A major crisis may engulf the Lagos Country Club (LCC), following allegations of financial impropriety, violation of the club’s Constitution and corporate governance ethics within the rank of its management council. Consequently, concerned stakeholders called on the BOT to urgently intervene, by investigating all allegations, meting out appropriate sanctions and restoring the club’s dignity. The petition also stated that a part of the contract for the club’s external remodeling, valued at over N100m, was awarded without recourse to due process. Akande, however, explained that though the expenditure for the anniversary exceeded the approved N26m, the excess spending was N6m above the budget. Asked if there was approval for the excess spending, in accordance with the club’s Constitution, the President could not answer in the affirmative.

Source: The Guardian January 12, 2020 04:18 UTC