That cash in the bank is different from other near-cash assets, such as a 3.5% share in Aba IPP project of Geometric, now valued at N80 billion, among others. Note that N3.48bn will pay two months’ workers’ salary in Abia State. Meanwhile, Governor Alex Otti said he had a “forensic audit report done by one of the top 3 audit firms in the world ” in hand, whereas KPMG only executed a financial process review. Given that one should at least expect a former MD of defunct Diamond Bank to know the difference between process review report and forensic audit report, I can only say he lied deliberately to mislead as usual......See Full Story>>.....See Full Story>>
How many of the Otti cheering crowd know the difference between an audit and a process review? Kindly come here and share if you do?. However, if you don’t know, Google is there to rescue you.
How much did Governor Alex Otti pay KPMG? Abians deserve to know because we are already paying a state-owned audit unit that would have done a far better job.
So far, Otti’s government has spent N9billion on a sub head called “research & development”. What is he researching and developing in Abia State? Check quarterly financial reports published by his administration, if in doubt.
Based on antecedent, never trust anything said by Governor Otti. He lies and misrepresents facts too frequently to be taken serious.
Did you notice that after I responded to his allegation of missing N10b with details of road contractors paid from the money, he said, “The money was moved into 32 different accounts” instead of the money being paid into 32 road contractors’ accounts?
God save Abia!!
Meanwhile, I thank whoever forced Governor Otti to leak that report. At face value, the report exonerates Dr. Ikpeazu of any wrongdoing and highlights the leadership shortcomings of Alex Otti.
A Governor does not award contracts in Abia State and a Governor does not sign Cheques. It is the Finance & General Purpose Committee (F & GPC) that reviews tenders, recommend companies for award of contract and pass same to State Exco for approval. Similarly, only the top officials of ministry of finance sign State Government Cheques and at the level of ministries it is the Permanent Secretary and Director of Finance.
As a commissioner in Abia State for 6 years I never signed any government or ministry cheque because it is not within my remit.
Where then is the evidence of Dr Ikpeazu stealing N10bn meant for Abia Airport?
Stay tuned for more….