A serving minister in President Muhammadu Buhari’s cabinet has allegedly purchased a massive edifice worth N280 million in the Federal Capital Territory (FCT), Abuja

The property according to report was purchased in 2017.

The minister, who was staying in an N8 million per annum rented apartment when he became a cabinet member in 2015, has already moved to the palatial house with his security detail.

The minister’s acquisition is currently being investigated by the Presidency.

The Presidency got wind of the purchase following a petition to the President.

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It was gathered that the cabinet member, who is a substantive minister was summoned by the Presidency to explain how he came about the funds for the purchase of the house, which is located in the highbrow area of Abuja.

He was said to have told the Presidency that he secured the property with a mortgage.

It was further learnt that the Presidency was, however, not satisfied with minister’s explanation.

“The minister explained that he took a loan from one of the banks to fund the payment. Of course, the Presidency wasn’t satisfied with his explanation because it is begging the question. How does he intend to fund the loan from his salary, especially when he didn’t purchase the house for commercial purposes?” a source in the Presidency said.

The source noted that the minister, who claimed that he doesn’t have the cash to fund such a purchase, but relied on bank loan that will be payable over a period of time, is already moving around to ensure that the issue is quelled within the Presidency.

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