Fubara Confirms Ibas Departed with Over N600 Billion from Rivers Treasury

Table of Contents

1. Introduction
2. Confirmation of State Funds
3. Obodhi–Ozochi Road Project
4. Political Crisis Background
5. Accusations and Responses
6. Future Plans

Governor of Rivers State, Siminalayi Fubara, has confirmed that he found over N600 billion in the state treasury upon his return from a six-month suspension.

This aligns with an earlier statement made by the Speaker of the State House of Assembly, Martin Amaewhule, who noted that the former Sole Administrator, retired Vice Admiral Ibok-Ette Ibas, left more than N600 billion in the state account at the conclusion of the emergency rule.

Governor Fubara shared this information on Wednesday while inaugurating the 14.2-kilometre Obodhi–Ozochi road and bridge project in Ahoada East.

He also mentioned that he had left over N300 billion in the state account prior to his suspension.

Governor Fubara promised that within the next six months, he will provide Rivers residents with a detailed account of how their funds are utilized.

Fubara stated, “Today, I want to inform the world that when we departed during the emergency rule, our records are available. We left over N300 billion, and upon our return, we discovered approximately N600 billion.

“Every cent we are expending is documented, and evidence will be presented in the next six months.

“Therefore, there are no concerns regarding how we are managing our finances or the funds we inherited. At the very least, no one can question my integrity. I am not involved in any fraudulent activities.

“If there’s one thing I can confidently assert, and I take pride in, it is that no one can link me to anything improper.”

He assured the community that state resources are being managed judiciously.

“Your funds and the records of their expenditures are secure. We are undertaking significant projects.

“Perhaps the reason some individuals suspect that something is amiss is that we do not believe in launching projects unless absolutely necessary.

“We prefer to commission them. We want to avoid spending money on both launching projects and commissioning them.

“Thus, we save you the costs associated with launching and entertaining when we are ready to present what we have accomplished with your funds. You can call me anytime; the record is available.”

The governor explained that the Obodhi–Ozochi road project was initiated by the previous administration following a request from Edison Ehie and promised to extend the road.

Recall that on March 18, 2025, Fubara, along with his deputy Professor Ngozi Nma Odu and all members of the State Assembly, were suspended for six months by President Bola Tinubu due to a prolonged political crisis in the state.

In November, during what seemed to be a renewed conflict between Fubara and the Assembly members, Speaker Martin Amaewhule accused the Governor of neglecting to utilize the funds left by Ibas to improve the poor condition of government-owned schools in the state and for failing to implement new employment opportunities.

Additionally, last week, Amaewhule accused Fubara of spending without the necessary appropriation or approval from the State Assembly.

He further alleged that the Governor is awarding contracts to his associates, “particularly those involved in the arson of the State Assembly Complex.”

In response, Fubara assured that education will receive a significant portion of the 2026 budget.

He also stated that the state government will hire staff based on the state's requirements, rather than for political motivations.