FG Acquires Building For Investment Tribunal

The Federal Govern
ment have acquired a property worth N326 million for office accommodation for the Investment and Securities Tribunal (IST) in Abuja.
Making this known to journalists in Abuja, Friday, the Minister of Finance Dr Ngozi Okono-Iweala revealed that the Federal executive council approved the said sum of N326 million for the provision of temporary  office building for the tribunal.
She said that the approval was informed by the fact that the tribunal had over the years been grappling with the challenge of regular payment of rent on its office regular payment of rent on its office accommodation as well as threat of eviction from the rented office accommodation.
According to her, the property which is located at plot 1072 Cadastral Zone Block 10, Dakibiyu District, Airport Road in Abuja was procured to actually relieve the tribunal of the burden of rent payment and eviction threats.
She said, “The procurement will be funded from a grant of N410,004,8219.81 by the Securities and Exchange Commission (SEC) to the tribunal, based on a request by the minister of state for finance for the office building vehicle pool for judges and other operational purposes”.
According to her, after deliberations, the council approved the contract to procure the temporary office building.