A spokesman for Atiku’s PCC, Charles Aniagwu, has explained why the use of SPVs is not criminal amid allegations against his principal. Aniagwu said this on AIT News while reacting to an audio recording allegedly linking Atiku to the creation of SPVs.
Addressing the topic, Aniagwu said, “SPVs are not criminal innovations, and we must understand why they are created.” There are times when an individual or firm may not have all the resources required for a project and multiple experts’ expertise is required. For example, before the Delta State government created the Asaba Airport, the did not exist. However, before we went into the airport concession, we discovered that one firm could not run the airport.
He continued, “Our advisers told us to bring in individuals with expertise in different areas.” We needed people who could supply fuel, operate terminals, and handle cargo. Since we could not give it to a single firm, we invited the involved parties to create an SPV and establish the Asaba Airport Company, where these parties became shareholders. This enriched the project. I had to clarify this so that Nigerians would not assume that SPVs are only used for corruption.
You may recall that Atiku was accused of using SPVs after an audio recording allegedly involving the PDP flagbearer went viral.
You can watch the interview here. (1:50:00 minute)
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