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Allocation Of Vehicles By Ahmed Dangiwa To Former MD In Parity With Bank Policy

An investigation into the sales of 3vehicles by the Managing Director of Federal Mortgage Bank of Nigeria, Ahmed Dangiwa to its Former MD, Dr. Gimba Ya'u Kumo has been confirmed to follow due process and was in line with the Bank's policy. This was stated in a report containing all the necessary documents for the vehicle allocation, sales and acquisition.

The reports from a private investigation agency stated that the cost at which it was sold represented 10 percent net value of the vehicles, which is in parity with the bank’s policy. It also accomodates the privileges and reflected the severance package of its Former MD.

The investigation also confirmed that Ahmed Dangiwa, the MD of FMBN handed the documents in person to the Bank's former MD, after he has satisfied all the requirements for the acquisition of 3vehicles which the bank proposed to sell off.

However, the senate committee on public accounts may be aware that the sales and allocation of 3vehicles by the MD of Federal mortgage bank of Nigeria, Ahmed Dangiwa was in view of all the legal processes and was not in contrast with the bank's policy.

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