Ikpeazu Left Over N190 Billion In Loans, Debt – Abia Govt Reveals | SEE FULL DETAILS

As a reaction to the trending news that former governor of Abia State Dr. Okezie Ikpeazu PhD left billions of naira for his predecessor, Abia State Government has refuted that claim and has released details of loans and debt left behind by the Ikpeazu’s administration.

In a press release that was made available to ALL FACTS NEWSPAPER and signed by 4 government functionaries, they revealed that Dr. Okezie Ikpeazu’s administration left behind N77,927,939,042.82 as domestic loans, N42,289,206,109.84 external debt and domestic debt of N71,022,162,441.01 totaling N191,239,307,593.67 .

READ FULL BELOW:

ABIA FINANCIAL STATUS: SEPARATING THE FACTS FROM IKPEAZU’S FICTION.

BEING TEXT OF A PRESS CONFERENCE ON THE ALLEGED FUNDS LEFT BEHIND BY FORMER GOVERNMENT OF DR. OKEZIE IKPEAZU.

The Alex Otti led-government woke up to the shocking news of the several billions of naira allegedly left behind for the Alex Otti led-government by the former government of Dr. Okezie Ikpeazu.

We waited to see if Ikpeazu or his Spokespersons would refute the false and offensive claims, but to no avail, rather we saw astronomical increase in the number of his allies and former aides circulating the Fake News with the intention to misrepresent facts and deceive the public, especially workers and pensioners whom he treated with utter disdain and disregard.

To put the record straight and disabuse the minds of those who may have been misled, we have decided to address Abians and state that the Summary of ABSG Balances with different banks as at 28th May 2023 is as follows:

NATURE OF FACILITY, LOAN BALANCE AS AT 28TH MAY 2023:

1 UBA (8,012,830,371.44)

2 ZENITH BANK (21,557,168,761.71)

3 UNION BANK (597,637,399.55)

5 CENTRAL BANK (47,760,302,510.12)

   BANK BALANCES-TOTAL (77,927,939,042.82).

 DOMESTIC DEBTS.

7 SALARIES AND SUBVENTIONS ARREARS (18,162,102,692.92).

8 PENSION ARREARS (21,283,876,789.80)

9 GRATUITY ARREARS (27,012,996,061.64)

10 CONTRACTORS ARREARS (4,563,186,896.65)

  DOMESTIC DEBTS ARREARS-TOTAL (71,022,162,441.01)

11 EXTERNAL DEBTS (42,289,206,109.84)

  GRAND TOTAL

 (191,239,307,593.67)

For the records, the public should note thus:

1. The Okezie Ikpeazu-led government did not leave any N24 billion in the account of Abia state government as they falsely claimed.
2. The $ 200 million and $ 50 million dollars they claimed they left for the new administration are loans they were pursuing which is yet to crystalize.

3.. Outside the humongous financial liabilities left behind by the Ikpeazu-led government, they also left physical liabilities in all our key institutions. For example; our University Teaching Hospital lost accreditation for the first time in history.

Our only state Polytechnic also lost accreditation. The regulatory authorities predicated their action against these institutions on Non-payment of salaries, lack of Equipment and Lack of Infrastructure.

4. Poor internal generation of revenue, with the little they generated frittered away in payment to consultants for no added value. They pay as much as 20% which is highly unethical.
5. Doctors who have been on strike since February 2023 just called off their strike, and they emphatically stated that they based their decision on their conviction that Governor Otti would solve the problem that necessitated the strike action.
6. Finally, the elementary question is; if Ikpeazu had the billions he claimed to have left behind for the Otti led-government in April and May, why did he not pay workers and pensioners before leaving office, since Governor Otti just took over from.him on the 29th of May 2023?

If Ikpeazu is trying to preempt anti-corruption agencies by making such provocative false claims, he should know that they work with facts and figures, therefore even if he runs into the APC to seek refuge as he is planning to do, these anti-corruption agencies would pursue and bring him to justice from there.

Ferdinand Ekeoma

Special Adviser

(Media and Publicity) to the

Governor of Abia State.

Mr. Kazie Uko

Chief Press Secretary to the Governor.

Mr. Mike Akpara

Special Adviser to the Governor on

Finance.

Mrs. Njum Onyemenam

Accountant General of Abia State.

15-06-2023.