Home / News / Ambode Indicts Fashola, Cancels Contract For Falomon Shopping Mall
By on August 20, 2015
By OKECHUWU PEACE
Lagos State Governor, Ambode Akinwunmi has indicted his predecessor, Babatunde Raji Fashola on the award for Falomo Shopping Centre, Ikoyi.
The government on Wednesday terminated the concession granted by the Lagos State Development and Property Corporation under the Fashola administration by Afriland Properties for the redevelopment of the complex
In a statement, Governor Akinwunmi Ambode’s Chief Press Secretary, Mr. Habib Aruna, said the governor approved the termination of the project based on a recent discovery that the concession was “grossly detrimental to the interests of the people of the state”.
The statement said, “Only N50m was paid by the concessionaire for a 50-year lease of the property belonging to the government.
“The government, as custodian of the interests of Lagosians, is committed to the restructuring of the LSDPC to ensure it begins to provide positive capital returns to the state for the ultimate benefit of the people.”
The statement added that Ambode recently relieved the former Managing Director of the LSDPC, Mr. Biodun Oki, of his appointment and appointed Mr. Jacob Agosu as acting M.D, of the Corporation to stem the tide of negative capital returns of the corporation.
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