Wike accuses banks of frustrating contract execution pace in Rivers

Rivers State Governor Nyesom Wike has accused some banks warehousing funds for contract execution in the state of not being forthcoming in prompt release of such funds when request coupons arrive.

Speaking at the flag-off ceremony for the construction of Aluu-Omagwa Road in Aluu, near Port Harcourt, on Saturday, Wike said the concerned banks would not release the funds as promptly as is needed, thus delaying project execution in the state.

Rivers State is executing nine flyovers so far and hundreds of roads across the state, for which Wike has since assumed the sobriquet of ‘Mr Projects’. This priority got a boost late 2020 when the FG released N78.9bn to the state from federal projects executed by past administrations. The Wike administration has not looked back ever since in inaugurating more flyovers and roads.

Now, it appears the problem of the state is not money to execute projects but the ability of the warehousing banks to release the funds as fast as the state yearns for funds.

Wike said banks were frustrating the delivery pace of projects and that he would allow that to happen. He warned that the state government would not hesitate to terminate any contract it has with such banks.

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The governor said he was reacting to complaints that some financial banks that receive money and handle various payment schedules for his administration often failed to release agreed contract sums to contractors.

“Part of the problems we have is the banks. When you give contractors money, the banks will make sure that they delay release of the money,” Wike said.

“The next time any of our contractors complain about their funds not being released to them, that will be the day we will terminate any relationship we have with them [the bank].

“No bank will hold us to ransom. We cannot continue to work like this. Nobody will frustrate our work. Any contractor that is being frustrated by them, do not hesitate to let us know. We cannot allow them to frustrate our work,” he said.

On election promises, Wike said he has fulfilled every promise made to the people of Ikwerre Local Government Area that included schools and roads.

Wike said having received such measure of development projects, the local council should stop being politically naïve, particularly when it comes to giving more votes to the Peoples Democratic Party (PDP).

“All these things I have done without giving excuses. But when it is your turn, you’ll say they came and carried your results away. Stay and defend your votes. It is a challenge to Sir Celestine Omehia, Chris Orji and Samuel Nwanosike, all of you.

“I do know that all of us have agreed to do this together. Therefore, whatever promise we have made as a party, and as an administration, we have no excuse but to fulfill the promise that we have made to you,” Wike said.

Tele Ikuru, former deputy governor of Rivers State, described Governor Wike as a champion who puts the interest of the state above all other considerations.

“A people deserve the kind of leadership they get. In 2015, we were offered two choices: a champion and an accredited stooge. We selected you the champion,” Ikuru said.

“Between the time you’ve come to government and today, it is one project or the other. It is either you’re commissioning or flagging off project.

“You have shown your love for this state numerously. For everything that you discuss with any person anywhere and place, you will discuss the interest of Rivers people into it,” he said.

Elloka Tasie-Amadi, Rivers State Commissioner for Works, said the Aluu-Omagwa Road would be reconstructed to 9.82km long and 9.3km wide.

He said the road would bring transportation access, serve as alternative route to Omagwa and the Port Harcourt International Airport, and also attract numerous benefits to the host and adjoining communities.

On his part, Samuel Nwanosike, chairman of Ikwerre council, thanked the governor for the numerous projects his administration has executed in the council.

He stated that when the road is completed, it would boost the economic fortune of farmers who will be able to take their produce to markets in Port Harcourt and other parts of the state.