A recent forensic audit has shed light on the financial mismanagement of the previous Abia State government.
The audit, conducted by a reputable firm, discovered that funds were approved for the construction of an airport and other infrastructure that simply do not exist.
The initial report was corrected to clarify that seven contractors received N9.3bn, not N79.3bn. Furthermore, the total amount paid to all 72 contractors was adjusted to N37.2bn, not N107.2bn.
This shocking revelation was made by the current Governor of Abia State, Dr Alex Otti, during a presentation at the Johns Hopkins University School of Advanced International Studies in Washington DC, USA. His talk focused on the complexities of state governance, economic transition, and the challenges of establishing a new order amidst numerous constraints and resistance.
Dr Otti expressed his dismay at the corruption that motivates some Nigerian leaders to run for office. He took over from Okezie Ikpeazu in 2023 and has since observed how some politicians misuse their positions of power, leading to state impoverishment.
To uncover these corrupt practices, Dr Otti commissioned one of the world’s top three audit firms to scrutinize the state’s accounts. The audit revealed numerous corrupt deals.
Dr Otti shared some alarming findings from the audit report. “N9.3bn was paid to seven contractors for contracts that were never fulfilled. An additional N15.9bn was paid to 63 contractors without any supporting documentation. Another N12bn was paid to two contractors for non-existent contracts. Of this amount, N10bn was paid on September 25, 2020, nearly four years ago, to contractors for the construction of the Abia State Airport. Despite our efforts, we have been unable to locate this airport,” he said.
Dr Otti also mentioned that he has enlisted the help of security agencies and even considered using Artificial Intelligence to locate the elusive airport.
He explained that the N37.2bn spent on phantom projects is a consequence of politicians failing to understand the responsibilities of governance and economic integration. He believes that a lack of accountability allows for the reckless theft of resources, which impoverishes the populace, promotes incompetence, and erodes trust in public institutions.
Dr Otti lamented the financial struggles of Nigerian states, evidenced by their struggle to pay salaries and pensions. Earlier in April 2024, he revealed that his predecessor, Ikpeazu, had left the state with a debt of N192bn. This was in addition to the N34.5bn debt inherited from T.A. Orji.
