*Kwara Must Change petition KWHA to investigate former Governor over alleged fraud and mismanagement*

A leading pro democracy group in Kwara State, Kwara Must Change has dragged the immediate past governor of Kwara State, Alh. Abdulfatah Ahmed to the Kwara State House of Assembly over the mismanagement of over N3billion handed over to Harmony Holdings Limited.

The group also asked the assembly to investigate mismanagement of over 20 Kwara State companies and corporations handed over to the company by the former Governor.

In a petition submitted to the Kwara State House of Assembly with the heading, " petition for investigation into endemic acts of corruption, mismanagement and outright fraud at Harmony Holdings Limited", signed by the convener of group, Abdulrazaq Hamzat, Kwara Must Change re-established the process surrounding the establishment of Harmony Holdings and subsequent taken over of over 20 companies belonging to the Kwara State government as contained in a report submitted to the Kwara State government by a committee setup by the Kwara State Governor, Abdulrahman Abdulrazaq.

The group also reflected on controversies that have characterised the activities of Harmony Holdings.

According to the petition, sometimes in 2012, during the administration of Governor Abdulfatai Ahmed, a company named Harmony Holdings Limited took over the management of many companies and corporations belonging to the Kwara State government. However, since taking over the establishments, all activities of the company and that of its subsidiaries are done in secrecy, including sales and disposal of government properties in its custody.

Referencing a report by the Senator Makanjuola Ajadi led committee on review of sales and disposal of government assets and properties between 1999 till date, the group stated that, immediately Harmony Holdings was incorporated, the company was given a takeoff capital base of N2.5billion by the Kwara State government. This is in addition to the transfer of over 20 companies and corporation, belonging to the Kwara State government to the company for management.

Explaining how the funds and properties were mismanaged. Kwara Must Change said, many properties of subsidiary companies transferred to Harmony Holdings Limited in 2012 have been sold off without due process or knowledge of the subsidiary companies, adding that those properties were not only sold out without consent of the subsidiaries who own 99% shares, they were actually sold at ridiculous prices to officials of Harmony Holdings Limited who are cronies of the past government, and same goes for properties on lease and in some cases.

"The properties were sold, with no trace of payment and all of these were done without any due process" the group said.

According to the petition, "In addition to the N2.5billion given to Harmony Holdings Limited as capital base in 2012, Kwara State government also released the sum of N404million to the company between March 2012 and July 2013 as float for operating expenses, rent office renovation and procurement of fixed assets. This is in addition to another N184,369,818 from the business share of Shonga Farm to Harmony Holdings Limited as well as another N474,694,999 from Shonga Farm within the same period".

"It is hereby established that, Kwara State government had given Harmony Holdings over N3billion in cash, then handed over 20 companies and corporations for management to the company since 2012 and till date, no dime has been remitted to government purse, despite selling many properties under its care and management" the group said.

Based on the above stated facts as contained in the report of a committee constituted by the Kwara State Governor Abdulrahman Abdulrazaq, Kwara Must Change demanded that the Kwara State House of Assembly invite former Governor Abdulfatah Ahmed to shed more light on what led to the transfer of over 20 companies and corporations belonging to Kwara State government to Harmony Holdings Limited for management without any accountability.

Kwara Must Change also said that the former Governor need to be questioned on why over N3billion government fund was handed over to the company without any returns on investment to government in 7 years.

Kwara Must Change also wants the former Governor to explain, why Kwara State government continue to bear the burden of repayment of loans taken by some of the over 20 companies and corporations such as Kwara Express, whose management had already been taken over by Harmony Holdings Limited since 2012.

The group also stated that, since Harmony Holdings Limited have only 1% share of the company they are managing, with the subsidiaries having 99% shares. This means that, the board of the subsidiaries must approve every action being taken on its behave by Harmony Holdings Limited including sales and disposal of its properties, but unfortunately, this was not the case. It said that KWHA needs to question the former Governor why many properties of subsidiary companies transferred to Harmony Holdings Limited in 2012 have been sold off without due process or knowledge of the subsidiary companies.

Additionally, Kwara Must Change also asked KWHA to invite Executive Director of Harmony Holdings Limited, Mr Adebayo Sanni to explain why the company has been unable to provide any returns to Kwara State government for 7 years, despite receiving over N3billion and over 20 companies and corporations for management.

It also said Mr Adebayo Sanni needs to explain, why the company was acting beyond its management mandate, particularly as regards sales or disposal of subsidiaries properties without approval from its subsidiaries and why subsidiaries properties are being unduly sold to Harmony Holding officials, sometimes without record of any payment.

End

Kwaruption eberywia

If you are from Kwara, you will feel their pain

Thank God these termites are out of government House.

Its really important they are out