The Socio-Economic Rights and Accountability Project (SERAP) has called for greater transparency over the alleged spending of more than N302 billion by Ibok-Ete Ibas during his six-month tenure as Sole Administrator of Rivers State.
The organisation disclosed that the State Accountant-General and the Ministry of Budget and Economic Planning informed the High Court in Port Harcourt that the funds were drawn from allocations by the Federation Account Allocation Committee (FAAC) and other sources between March and August 2025.
According to a counter-affidavit filed in response to SERAP’s Freedom of Information suit, Rivers State received over N253 billion from FAAC within the period, alongside additional receipts exceeding N44.8 billion, bringing total inflows to about N298.35 billion.
Documents submitted as evidence, including bank statements and capital expenditure records, reportedly indicate total spending of over N302.35 billion, with transactions covering transfers to government entities, payments to individuals, and repeated disbursements to Government House accounts.
SERAP said it is currently reviewing the documents project-by-project to determine compliance with its information request, noting that further legal steps may follow if gaps are identified in the disclosures.