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Wednesday, May 29, 2024

How Ikpeazu Paid N107.2bn To Contractors For Non-Existent Abia Airport, Other Projects



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A forensic audit conducted by an audit firm has revealed how the immediate past government of Abia State approved funds to contractors for the construction of non-existent state-owned Airport and other infrastructure.

The Abia State Governor, Dr Alex Otti made the revelation during a presentation at the Johns Hopkins University School of Advanced International Studies, Washington DC, United States.

He spoke on the theme, ‘Dynamics of State Governance, Economic Transition and the Challenges of Seeking to Establish a New Order Amidst Multiple Constraints and Pushbacks.’

Otti said it is difficult to admit how some Nigerian leaders contest elections for reasons shrouded in corruption.

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The governor who took over from Okezie Ikpeazu in 2023 explained that some politicians have abused the privilege of governance thereby impoverishing their states.

Otti explained how he engaged one of the top audit firms to examine the state accounts, adding that the auditor uncovered several deals that are shrouded in corruption.

He said, “Talking about corruption, I set up a forensic audit as soon as I took over last year in Abia so that there won’t be any argument, I called in one of the top three audit firms in the world and not too long ago, they sent in their report and some of the things in the report are frightening.

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“So, N79.3bn was paid to seven contractors for contracts that were not executed at all up till today. Another N15.9bn- almost N16bn was paid to 63 contractors with no supporting documents anywhere in the State.

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