How Ikpeazu Paid ₦107.2 Billion For Non-existent Projects In Abia State – Alex Otti

Governor Alex Otti has exposed how Ikpeazu paid ₦107.2 billion for non-existent projects in Abia State.

 

NewsOnline Nigeria reports that the Abia State Governor, Alex Otti, has alleged that his predecessor, Okezie Ikpeazu, paid billions of Naira for non-existent projects in the state.

 

This Nigeria news platform understands that Governor Otti made this known while addressing Abia Indigenes at an event in the United States to encourage investment in the South-East state.

 

Otti revealed that upon taking office last year as Governor of the state, he invited one of the top audit firms in the world to conduct a forensic audit.

 

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He said the audit firms recently turned in their reports, which show that Ikpeazu allegedly paid ₦107.2 billion for some non-existent projects, including the airport.

 

Otti further revealed that the billions paid for the non-existent airport were used to clear off pension and salary arrears owed for 10 years.

Ikpeazu’s Govt Left Behind N192.2 Billion Debt

 

Meanwhile, Alex Otti, during a recent conversation with reporters, revealed that his administration was burdened with a staggering debt of N192.2bn left behind by his predecessor, Okezie Ikpeazu.

 

According to him, Ikpeazu had inherited a debt of N34.5 billion from his predecessor.

 

Otti acknowledged that although some of the debts have been settled, there are still outstanding amounts with exorbitant interest rates.

 

Despite the challenges, Otti emphasized the importance of prudent financial management and expressed confidence in their ability to navigate through these difficulties.