• Thursday, February 29, 2024
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I left N7.5bn cash – Amaechi


Former governor of Rivers State, Chibuike Amaechi, has at last come out to state how much cash he specifically left behind, saying he left N7.5 billion in various accounts.

In an electronic mail sent to media houses including BusinessDay, Amaechi said he was reacting to a radio programme where his successor, Nyesom Wike, through his media aide, Opunabo Inko-Tariah, claimed to have met an empty treasury.

Amaechi said he felt the new governor needed an excuse for borrowing N30 billion in 30 days. The ex-governor, who has been at daggers-drawn with his kinsman and former ally, Wike, said on Thursday in Port Harcourt that he left behind a total of N7.5 billion cash as balances in the State Internally Generated Revenue (IGR) account with Skye Bank, FAAC account with Zenith Bank, balances with Access Bank and funds in the state’s reserve fund account in First Bank.

“This is besides other balances in the state Government House account with Zenith Bank and other government MDA account, like the Bureau for Public Procurement (BPP).

“By the time you pull all these together, we are looking at readily available cash in the region of eight to ten billion naira left for the Wike administration.”

The statement also said former governor Amaechi also left economic assets worth tens of billions of naira for the State. “Just like cash, the assets also store value. These assets that are scattered in diverse sectors of the economy were developed or built or procured with revenue that accrued to the state during Amaechi’s tenure.

The assets belong to Rivers State, not Amaechi.  Some of these assets are presently yielding revenue to the state’s coffers, and many can be easily and readily converted to cash, if the State so desires.”

Amaechi challenged Wike to explain to Rivers people what he took the loans for, and to justify every kobo that has been spent from the loans.

Wike had demanded for state of finances of the state during the transition period to no avail, especially as two months salary arrears and over four months of pension lingered.

Amaechi had referred Wike to handover notes left in various ministries and departments. Wike thereafter set up a commission of inquiry to probe Amaechi. It is not clear why the former governor decided to open up at last.

 Ignatius Chukwu