arasePolice are to interrogate 20 suspects over a massive fraud running to over N30billion in the sale of the Federal Government-owned houses located in choice areas of the country.
The fraud, which was unearthed by operatives of the Police Special Fraud Unit, PSFU, Alagbon, Lagos, was allegedly perpetrated by a cabal within the Presidential Implementation Committee, PIC, a body saddled by the Federal Government with the sale of the houses in the major cities of the country.
The alleged cabal was said to have been fleecing unsuspecting Nigerians seeking to buy the houses.
The 20 suspects were identified by the SFU when it investigated a petition submitted to the Commissioner of Police in charge of the Special Fraud Unit by a company, Multiplication Global Trade Limited.
After the investigation, the police, sources said, came to a conclusion that a cabal had been operating within the PIC to defraud property buyers.
The police report into the petition which was obtained by Nigerian Pilot detailed how some officials of the PIC colluded with outsiders to defraud sitting tenants by denying them their rights to buy the affected houses contrary to government’s laid down procedures for selling them.
The report stated in part: “Discreet investigations revealed that there actually exists a cabal within the PIC whose modus operandi is described below.
“That as soon as sitting tenants of any government property expresses interest to buy their flats in accordance with government policy and the PIC has profiled such tenants and found them qualified, the information about such property is immediately passed to members of this cabal who would approach the tenants and make offers to buy the property of their interests at very ridiculous rates, usually between N10 million and N12 million maximum per flat, with subtle threats and intimidation that either they accept or they shall be disqualified.
“The tenants are usually informed that they must all make payments for their respective flats together as one. Having succeeded in putting sufficient fears in the tenants, they are now compelled (the tenants) to give a joint letter of authorities to the supposed buyer to deal exclusively on their behalf with the PIC and pay on their behalf the offer price. Sometimes, the tenants are paid even before the offer letter is issued.
“This modus operandi was recently deployed to intimidate the present occupants of No. 6, Ruxton Street, Ikoyi, Lagos and in the process several high ranking police officers have been maligned as having interest in the property,” it stated.
The report further added that any member of the cabal being used for any property without paying a dime to government purse was allowed to source for buyers using the offer letter of the PIC and because the properties were usually in choices areas, buyers were easy to find.
“And having found a buyer for a price that usually double the government offer price, usually ranging between N650million to N900 million for Ikoyi property, such buyer is then instructed to raise a draft in the name of PIC on behalf of each tenant for the value of the offer price while the balance goes to the member of the cabal that has been assigned that property to handle and consequently shared the money,” the report added.
It also found some personnel of the PIC to be engaging in corrupt practices and abuse of office and may arraign them in court this week.


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