It’s Wrong to Say Ikpeazu Left Nothing for Otti, Says Iroha

Segun James

A former media aide to the former Governor of Abia State, Dr Okezie Ikpeazu, Ikechukwu Iroha has said that it is wrong for the administration of Governor Alex Otti to say that his former boss left only debts without leaving any cash or near-cash assets behind. 

Iroha, who claimed he decided to speak out, said he needed to do so not because of anything but to get carry-out personal unsolicited intervention just to put the records straight to the best of his knowledge. 

According to him, at the time of Ikpeazu’s exit from office, the state was not owing any commercial bank including temporary overdrafts, adding that Ikpeazu paid off all. 

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

“As of Friday, 9th June 2023, the state received N24billion through the Nigeria Governors’ Forum as part of a total of N48billion standing to the credit of the state. The money was earned under the watch of Dr. Ikpeazu.”

Iroha said that Ikpeazu’s administration perfected $50million World Bank facility at a 0.06% interest rate with 10 years repayment moratorium for the construction of more than 500km roads including extremely dilapidated Port Harcourt Road, Aba. 

He added, “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 eight years. 

“African Development Bank facility of $200million processed by the Ikpeazu administration is also ready for the new administration to access for construction of rural roads.”

Iroha said that 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. 

He said that similar to the above, internally generated revenue for the month of May 2023 is also available to the new administration. 

“Prior to the exit of Dr Okezie Ikpeazu from office, Abia State Government and the office of the Accountant General of the Federation reconciled their accounts with N6billion standing to the credit of the state.  “What that also says is that the Ikpeazu administration was not owing the federal government but rather it was FGN that owed