Audit observed that an Estate Developer secured an approval of project loan of N697,900,000.00 for the construction of 200 housing units in Ilorin, Kwara state, which were to be occupied by civil servants in the state. It was however, observed that the developer after accessing a sum of N161,333,333.33 claimed not to be able to build the types of houses as contained in the agreement and instead, built few luxury houses.
Audit view this as a departure from the terms of the agreement, resulting in a breach of contract. It was also observed that the developer had since began the sale some of those houses to private individuals without recourse to the terms of the agreement.