IG Gives Firms Six Weeks to Audit Police Investment Holdings, Subsidiaries

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Dele Ogbodo in Abuja
The acting Inspector General of Police (IG), Mr. Ibrahim Idris, yesterday gave Messers Nsebot William and Gbenga Abimbola, six weeks to undertake an audit of six investment companies and subsidiaries belonging to the Nigeria Police.

The measure, the IG stated  was in line with the government’s agenda to institutionalise fiscal discipline, transparency, probity and accountability in the management of public funds.

 The subsidiaries and companies of the NPF include its pension scheme, mortgage bank, cooperative arm and
the HMO scheme. The others are the NPF Insurance and its property development company.

The disclosure was contained in a statement signed by the Force Public Relation Officer, Donald Awunah, in Abuja. He said the audit firms have six weeks to carry out the special assignment.

The police boss directed the board and management of the investment bodies and subsidiaries to corporate with the auditing firms assigned to their respective outfit by allowing them access and other assistance to ensure smooth and successful exercise.

According to him, the exercise is aimed at carrying out due diligence to ascertain the true financial position, assets and liabilities of the force.
At the end of the exercise, he said recommendations on how to restructure and reposition these subsidiaries for effective and efficient services, profitability and return of investment to shareholders would be implemented.

The IG said fighting corruption at all levels is part of his vision for the police which is in tandem with the cardinal point of the present dispensation.

In their separate remarks, the principal partners of the audit firms, Friday Williams and Gbenga Abimbola, thanked the IG and his management team for finding them worthy to carry out the assignment and pledged their readiness to accomplish the job satisfactorily within the stipulated time.