March 29, 2026 | SUNTV Global Channel
Fresh revelations from court documents have uncovered how over ₦302 billion was spent by the Ibok-Ete Ibas administration within just six months of emergency rule in Rivers State.
The disclosures emerged in an ongoing case before Justice S.H. Aprioku at the Rivers State High Court, following a Freedom of Information suit filed by the Socio-Economic Rights and Accountability Project.
According to a counter-affidavit submitted by the Rivers State Accountant-General and the Ministry of Budget and Economic Planning, the state received over ₦253.48 billion from the Federation Account Allocation Committee (FAAC) between March and August 2025, alongside additional inflows of about ₦44.87 billion—bringing total receipts to approximately ₦298.35 billion.
However, financial records presented as evidence show that total spending exceeded ₦302.35 billion within the same period.
SERAP’s Deputy Director, Kolawole Oluwadare, confirmed that the organization is currently reviewing the extensive financial documents to determine whether full compliance with its information request has been achieved.
Preliminary analysis of the records reveals:
- Over ₦112.4 billion spent on salaries, pensions, and overheads
- ₦163.44 billion allocated to Ministries, Departments, and Agencies (MDAs), with more than ₦106 billion disbursed in August alone
- ₦26.5 billion used for loan servicing and bank charges
- Repeated transfers to Government House ranging from millions to as high as ₦4.27 billion
Notably, several high-value transactions were flagged, including multiple ₦900 million payments and a single ₦4.27 billion transfer recorded in August.
The documents also show discrepancies in project funding. While ₦2.5 billion was approved for Government House quarters, only about ₦1.1 billion appears to have been spent. Similarly, ₦2.67 billion was budgeted for office repairs, but just ₦404 million was reflected in actual expenditure.
In another instance, ₦28 billion earmarked for CCTV installation at the State House reportedly saw no expenditure.
Despite the concerns, the state government maintains that it has complied with the Freedom of Information Act by releasing all requested documents, noting that any delay did not result in harm to SERAP.
The case, which seeks to enforce transparency and accountability under Nigerian law, has been adjourned to May 19, 2026, for further hearing.
SUNTV Global Channel will continue to monitor developments and bring you verified updates on this unfolding story.
