Otti-Received ₦3.48 Billion From Ikpeazu, Former Commissioner Warns Against Otti’s Statements (Full-Details)

A former Commissioner for Information in Abia State, John Okiyi-Kalu, has revealed that the immediate past governor of the state, Okezie Ikpeazu, left a net credit balance of ₦3.48 billion for the present administration led by Governor Alex Otti…CONTINUE READING

Okiyi-Kalu made this disclosure while addressing allegations from Otti, who claimed to have inherited a significant debt from his predecessor.

According to Okiyi-Kalu, the information was derived from the Abia Forensic Audit report conducted by Klynveld Peat Marwick Goerdeler (KPMG), a multinational professional services network offering audit, advisory, tax, and legal services.

Otti had previously stated on April 6, 2024, that he inherited a debt of ₦192.2 billion from Okezie Ikpeazu’s administration. However, Okiyi-Kalu disputed this, insisting that funds were left for Otti’s administration.

He explained, “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.”

Okiyi-Kalu further criticized Otti’s administration, highlighting that ₦9 billion had been spent on a subhead labeled ‘research and development,’ without clarity on the specific projects undertaken.

He cautioned against believing Otti’s statements, citing a pattern of misinformation and misrepresentation of facts. Okiyi-Kalu pointed out Otti’s response to allegations of a missing ₦10 billion, where Otti claimed, “the money was moved into 32 different accounts,” instead of it being paid to 32 road contractors’ accounts.

Published By: Destiny.Jnr