The Rivers State Accountant-General and the Ministry of Budget disclosed that over ₦302 billion was allegedly spent during a six-month period in 2025.
This timeframe covers the tenure of former Sole Administrator, Vice Admiral Ibok-Ete Ibas (rtd). Specifically, the funds were disbursed between March and August 2025.
These disclosures were made at the High Court in Port Harcourt following an FOI lawsuit. The suit was filed by the Socio-Economic Rights and Accountability Project (SERAP).
Hon. Justice S.H. Aprioku is currently presiding over the case. Consequently, state officials submitted a counter-affidavit and 49 pages of financial exhibits.
Ibok-Ete Ibas previously served as the Chief of Naval Staff before his appointment as Sole Administrator. His tenure followed a period of political tension in the state.
“The FAAC allocations received by Rivers State between March and August 2025 was over ₦253 billion,” the counter-affidavit revealed.
The document also included Exhibit DTI and Exhibit DT2. These exhibits contain bank statements and Government House estimates.
Rivers Reveals Massive FAAC Allocations Under Ibas
“The defendants have now compiled and made available the requested information in accordance with the provisions of the Freedom of Information Act,” officials stated.
“By furnishing the documents requested, the defendants/respondents have substantially complied with SERAP’s demand,” the court filing added.
However, SERAP deputy director Kolawole Oluwadare revealed on Sunday that his team is currently analyzing the large volume of documents.
“Our teams are analysing the spending project-by-project and we will decide whether our requests have been fully complied with,” Oluwadare explained.
Preliminary findings indicate that total receipts reached approximately ₦298.35 billion. Furthermore, transfers to Government House occurred repeatedly.
Vanguard News reports that these transactions included multiple payments ranging from ₦1.8 million to ₦4.27 billion.
“The exhibits reveal multiple payments to Government House with ₦900 million payments occurring repeatedly,” the SERAP deputy director alleged.
“Notably, a single transfer of ₦4.27 billion was recorded in August,” he continued. This month showed a significant concentration of state spending.
SERAP Analyzes Project Spending and Government Transfers
Records show that ₦112.41 billion was used for salaries, pensions, and overheads. Meanwhile, ministries and agencies received ₦163.44 billion.
“Over ₦106 billion of the ₦163.44 billion allocated to MDAs was disbursed in August alone,” Oluwadare alleged during the analysis.
Debt servicing also consumed a significant portion of the budget. Specifically, the state spent over ₦26 billion to handle various loan obligations.
“Over ₦2.5 billion was released for the construction of Government House quarters, but only about ₦1.1 billion is reflected as actual spending,” he added.
Furthermore, the ₦28 billion CCTV project was approved but never executed. This discrepancy is one of many currently under review by legal teams.
“Our records show that ₦28 billion was approved for the installation of CCTV but no expenditure was incurred in respect of the project,” the state confirmed.
Other projects included office building repairs and canteen equipment. However, the actual release of funds for these items remains unclear in the records.
Justice Aprioku has adjourned the lawsuit to May 19, 2026. This will allow for further hearing on the transparency of the emergency rule period.
“The closing balance in the account as at August 2025 was ₦19,929,707,462.66,” the report concluded.
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