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The Sokoto state commission of inquiry has commenced an investigation into the sales of the state’s shares worth N16.1 billion during the administration of Aminu Tambuwal, the immediate past governor.
The shares were sold by the Sokoto State Investment Limited.
Amanzi Amanzi, a lawyer, told journalists on Tuesday at the end of the panel’s session that the commission was called upon to investigate the sale of government shares unaccounted for between 2018 and 2023.
“In 2018, the accountant-general of the state transferred all government shares to Sokoto State Investment Limited through an official letter,” Amanzi said.
“Between 2018 and 2023, these shares were sold, but the proceeds are unaccounted for. This commission has been called upon to investigate the sales and trace the whereabouts of the funds.”
Amanzi alleged that N16.1 billion was unaccounted for from the sales of the shares, adding that N4 billion out of the amount was distributed to private and corporate accounts without justifiable cause.
The lawyer added that the commission received memoranda from individuals and corporate bodies, raising concerns on various issues, including land disputes, encroachment, and other related matters.