07/05/2025
Rivers Sole Administrator Fails To Account For N400bn As Senate Panel Moves In
The management of Rivers State’s finances under Tinubu’s handpicked sole administrator, Vice Admiral Ibok-Ete Ibas (rtd.), has come under fresh scrutiny as budget accountability collapses and the Senate scrambles to assert control.
For the first time since late 2023, Rivers State has failed to release its quarterly budget performance report, a crucial document that shows how public funds are allocated and spent.
The report, usually made public within 30 days after each quarter, has not been published for the January–March 2025 period.
This breach of fiscal transparency comes barely two months after Tinubu suspended Governor Siminalayi Fubara, imposed emergency rule on the state, and appointed Ibas to oversee its affairs.
Checks reveal that Rivers State had consistently released these performance reports from the fourth quarter of 2023 through the end of 2024. With the publication gap widening, concerns are growing over how Ibas has been handling over N400 billion expected to flow into state coffers within his six-month tenure.
In 2025 alone, projections indicate Rivers will receive N279.5 billion from the Federation Accounts Allocation Committee (FAAC) over six months, alongside an estimated N132 billion in internally generated revenue (IGR), bringing the total funds under Ibas’ control to at least N411.7 billion.
Against this backdrop, the Senate on Tuesday hurriedly constituted an 18 member committee to exercise legislative oversight over Ibas’ stewardship. Senate President Godswill Akpabio, while inaugurating the panel, described its task as “critical” for safeguarding democracy and ensuring checks on the sole administrator’s activities.
Akpabio, in his remarks, charged the committee to commence work immediately, citing the urgency of the matter and affirming the Senate’s “commitment to good governance and accountability” in Rivers.
Former Rivers governor Rotimi Amaechi, in a recent interview, directly linked the political turmoil to financial squabbles. He stated, “The fight between the current governor of Rivers State and the FCT minister is about sharing money.…”
