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ICPC: Yar’Adua Foundation speaks on ‘ownership of asset, tax evasion’

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The Shehu Musa Yar’Adua Foundation has denied ownership of an asset linked with it by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) as part of the seizure of assets worth N4.8 billion.

The Director-General of Shehu Musa Yar’Adua Foundation, Jacqueline W. Farris, reacted in a statement in Abuja on Wednesday.

The statement reads: “Our attention has been drawn to a newspaper article citing ICPC spokesperson, Mrs. Rasheedat Okoduwa, claiming seizure of property belonging to the Shehu Musa Yar’Adua Foundation for tax evasion.

“Following our request for clarification, the Independent Corrupt Practices & Other Related Offences Commission has confirmed that their reference is not to the Shehu Musa Yar’Adua Foundation, RC No. 350618.

“For the record, the Yar’Adua Foundation owns no property apart from the Shehu Musa Yar’Adua Centre located at One Memorial Drive, Central Business District, Abuja.

“The Foundation wishes to assure the public that we are in full compliance with all tax regulations and have received our tax certificate for the year 2018 TCC NO: 10459848. “

The ICPC on Monday said it has moved to seize plots of land and buildings which cumulative value has been put at N4.8 billion from 30 companies operating in Nigeria.

It listed some assets to be seized as 22.9 hectares of undeveloped land, one plaza, and a block of six two-bedroom flats located in Wuse, Zone One, Abuja belonging to Shehu Musa Yar’ Adua Foundation, Vibrant Issuance Brokers, Millard Fuller Foundation, Maibuhu Farm and Construction Limited, Gabcon Enterprises Limited and a host of others.

ICPC statement added: “In the course of investigation, the alleged owners of the properties disclaimed ownership.

“The move to seize the properties spread around Abuja, followed a petition to ICPC by the Federal Inland Revenue Service (FIRS), accusing the companies of defaulting in tax payment to the tune of N288.2 million.

“Section 37 of the Corrupt Practices and Other Related Offences Act 2000 empowers ICPC to seize assets alleged to be subject of an offence under the law while Section 48 authorizes it to apply to a High Court for an order of forfeiture within 12 months of the date of seizure.”

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9 Comments Nigeria News
Oluwatosin• 7 months ago
Well read
Kmight• 8 months ago
Mayor11• 8 months ago
Danson92• 8 months ago
Jabless• 8 months ago
Donstefani• 8 months ago
Irphilippe• 8 months ago
emmanabis• 8 months ago
Yayuz• 8 months ago
Do yaradua has a foundation

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