Nigerian Lawmakers probe aviation college over illegal sale of two training helicopters

The House of Representatives has launched an investigation into the sale of two training helicopters from the Nigeria College of Aviation Technology (NCAT) in Zaria, raising concerns about transparency and potential financial irregularities.

Key Allegations:

• Below-market Sale: Lawmakers, led by committee chairman Rep. Ademorin Kuye, expressed outrage that the two Bell helicopters were sold for $650,000 and $550,000, respectively, representing less than 20% of their original cost. This raises questions about fair market value and the potential undervaluation of public assets.
• Questionable Auctioneer: The committee found that the company responsible for the auction was not registered with the Corporate Affairs Commission (CAC) and lacked certification from the Institute of Auctioneers in Nigeria. This casts doubt on the legitimacy and transparency of the auction process.
• Financial Discrepancies: The committee further alleges that NCAT under-remitted sales proceeds to the federal government’s single treasury account and used outdated exchange rates, potentially leading to financial losses for the government.
• Ignored Interest: Lawmakers claim that NCAT ignored inquiries from security agencies interested in acquiring the helicopters, raising concerns about proper consideration of potential buyers and potential national security benefits.
• Unidentified Buyers: The committee alleges that the helicopters were sold to companies whose records could not be found with the CAC, fueling concerns about the identity and legitimacy of the buyers.

College’s Response:

• New Rector Unaware: The acting rector, Shaka Imalighwe, appointed in December 2023, claims he had no knowledge of the sale process, indicating potential internal lapses in information sharing and transparency.
• Need for Further Investigation: Mr. Imalighwe requested permission for the head of quality assurance and procurement to explain the sale, suggesting further evidence may be available.

Next Steps:

• The committee has summoned the auctioneer and demanded all relevant documents related to the transaction.
• The Central Bank of Nigeria will be asked to provide details on the exchange rate used during the sale period.
• The committee will likely continue its investigation to uncover the full extent of the alleged irregularities and hold those responsible accountable.