Home » Ikpeazu left N3.49bn credit balance – Former Abia commissioner counters Governor Otti

Ikpeazu left N3.49bn credit balance – Former Abia commissioner counters Governor Otti

by John Ojewale
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Chief John Okiyi-Kalu, a former Commissioner for Information in Abia State, claims that the state’s immediate previous governor, Okezie Ikpeazu, left a net credit balance of N3.48 billion for the current government, led by Governor Alex Otti.

In a statement made on Tuesday, Okiyi-Kalu stated that the disclosure was contained in the Abia Forensic Audit report completed by Klynveld Peat Marwick Goerdeler (KPMG), a worldwide professional services network that offers audit, consultancy, tax and legal services.

The former commissioner clarified in response to charges levelled by the incumbent governor against Ikpeazu.

Recalls that on April 6, 2024, Governor Otti claimed to have inherited N192.2 billion in debt from his immediate predecessor, Okezie.

During an interview with media, the governor noted that some of the loans were paid off at high interest rates, adding, “It is difficult, but we must do it. We keep our spending under control and can afford to live.”

In response, Okiyi-Kalu stated that, contrary to the current government’s allegations against Ikpeazu, the former governor left more for Otti, emphasising that “cash in the bank is different from other near-cash assets, such as a 3.5 percent share in Aba Independent Power Project, IPP Geometric, which is now valued at N80 billion, among others.”

He stated that the net credit balance of N3.48 billion was sufficient to provide two months of salary for Abia State employees.

Part of the statement says:

“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 antecedent, 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?”


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cc: Daily Post Ng

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