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Data obtained from the National Bureau of Statistics, shows that Rivers state under vice Admiral Ibas Ete, received in 6 Months, between March and August 2025, an astonishing 254.36 Billion of Federal Allocation.
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‎A breakdown of the figures are as follows:
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‎March: N44.66 billion, April: N44.42 billion, May: N42.80 billion, June: N42.30 billion, July: N38.42 billion, August: N41.76 billion .
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‎Within this same period, the state received an estimated IGR of 27Billion per month, a sum total of 162 Billion Naira when multiplied by 6 months .
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‎If you add both figures , it amounts to a staggering 416.36 Billion in Revenue in just 6 months.
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‎Within this period , available evidences shows that ,Contracts were awarded, Arbitrary withdrawals were made from Rivers state coffers, funds were disbursed by Ibas , and all done in utmost secrecy, hidden from public view , and yet no visible project was seen in any part of the state, by the people of Rivers state.
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‎ It is most worrisome that our civil servants participated in this rape of the state Treasury. No wonder they shamelessly gathered to award Ibas ” the most friendly to civil servants “. An award to a man who owed civil servants . You can see how morally bankrupt some of us are .
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‎But , most concerning to me , was the purchase and receipt of brand new 2025 Land cruiser jeeps for each member of the Rivers state house of Assembly. This purchase was not captured in the Rivers state budget which Ibas submitted to the National Assembly.
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‎This is to show you how funds were too available and accessible to the corrupt sole administrator and the moral lowest of low exhibited by the suspended assembly members to accept gifts of such magnitude under emergency rule.
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‎Each of the land cruiser Prado jeeps received by the Rivers Assembly members is priced at a minimum of 150Million a piece . Multiplied by 27 members is in excess of 4 billion Naira. Ibas effectively bought their silence .
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‎He played a deft chess masterclass on them , and shut them up . Little wonder he had the audacity to dismissed their call for probe as a f00ls errand. He believes rightly so , that they have been adequately compensated and so has no moral latitude to ask questions.
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‎This is not something to be swept under the carpet and I thank people like Barr Deji Adeyanju who has taken it upon himself to petition ICPC to demand accountability. Rivers funds cannot just develop wings in a state where many cannot afford decent meals. And all we can do is demand that the right thing be done.
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