Joseph Inokotong, Abuja
The Bureau of Public Enterprises (BPE) and Aso Savings and Loans (ASL) may be heading on a collision course over an estimated N2.5 billion the Bureau placed in the mortgage bank for staff housing. Trouble started on February 25, 2014, when the BPE made a placement of N2.5 billion in an account with the ASL to enable its staff access cheap fund for housing but it turned out that the staff could not get the required funding.
When the Federal Government on September 14, 2015 directed that all funds held with commercial banks be transferred to the Treasury Single Account with the Central Bank of Nigeria, the BPE discovered that ASL could not meet its deposit repayment obligations.
Subsequently, an agreement was reached between the BPE and ASL on how the money should be refunded. But despite the arrangement, ASL has defaulted till date.
Head of Public Communications, BPE, Amina Othman said: “On Feb. 25, 2014, the BPE got the approval of the Accountant-General of the Federation (OAGF) to establish a banking relationship with ASL.