Drive, Central Business District, Abuja.

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“The Foundation wishes to assure the public that we are in full compliance with all tax regulations and have received our tax certificate for the year 2018 TCC NO: 10459848.”

The ICPC on Monday said it has moved to seize plots of land and buildings which cumulative value has been put at N4.8 billion from 30 companies operating in Nigeria.

It listed some assets to be seized as 22.9 hectares of undeveloped land, one plaza, and a block of six two-bedroom flats located in Wuse, Zone One, Abuja belonging to Shehu Musa Yar’ Adua Foundation, Vibrant Issuance Brokers, Millard Fuller Foundation, Maibuhu Farm and Construction Limited, Gabcon Enterprises Limited and a host of others.

ICPC statement added: “In the course of the investigation, the alleged owners of the properties disclaimed ownership.

“The move to seize the properties spread around Abuja, followed a petition to ICPC by the Federal Inland Revenue Service (FIRS), accusing the companies of defaulting in tax payment to the tune of N288.2 million.

“Section 37 of the Corrupt Practices and Other Related Offences Act 2000 empowers ICPC to seize assets alleged to be subject of an offence under the law while Section 48 authorises it to apply to a High Court for an order of forfeiture within 12 months of the date of seizure.”

The post Alleged ICPC probe: Yar’Adua Foundation denies ownership of property appeared first on Tribune Online.

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