HEDA Tasks CBN On Alleged N30bn Contract To Isa Funtua

Isa Funtua…in the eye of the storm

BY EDMOND ODOK, ABUJA – One of Nigeria’s leading anti-corruption groups, Human and Environmental Development Agenda, (HEDA Resource Centre) has given the Central Bank of Nigeria (CBN) seven days to supply details on an alleged N30 billion contract awarded to a Nigerian company

The HEDA, in a request filed by its legal officer, Rebecca David, challenged the apex bank Governor, Godwin Emefiele, to “supply information on when was the contract for the renovation of the parking lot awarded, who was it awarded to and how much was the contract sum.”

Raising questions about the supposed contract, HEDA said it had obtained details indicating that the apex bank awarded a “contract to Bulet International Limited, a company alleged owned by Ismaila Isa Funtua, at a whopping N30 billion in 2019 for the expansion of its parking lot.”

According to HEDA, its demand for details of the said contract and evidence that the award passed through due diligence and process is based on the provisions of Freedom of Information Act 2011.

In a statement made available to the media, the rights group also “promised to monitor the implementation of the process using a retinue of its technical experts.”

The statement further said; “Given the volume of transactions, It is in the interest of the public to know the processes that led to the award of this contract and to know whether there was appropriate bidding in line with laid down principles.”

HEDA said; “Nigerians also deserve to know the state of the project, how much has been paid to the contractor and whether the contract is being executive in good faith.

“As the apex bank in Nigeria, the CBN has the constitutional and moral responsibilities to ensure due process, transparency and diligence in all its dealings and transactions. Unfortunately, we have not seen evidence to support this in some instances.

“Information about who gets what contract and how much should be public knowledge which the CBN should make available through its various organs including but not limited to providing details of such huge contract on its website. This has not been done. It is important to ensure that transparency remains the guiding principle of the CBN.”

Also contained in its filling is the group’s request for details on the procurement procedure employed in awarding the said contract.

“The CBN, as the apex bank, should set standards for all other financial institutions. The wave of transparency blowing across the world needs no visa to enter any country, including Nigeria.

“We expect the CBN to be the standard bearer in transparency and accountability. This is why the HEDA’s request is very important”, the statement said

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