Rivers Govt Reveals How ₦302bn Was Spent Under Ibas in 6 Months

Rivers State Government has opened up on how more than ₦302 billion was spent during the six-month administration of former sole administrator, Vice Admiral Ibok-Ete Ibas (retd).

The details were presented before a High Court sitting in Port Harcourt, shedding light on financial activities carried out between March and August 2025.

The disclosure came as part of a legal battle initiated by the Socio-Economic Rights and Accountability Project (SERAP), which is pushing for full transparency over the finances of the state during the emergency rule period. The case, marked PHC/4153/CS/2025, is being heard by Justice S.H. Aprioku.

In documents filed before the court, the Rivers State Accountant-General and the Ministry of Budget and Economic Planning stated that “the FAAC allocations received by Rivers state between March and August 2025 was over ₦253 billion [₦253,480,052,907.33]”.

The agencies also attached financial records, including bank statements and budget documents, to support their claims.

According to the filings, the state received additional inflows of about ₦44.87 billion within the same period, bringing the total funds available to nearly ₦298.35 billion. However, total spending exceeded this figure, reaching over ₦302.35 billion.

The documents revealed a breakdown of expenditures across several sectors. A significant portion, over ₦112.41 billion, went into salaries, pensions, and general overhead costs.

Another ₦163.44 billion was allocated to ministries, departments, and agencies, with more than ₦106 billion disbursed in August alone, indicating a heavy concentration of spending within that month.

Further analysis showed that over ₦26 billion was used to service existing loans, while bank charges accounted for about ₦491 million. The records also detailed multiple transfers to the Government House, ranging from small payments in millions to large transactions running into billions. One of the highest single transfers recorded stood at ₦4.27 billion in August.

The government, however, clarified that “₦28 billion was approved for the installation of Closed Circuit Television (CCTV) at the State House but no expenditure was incurred in respect of the project. Therefore, no document evidencing such expenditure can be provided.”

It added that it does not intend to deny access to public information, stating that “the Defendants/Respondents do not contest SERAP’s right to access information under the Freedom of Information Act and has no intention whatsoever of withholding the requested documents.”

The government maintained that it has now complied by providing the requested records in court.

Reacting to the development, SERAP deputy director Kolawole Oluwadare said the organisation is carefully reviewing the documents submitted. “We are studying the large documents on the spending of the over ₦302 billion [₦302,352,458,523.07] of FAAC allocations and other funds by the Rivers State government between March and August 2025,” he said.

He added that the group is conducting a detailed, project-by-project analysis to determine whether the information provided meets its request or if further legal steps would be required.

SERAP’s initial review pointed to repeated transfers to Government House, including payments of ₦61.9 million, ₦122 million, ₦170 million, ₦389 million, ₦750 million, ₦850 million, and multiple ₦900 million transactions during the period under review.

Other expenditures highlighted include funds released for construction and rehabilitation projects. Over ₦2.5 billion was approved for Government House quarters, although only about ₦1.1 billion appears to have been spent. Similarly, a revised ₦2.67 billion was allocated for office repairs, with about ₦404 million reflected as actual expenditure.

The documents also showed allocations for canteen and kitchen equipment estimated at ₦350 million, though details of actual disbursement remain unclear. Rehabilitation works accounted for over ₦463 million, while one project initially budgeted at ₦800 million was later increased to ₦1.56 billion.

At the end of August 2025, the state’s account reportedly had a closing balance of about ₦19.93 billion.

The lawsuit is seeking a legal interpretation of whether SERAP is entitled to access the requested financial records under relevant constitutional provisions and the Freedom of Information Act.

The matter has been adjourned to May 19, 2026, for further hearing.