By John Audu
The financial management of Rivers State, now under the control of Vice Admiral Ibok-Ete Ibas (rtd.), President Tinubu’s appointed sole administrator, is facing intense scrutiny as crucial budget accountability falters.
A key indicator of this breakdown is the state’s failure to publish its quarterly budget performance report for the January-March 2025 period. This report, vital for tracking public spending, has been consistently released since late 2023, until Ibas’s appointment.
This lapse in transparency comes just two months after Tinubu’s controversial move to suspend Governor Siminalayi Fubara and impose a state of emergency, placing Ibas in charge. Concerns are mounting over the handling of over N400 billion in public funds expected to flow into the state’s coffers during Ibas’s six-month tenure.
Projected figures show Rivers State receiving N279.5 billion from the Federation Accounts Allocation Committee (FAAC) and an estimated N132 billion in internally generated revenue (IGR) in 2025 alone.
In response, the Senate has swiftly formed an 18-member committee to oversee Ibas’s administration. Senate President Godswill Akpabio emphasized the committee’s “critical” role in safeguarding democracy and ensuring accountability. The committee, chaired by Senate Leader Opeyemi Bamidele, includes prominent senators such as Adams Oshiomhole and Sani Musa.
“We are committed to good governance and accountability in Rivers State,” Akpabio stated, urging the committee to begin its work immediately.
However, critics argue that the Senate’s intervention may be insufficient to address deeper issues. Allegations of financial irregularities and undue influence under Ibas have fueled public distrust.
Former Rivers State Governor Rotimi Amaechi has directly attributed the political turmoil to financial disputes. “The fight between the current governor of Rivers State and the FCT minister is about sharing money,” Amaechi stated. “Nigerians don’t dislike corruption anymore.”
As Ibas’s administration faces accusations of opaque financial dealings, the Senate’s oversight is viewed by many as a potentially compromised and belated attempt to restore accountability, raising further questions about Abuja’s control over the state.
