The Senate yesterday finally approved the recommendations of its adhoc committee that probed the commercialisation and privatisation activities of the Bureau of Public Enterprises (BPE).
The report had recommended the immediate removal of the Director-General of BPE, Ms. Bolanle Onagoruwa, for gross incompetence in the management of the Bureau and for illegal sales and fraudulent sale of five percent of Federal Government residual shares in Eleme Petrochemical Company.
Also, the senators asked that, “The NCP should rescind the sale of Daily Times of Nigeria to Folio Communications Limited in keeping with the court judgments in suit (1) FHC/L/CP/1328/2009, (2) FHC/L/CP/244/10, (3)? FHC/L/CP/130/2010.”
The report had specifically demanded that, “The sale of assets of Daily Times Nigeria Plc by Folio Communications Limited and its directors should be investigated by anti-graft agencies, and the sold assets recovered.”
Furthermore, the NCP was asked to reverse the sale of Transcorp Hilton as the owners have not kept to the terms of agreement regarding the sale.
The report said, “The NCP should rescind the sale of Transcorp Hilton for failure of the core investor to deliver on the following fundamental provisions of the Share Purchase Agreement/Post Acquisition Plans – Construction of a shopping mall within the hotel grounds, construction of short/long stay serviced apartments on the available land within the hotel premises to cater for corporate and similar clients whose needs may not be met by the typical hotel service structure.”
The Senate also asked the buyers of NICON Insurance to refund with interest, N900 million to the Federal Government, being money paid by BPE on February 2007 as contribution for recapitalisation with accrued interest.
The former Director General of BPE, Dr. Julius Bala, will also be investigated by anti graft agencies for giving approval to Folio Communication Limited for the illegal sale of assets of Daily Times Nigeria Plc.
The lawmakers equally endorsed the recommendation to reprimand past DGs of BPE, especially the pioneer DG, Nasir el-Rufai, for contravening the Act and reporting directly to the President.