National Insurance Commission, (NAICOM), on Thursday, said it followed due process in its acquisition of a N4 billion uncompleted property meant to house its Academy and offices.
The Head, Corporate Communications & Market Development, Mr. AbdulRasaq Salami, in a rebuttal, said the request for the acquisition was channeled through the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed who presented it at a Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari.
Before then, Salami said NAICOM obtained a “No Objection” from the Bureau of Public Procurement (BPP) following the valuation of the property by the Federal Ministry of Works and Housing.
He further explained that all documents relating to the property clearly state that the property was in an unfinished state.
The statement added that” adequate due diligence was conducted on the property for acquisition and all relevant approvals were secured by the Commission. “Provision was made in the 2022 approved annual budget of the Commission for the purpose of acquiring the building for the Commission.
