A large scale fraud has been uncovered at the Kaduna State Development and Property Company (KSDPC).
The frauds amounting to N41,735,814.00 were allegedly perpetrated by two top Management staff and some Estate Managers as well as Account Clerks (names withheld).
Of the amount, N37,878,469 was allegedly misappropriated by the two top Management staff who were the Executive Director Finance and the Asst. General Manager, Finance and Accounts, while the remaining N3,857,345 was embezzled by 14 Estate Managers including account clerks through under-banking of rents or missing cash receipts in respect of estates located in various parts of Kaduna, Kafanchan and Zaria.
The frauds, the Penmaster gathered, blew open following the External Auditors Domestic Report of 2010 – 2012 which established the alleged misappropriation of revenue in the books of Account of the KSDPC.
The report which served as a whistled-blower led to the setting up of a committee by the Management to ascertain the level of involvement of each of those indicted by the audit reports.
Consequently, according to the sources, the officials were invited to appear before the committee which also took into cognizant of the written queries issued out to the officers and their submission on the queries.
The sources said some of the indicted officers admitted their involvement and made refunds, while those who could not do so, made written commitments to the committee as to how the misappropriated funds would be deducted from their monthly salaries.
It was against this background, the committee recommended to the Management to commence with effect from June 2015, the recovery of the monies from each of the 14 officers including three women through their salaries or any other means the company deemed fit.
In the case of the two top Management Staff, Penmaster further learnt that the committee recommended to the company to write the Supervising Ministry on the next line of action to be taken against the duo in view of their position.
When contacted, the Managing Director of the KSDPC, Mr. Richard John Aboki confirmed the misappropriation and that the Management was doing what is could to look into the committee’s recommendation.
Penmaster however gathered that the report was being suppressed by the KSDPC Management as a result of an alleged external influence.