WIKE'S REVELATIONS: UDOM IN SECRET MOVES TO DISCOUNT $664M
.......promises #56B Commission to Commercial Bank
Following the strong and massive revelation by Governor Nyesom Wike of Rivers State on the funds remitted by the Buhari led Federal Government to Akwa Ibom State as part of the State's thirteen percent derivation funds, the Akwa Ibom State Governor, Mr. Udom Emmanuel has been alleged to have approached a commercial bank, seeking to discount the sum of $664M, amounting to N248B.
Notably, the lump sum which is the accumulated outstanding shortfall of derivation from 1999 to 2018 was implemented by the Federal Ministry of Finance with a spread installmental payment of over 60 months since the country’s treasury cannot afford such a huge payout at once.
A top officer of the Bank who volunteered this information to our reporter while pleading annonymity said, the Governor has agreed to pay the Commercial Bank the sum of N56B as Commission if the deal sails through.
The action of the State's Chief Executive was received with rude shock as feelers from the State Ministry of Finance and office of the State Accountant General have all claimed ignorance of the move.
It was learnt that the Governor being a financial expert intends to discount the funds so that it will be easy for the money to be channeled into private pockets as it will make more meaning especially when the cash is set to be moved into private purses.
But an inside source in the office of the Accountant General hinted our reporters that the move by the Governor to discount the money is fraudulent, ungodly and very unskilled by a Governor noting that the rate at which funds are being siphoned under the watch and directive of the State Governor is a diservice to the economy of Akwa Ibom State, adding that if successive governments had fingered the State resources and funds like it is done under the Governor's watch, Akwa Ibom State would have been thrown into a state of financial coma.
Our source querried the State Government's decision to make such schewed moves as if the money is his personal property.
Meanwhile, the $2.56billion which is the largest chunk of the money was for both Rivers and Akwa Ibom states.
The AG office argued that discounting the funds without a thorough legislative protocol is not only barbaric, but a clear indication that the Governor is all out to bleed the finances of the state as he winds down his tenure.
Meanwhile, a former Commissioner for Economic development in the State has described the allege move by the Governor as being insensitive, economically abusive and an indication that the Governor is taking the State for a ride as according to him, no macro or micro economy in the World supports or promotes such financial rascality.
The Ex Commissioner argued also that Governor Emmanuel should rather use the percentage he intends to pay to the commercial bank to pay off gratuities and complete ongoing projects as the move to discount the money is nothing but an abuse of office and finacial impropriety unheard of in a modern day economy that will only make one man richer than the entire state.
He described further the action of the Governor as a very sadistic approach to governance.
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