The Sokoto State Commission of Inquiry has launched an investigation into the alleged sale of state shares worth N16.1 billion during the administration of the immediate past governor, Aminu Tambuwal.

The shares were allegedly sold by Sokoto State Investment Limited, raising concerns about the handling of the funds.

Speaking to journalists on Tuesday, September 17, after the panel’s session, lawyer Amanzi Amanzi revealed that the commission was called upon to investigate unaccounted funds from the sale of government shares between 2018 and 2023. Amanzi alleged that N16.1 billion from the sales remains unaccounted for, with N4 billion of the amount reportedly transferred to private and corporate accounts without clear justification.

Amanzi also disclosed that the commission has received multiple memoranda from individuals and corporate bodies addressing various issues, including land disputes and encroachments, which will also be investigated.

He said; “In 2018, the accountant-general of the state transferred all government shares to Sokoto State Investment Limited through an official letter.

“Between 2018 and 2023, these shares were sold, but the proceeds are unaccounted for. This commission has been called upon to investigate the sales and trace the whereabouts of the funds.”