Alleged Diversion of KWASU Subventions: Governor Ahmed Rejects Allegations As False

Alleged Diversion of KWASU Subventions: Governor Ahmed Rejects Allegations as False

Kwara State Governor, Alhaji Abdulfatah Ahmed has denied social media claims that he is pressuring the Vice Chancellor of Kwara State University(KWASU), Professor R. Naalah to falsely admit that the institution has received subventions from 2015 to date.

Speaking through a statement by his Senior Special Assistant on Media and Communications, Dr. Muyideen Akorede, Governor Ahmed also rejected as untrue the allegations that his administration diverted KWASU subventions and challenged those behind the false publication to provide any shred of evidence to support their phantom claims.

According to him,  KWASU bank records and budget figures are available for verification by those interested in the truth and Kwara state’s interest.

Providing further clarification, Alhaji Ahmed stated that in the light of financial challenges, the state government reviewed KWASU’s finances in 2015 and concluded that the university could meet its basic obligations such as salaries from existing fees and levies while the state government took responsibility for infrastructure and accreditation costs.

On account of that review, he said, the state government stopped KWASU’s monthly subvention of N144m but made provision for capital expenditure and accreditation in subsequent budgets.

While maintaining that the state government has provided KWASU with an Engineering Complex, new School of Business and Governance and ongoing construction of Osi and Ilesha Baruba campuses, the state governor pointed out that the decision to stop subventions was sound as KWASU has since met its obligations without recourse to the state government.

Governor Ahmed, therefore, denounced the claim that the government diverted KWASU’s subvention as blatant falsehood designed to blackmail the administration and cause disaffection in the state, as the state's budget had no such provision.

Stating that his administration always follows due process and promotes high levels of transparency, Governor Ahmed described the brains behind the campaign of falsehood as enemies of the state who manufacture lies to create discord between the government and the people.

Alhaji Ahmed said the people of Kwara State should have realised by now that those behind the serial falsehood targeted at his administration are against the state and must not be allowed to destroy it with concocted lies.

“Kwara State is bigger than any of us and cannot be sacrificed for individual or group interest. My administration has run a transparent government based on due process and the rule of law. These individuals should, therefore, allow the Transition Implementation Committee to do its work of midwifing a smooth change of government that will benefit Kwarans instead pushing their narrow selfish agenda through blackmail and obvious falsehood”, said Governor Ahmed.

NO CORRUPTION AT HARMONY HOLDINGS LIMITED-KWSG

NO CORRUPTION AT HARMONY HOLDINGS LIMITED-KWSG

The Kwara State Government has denied social media claims purportedly attributed to the former Managing Director of Harmony Holdings Limited, (HHL) Dr Shehu Kuranga Mohammed alleging corrupt practices concerning state government properties managed by the company.

In a statement, the state government said the claims of corruption at HHL involving management of state-owned property are creations of the fertile imagination of its authors. It also absolved Governor Abdulfatah Ahmed and the Senate President, Dr Bukola Saraki of any involvement in the planned lease of a prime state-owned property located in Lagos or in any illegal transaction involving other state-owned assets. Rather, the government maintained that transactions relating to the proposed lease followed due process and involved relevant state agencies.

The statement also denied the claim that Dr Mohammed resigned due to pressures from Government House to engage a particular company to manage the Victoria Island, Lagos property and to financially disadvantage the state in favour of a private company or individuals.

Instead, the government said, Dr Mohammed was asked to review the companies shortlisted for managing the property, recommend one or come up with an alternative company but resigned before the process was completed.

The government stressed that Dr Mohammed was personally head-hunted by Governor Abdulfatah Ahmed based on the former incumbent’s corporate finance experience and capacity and not at the request of the Ilorin Emirate Descendants Progressive Union (IEDPU) as wrongly claimed.

It, therefore, urged the public to ignore the lies about HHL and warned those bent on playing politics with government-owned entities to  have a rethink and be mindful of the long-term impact on the image of Kwara State as investors may be reluctant to partner the state if the negative atmosphere of needless controversy is allowed to persist.

The full statement reads thus:
“We have become aware of a social media post alleging corrupt practices at Harmony Holdings Limited, a company fully-owned by the Kwara State Government. For the avoidance of doubt and in the interest of the people of Kwara State who are the ultimate owners of HHL and the assets it is managing, we wish to state clearly that the allegations in the said post are lies concocted in a futile bid to embarrass the administration of Governor Abdulfatah Ahmed.

To restate, Harmony Holdings Limited is a product of the administration’s quest to innovate new funding sources for government programs in the light of a fragile global economy and unstable federal allocation.

To insulate the state from these uncertainties and keep it on a firm pedestal for the benefit of its people, reforms were necessary. One of them was HHL, especially given the existence of state assets which were constituting a drain on state resources rather than augmenting them.

In the light of the vast investment and revenue potentials of these state-owned assets, it was decided to recruit for HHL only those with the capacity and pedigree to successfully attract private partners to invest funds in the dormant assets, and significantly boost the state government’s revenue.

An essential skill in this regard was previous Corporate Finance and related management experience which was deemed necessary for the task of making HHL achieve its target of N50b in annual revenues and ranking as one of the top holding companies in the country. It is also reflected in the capacity, experience and pedigree of the previous board which was headed by a Professor of Public Finance and included credentialed individuals with a strong finance, business and academic backgrounds.

It remains the government’s understanding and resolve that the task of turning these state-owned assets to revenue generating ventures can only be achieved by management manned by technocrats with the necessary capacities.

This need for a Chief Executive with relevant requisite capacity for HHL was the spirit behind Dr Mohammed’s recruitment by the state government when the previous board’s tenure expired.
His mandate was to focus not on HHL’s ongoing concerns that were already contributing revenue but on turning high value but dormant assets into income generating ventures for the government. One of the assets was a state government-owned commercial property located at Victoria Island, Lagos. Before Dr Mohammed’s appointment, the said property was the subject of litigation. Subsequently, the property was tied up for the duration of the court case which the state government eventually won. HHL was then instructed to review a shortlist of companies bidding for the lease, to recommend one or make new recommendations. 
Dr Mohammed resigned before the ongoing process to choose a preferred bidder with the required competence and capacity to manage the property, which followed necessary processes and involved other state agencies,  was completed.
It is therefore untrue that Governor Abdulfatah Ahmed is involved in any corrupt deals at HHL or any effort to influence the selection of any company to manage government assets. The state government also exonerates the former state governor and Senate President, His Excellency, Dr Abubakar Bukola Saraki of any involvement in any aspect of HHL’s operations, including the management and sale of any state government asset assigned to the company or indeed any other government property.
Signed
Dr Muyideen Akorede,
Senior Special Assistant, Media and Communication to the Kwara State Governor.

Harmony Holdings Ltd Is Fully Owned By Kwara State Government

PRESS RELEASE

HARMONY HOLDINGS LTD IS WHOLLY OWNED (100%) BY KWARA STATE GOVERNMENT.

The attention of Harmony Holdings Ltd, the investments holding company of Kwara State has been drawn to certain misguided and false allegations being circulated in the media to the effect that certain Government companies, including Harmony Holdings Ltd “have been converted to private property” for the exclusive benefit of certain individuals in the State.

While stating that such allegations are blatantly false and totally far-fetched, we feel it is necessary to set the records straight and keep the good people of Kwara State and the general public informed about the true state of affairs as regards the ownership of referenced government entities.

For the umpteenth time, we affirm that Harmony Holdings Ltd is wholly owned (100 per cent), by Kwara State Government. Apart from registration documents (which are readily available for verification at the Corporate Affairs Commission), the Kwara State House of Assembly has since 2018 passed a resolution attesting to the ownership of Harmony Holdings by Kwara State.

Some other companies mentioned in the mischievous publication such as Kwara Cashew Processing Company Ltd, Patigi Regatta, International Cargo Terminal, are the shareholders of Harmony Holdings Ltd, on the basis of their being wholly owned by Kwara State. These companies are under the supervision of Harmony Holdings Ltd, representing the interest of the State.

Kwara State holds and continues to hold minority shares in Shonga Farms Holding Ltd (between 10% and 25%) and Kwara Mall Development Company Ltd (30%). These are held in the form of land provided for the businesses. Harmony Holdings supervises the minority interest of Kwara State in these two companies.

The attached documents (which bears the names of the immediate past directors of Harmony Holdings Ltd), attests to the ownership of Harmony Holdings Ltd and other referenced entities contrary to the falsehood being peddled.


Tunde Abodunde
Harmony Holdings Ltd.

Harmony Holdings Ltd is Fully Owned By Kwara State Government

PRESS RELEASE

HARMONY HOLDINGS LTD IS WHOLLY OWNED (100%) BY KWARA STATE GOVERNMENT.

The attention of Harmony Holdings Ltd, the investments holding company of Kwara State has been drawn to certain misguided and false allegations being circulated in the media to the effect that certain Government companies, including Harmony Holdings Ltd “have been converted to private property” for the exclusive benefit of certain individuals in the State.

While stating that such allegations are blatantly false and totally far-fetched, we feel it is necessary to set the records straight and keep the good people of Kwara State and the general public informed about the true state of affairs as regards the ownership of referenced government entities.

For the umpteenth time, we affirm that Harmony Holdings Ltd is wholly owned (100 per cent), by Kwara State Government. Apart from registration documents (which are readily available for verification at the Corporate Affairs Commission), the Kwara State House of Assembly has since 2018 passed a resolution attesting to the ownership of Harmony Holdings by Kwara State.

Some other companies mentioned in the mischievous publication such as Kwara Cashew Processing Company Ltd, Patigi Regatta, International Cargo Terminal, are the shareholders of Harmony Holdings Ltd, on the basis of their being wholly owned by Kwara State. These companies are under the supervision of Harmony Holdings Ltd, representing the interest of the State.

Kwara State holds and continues to hold minority shares in Shonga Farms Holding Ltd (between 10% and 25%) and Kwara Mall Development Company Ltd (30%). These are held in the form of land provided for the businesses. Harmony Holdings supervises the minority interest of Kwara State in these two companies.

The attached documents (which bears the names of the immediate past directors of Harmony Holdings Ltd), attests to the ownership of Harmony Holdings Ltd and other referenced entities contrary to the falsehood being peddled.


Tunde Abodunde
Harmony Holdings Ltd.