The Board of Directors (BOT) of FEDUP Association for the Support of Urban Poor, a multipurpose cooperative society, has assured members of its commitment to recover the over N200 million allegedly defrauded by the former management of the association.
The Secretary of the board, Barr Yusuf Zakari Edego, made the pledge while addressing journalists on the state of affairs and way forward of the association on behalf of the board, Thursday in Abuja.
Edego, who was flanked by the Vice Chairperson of the board, Dr Rakiya Booth, said the sole objective of FEDUP was to provide social affordable houses for subscribed members, noting that the new board headed by HRH Emmanuel Yepwi (Sakaruyi of Karu, Abuja), was elected at the association’s Annual General Meeting (AGM) on November 16, 2019.
According to the secretary, “There was a former management headed by one Mr James Ugah who defrauded the association of millions of naira.
“He was arrested, charged to court, and remanded in Kuje Prisons for several months for fraud and mismanagement of FEDUP funds and the case is ongoing at FCT High Court II in Jabi.
“In view of the issues of mismanagement and maladministration, members of FEDUP called for AGM on November 16, 2019, and vote of confidence was passed on the former BOT members a d they were removed by a majority vote.
“A BOT were elected to replace them by a unanimous majority vote with HRH Emmanuel Yepwi (Sakaruyi of Karu, Abuja) as chairman of the new BOT to see to the re-engineering and regrouping process that saw FEDUP members start afresh.
“The new management inherited zero account balance. We have not opened or operated any account that the previous management had; they are still inaccessible due to issues on ground.”
Speaking further the secretary, who numerated the achievements of the board in the last one year, restated their commitment to providing social housing.
According to him, “We are soaring higher as we unfold other arrangements knowing that the need for social housing is yet to be achieved even with our members.
“It is our sincere prayer that the FEDUP members should please bear with the management on the issue of the past. We are working on them. We shall unravel the issues to bring justice.”
