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Is It True that Ikpeazu Left Nothing For His Successor?

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1 year ago

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Recently, we have been hearing the media noise from Abia State on what former Governor Okezie Ikpeazu, Ph.D left for his successor to start work with, and in 2-weeks of the new administration, the wrong impression has been created that Ikpeazu left only debts without leaving any cash or near-cash assets behind.

This my personal unsolicited intervention is simply to put the records straight to the best of my knowledge only.

1. As at the time of Dr Okezie Ikpeazu’s exit from office, the state was not owing any commercial bank including temporary overdrafts. He paid off all.

2. Abia State under the watch of Dr Ikpeazu invested $5,000,000.00 in Geometric Power Company. That’s a near cash asset.

3. As at Friday, 9th June 2023, the state received Twenty Four Billion Naira (N24,000,000,000.00) through the Nigeria Governors’ Forum as part of a total of N48b standing to the credit of the state. The money was earned under the watch of Dr Ikpeazu.

4. Ikpeazu’s administration perfected a Fifty Million Dollars ($50,000,000.00) World Bank facility at 0.06% interest rate with 10 years repayment moratorium for construction of more than 500km roads including Port Harcourt Road, Aba. The implication is that the current administration can commence drawing down on that facility from day one to construct critical roads in Abia State and will not have to repay the money over the pendency of its tenure, assuming it is up to 8 years.

5. African Development Bank facility of Two Hundred Million Dollars ($200,000,000.00) processed by the Ikpeazu administration is also ready for the new administration to access for construction of rural roads.

6. While the Ikpeazu administration superintended over the state for most of May 2023, it is the current administration that will receive the FAAC allocation for that month.

7. Similarly, internally generated revenue for the month of May 2023 is also available to the new administration.

8. Prior to the exit of Dr Okezie Ikpeazu from office , Abia State Government and office of accountant general of the federation reconciled their accounts with N6,000,0000,000.00 standing to the credit of the state. What that also says is that the Ikpeazu administration was not owing federal government but rather it was FGN thag owed the state. The current administration has access to that additional fund of N6b.

While we are still expecting the new administration to give the detailed composition of the alleged debts left behind by the Ikpeazu administration, it is safe to say that they are mostly long term development facilities, contractor debts and possibly outstanding payments to pensioners and salary earners.

In summary, it is my candid view that the new administration in the state can smoothly take off and service state liabilities with what it has without screaming or yelling!

Ikechukwu Iroha
Former Media Aide to Governor Okezie Ikpeazu

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Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

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6 hours ago

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November 7, 2024

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Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

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Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

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18 hours ago

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November 6, 2024

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The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

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Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

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20 hours ago

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November 6, 2024

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President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

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