The Abia government has denied reports that the immediate past administration led by Okezie Ikpeazu left N24 billion in the state’s accounts, branding such reports as false.
The state government said Ikpeazu’s administration left a debt of N191 billion for Governor Alex Otti to grapple with.
Mike Akpara, the Special Adviser to Governor Alex Otti on Finance, made the revelation in a statement released in Umuahia, the state capital.
Akpara disclosed that the $200 million and $50 million Ikpeazu’s government claimed it left for the new administration were loans they were pursuing, which had yet to crystalise.
Akpara said that the Ikpeazu administration also left physical liabilities in all critical government institutions, including the Abia State University Teaching Hospital, Abia Polytechnic, Aba, among others.
The Finance Adviser further disclosed that the summary of Abia State Government balances with different banks as of May 2023 included; loan balances to UBA (8,012,830,371.44), Zenith Bank (21,557,168,761.71), Union Bank (597,637,399.55)And Central Bank (47,760,302,510.12), making a total balance of (77,927,939,042.82) for loan balance.
Domestic debts were as follows; salaries and subventions arrears (18,162,102,692.92), pension arrears (21,283,876,789.80), gratuity arrears (27,012,996,061.64) and contractors arrears (4,563,186,896.65), leaving total domestic debt arrears at 71,022,162,441.01.
He also made public that the external debts of the state are 42,289,206,109.84, making the total of debt left for the present administration N191,239,307,593.67.
He further alleged that the former governor might be moving to join the All Progressive Congress, APC, to enjoy cover from justice.
