Otti exposes how Ikpeazu diverted N10bn Abia Airport project into 32 separate company accounts


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Abia State Governor, Dr. Alex Otti, recently disclosed details regarding the misappropriation of N10 billion designated for the Abia airport project.

The funds, originally intended for the airport’s development, were diverted into 32 separate company accounts during the tenure of former Governor Okezie Ikpeazu. The forensic audit report conducted by KPMG highlighted this financial irregularity, prompting Governor Otti to announce the forthcoming public release of the incriminating findings.

During his monthly media chat, titled “Governor Alex Otti Speaks to Abians,” held at the Government House in Umuahia, Otti elaborated on the audit report’s revelations. He revealed that the previous administration had transferred the N10 billion loan acquired from a commercial bank for the airport project into various company accounts before dispersing the funds. Shockingly, the money had already been moved out of the state government’s account prior to seeking approval from the Abia State House of Assembly.

Governor Otti emphasized that the denials from former government officials were anticipated, noting their claim of utilizing the funds for road construction contrary to the available evidence. He highlighted the admission by FEROTEX Construction Company, the entity associated with the airport loan, stating that they never sought nor were awarded the airport project under Governor Ikpeazu’s administration.

Furthermore, Otti underscored the timeline discrepancies, pointing out that the approval request for the N10 billion construction funds was swiftly granted by the House of Assembly, raising suspicions of irregularities. He emphasized the need for accountability and restitution, rather than punitive measures, expressing his focus on recovering the misappropriated funds.

Governor Otti reiterated his commitment to transparency and accountability, assuring the public that the forensic audit report would be made available soon. He emphasized the role of security agencies in further investigations while emphasizing the paramount importance of recovering the diverted funds or witnessing tangible progress on the airport project.


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