Abia: EFCC Initiates Investigation Into Ex-Gov Ikpeazu’s Tenure

• EFCC initiates investigation into former Abia State Governor Okezie Ikpeazu’s tenure

• Probe follows findings from forensic audit commissioned by current Governor Alex Otti

• Investigation covers allegations of fund misappropriation, procurement law violations, and diversion of funds for non-existent projects

EKO HOT BLOG reports the Economic and Financial Crimes Commission (EFCC) has initiated an investigation into the tenure of former Abia State Governor, Okezie Ikpeazu.

This probe comes in the wake of findings uncovered by forensic auditors commissioned by the current Governor of Abia State, Dr. Alex Otti. Sources within the anti-graft agency informed The Whistler that a comprehensive inquiry into the activities of the Ikpeazu administration has been launched.

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The source said that the probe would cover broad areas such as allegation of misappropriation of funds, violation of the public procurement laws of Abia State, the diversion of the ₦10bn which the governor raised from UBA that was paid to Ferotex Construction company for the execution of “non-existent” airport project among others.

Another source said that the commission has received copies of the forensic audit report prepared by KPMG Advisory Services that indicted the governor of financial recklessness during his eight years in office.

Ikpeazu’s Tenure

The report was submitted by the administration of Alex Otti to the EFCC.

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The Commission upon receipt of the report commended the governor, stating that this is the first of its kind in the country.

Analysis of the forensic audit report has unraveled how the ex-governor and state officials circumvented the Public Procurement Law of Abia State in the award of various contracts running into billions of naira.

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