Just In: Former Abia Commissioner Reveals Ikpeazu Left N3.48bn Credit Balance For Otti’s govt(Full Details)

Chief John Okiyi-Kalu, former Commissioner for Information in Abia State, disclosed that the immediate past governor of the state, Okezie Ikpeazu, left a net credit balance of N3.48 billion for the present administration led by Governor Alex Otti…CONTINUE READING

In a statement issued on Tuesday, Okiyi-Kalu revealed that this information was contained in the Abia Forensic Audit report conducted by Klynveld Peat Marwick Goerdeler (KPMG), a multinational professional services network that provides audit, advisory, tax, and legal services.

Reacting to allegations made by Governor Otti against Ikpeazu, Okiyi-Kalu clarified that the former governor left more for Otti’s administration, emphasizing that “cash in the bank is different from other near-cash assets, such as a 3.5 per cent share in Aba Independent Power Project, IPP Geometric, now valued at N80 billion, among others.”

Governor Otti had claimed on April 6, 2024, that he inherited N192.2bn debt from his immediate predecessor, Okezie. He stated that some of the debts had been paid off with high-interest rates, adding: “It is tough, but we have to do it. We manage our expenses well and are able to live.”

In response, Okiyi-Kalu stated that contrary to the allegations against Ikpeazu by the current government, the former governor left more for Otti, and the net credit balance of N3.48 billion was sufficient to pay two months’ salaries for Abia State workers.

Part of Okiyi-Kalu’s statement reads: “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.

“Based on antecedents, never trust anything said by Governor Otti. He lies and misrepresents facts too frequently to be taken seriously.

“Did you notice that after I responded to his allegation of missing N10b with details of road contractors paid from the money, he said, “The money was moved into 32 different accounts” instead of the money being paid into 32 road contractors’ accounts?

Published By: Destiny.Jnr