latest
Former Abia Commissioner Counters Gov Otti, Claims Ikpeazu Left N3.49bn Credit Balance
Former Abia Commissioner Counters Gov Otti, Claims Ikpeazu Left N3.49bn Credit Balance
In a rebuttal to claims made by the current administration, Chief John Okiyi-Kalu, former Commissioner for Information in Abia State, asserted that the immediate past governor, Okezie Ikpeazu, left a net credit balance of N3.49 billion for the incoming government led by Governor Alex Otti. This claim comes in response to Governor Otti’s statements regarding the financial state of Abia upon his assumption of office.....KINDLY READ THE FULL STORY HERE▶
According to Okiyi-Kalu, the details of this financial status were verified by the Abia Forensic Audit report conducted by Klynveld Peat Marwick Goerdeler (KPMG), a reputable multinational professional services network. The former commissioner’s statement, issued on Tuesday, aims to clarify the financial legacy of the Ikpeazu administration amidst allegations from the current government.
Governor Otti had previously claimed on April 6, 2024, that he inherited a debt of N192.2 billion from his predecessor, Okezie Ikpeazu. He indicated that managing these debts had been challenging, but necessary actions were being taken to handle the financial burden effectively.
Okiyi-Kalu, however, countered these claims by emphasizing that Ikpeazu left the new administration with more financial resources than reported. He noted that apart from the cash balance, the state also holds near-cash assets, including a 3.5% stake in the Aba Independent Power Project (IPP) Geometric, which is currently valued at N80 billion.
He further highlighted that the N3.48 billion credit balance could have been utilized to cover two months of salaries for state workers, challenging the current administration’s portrayal of the financial situation.
“So far, Otti’s government has spent N9 billion on a subhead called ‘research and development.’ What is he researching and developing in Abia State? Check the quarterly financial reports published by his administration, if in doubt,” Okiyi-Kalu stated, urging scrutiny of the current administration’s expenditure.
The former commissioner also accused Governor Otti of frequently misrepresenting facts, citing a specific instance where Otti’s response to allegations of N10 billion in missing funds shifted the narrative from payments to road contractors to money being distributed across multiple accounts.
Okiyi-Kalu’s remarks underscore a contentious financial debate in Abia State, reflecting the broader political and administrative challenges faced by the new administration. The ongoing dispute highlights the need for transparent financial governance to build trust among the state’s stakeholders.
latest
Tragedy At JAMB Centre As Woman Dies While Accompanying Daughter For UTME.
A tragic incident occurred in Ilara-Mokin community, Ifedore Local Government Area of Ondo State, on Monday, when a woman identified as Oluwasola Adebayo reportedly collapsed and died while accompanying her daughter to a Joint Admissions and Matriculation Board (JAMB) examination centre.....KINDLY READ THE FULL STORY HERE▶
latest
Forensic Report Exposes Viral Allegation As INEC Boss Amupitan Cleared.
The Independent National Electoral Commission (INEC) has reaffirmed its defence of its Chairman, Joash Amupitan, stating that a forensic investigation has established that social media posts attributed to him were fabricated.....KINDLY READ THE FULL STORY HERE▶
latest
Dollar To Naira Exchange Rate Today, April 21st, 2026.
The current exchange rate between the US Dollar and the Nigerian Naira at the black market, commonly referred to as the parallel market (Aboki FX), has been outlined for April 20, 2026.....KINDLY READ THE FULL STORY HERE▶
-
latest8 months ago“Social Media Erupts As Jim Iyke Declares Rita Dominic Nollywood’s Most Beautiful”
-
latest2 years agoEdo Political Showdown: Oshiomhole Appears At Presidential Villa As Tinubu Hands APC Gubernatorial Flag To Okpebholo (Photos & Video)
-
entertainment2 years agoLove Knows No Age American Woman Defends Marriage To Young Nigerian Man “I’m Not 70”
-
latest2 years agoOlumide Akpata Strikes Again: Drops Killer Track, Sends Edo State Into Frenzy!(Video)
-
Politics2 years agoNigerians React As Pastor Adeboye Foresees Passing Away On A Sunday After Enjoying A Satisfying Meal Of Pounded Yam
-
latest2 years agoFG Identifies 31 States At Risk Of Heavy Flooding In 2024: See Full List
-
latest2 years ago5 NYSC Corpers Perish In Fatal Road Accident Returning From Camp
-
Politics2 years agoBREAKING: Inspector-General Of Police Summons Top Police Commanders For Crucial-Security Challenges
