Nigeria, June 25 -- The Kwara State Government has scrapped Harmony Holdings, a firm it set up in 2012 to manage public assets, and reverted the properties to the care of the state Ministry of Finance Incorporated.

The state Commissioner for Communications, Bolanle Olukoju, announced the decision at the end of a state executive council meeting presided over by Governor AbdulRahman AbdulRazaq.

The council made the decision after the Commissioner for Finance, Hauwa Nuru, briefed it on the status of Harmony Holdings and its subsidiaries.

Mrs Nuru reported that the firms continued to record losses, despite several bailouts and loans facilitated by the state government.

Harmony Holdings' subsidiaries include Harmony Transport Services, Har...