Imo: Ihedioha's panel discovers N112.8bn allegedly stolen by banks under Okorocha

Imo: Ihedioha's panel discovers N112.8bn allegedly stolen by banks under Okorocha

- More dubious activities that allegedly took place under Rochas Okorocha of Imo have been discovered

- The fraudulent activities were revealed by a committee set up by a former governor of the state, Emeka Ihedioha

- The alleged crimes have to do with the sum of N112.8 yet to be refunded to the state government by nine banks

An investigative committee set up by a former governor of Imo, Emeka Ihedioha, has uncovered how some financial institutions in the state embezzled the total sum of N112.8 billion during the administration of Rochas Okorocha.

In a letter to Governor Hope Uzodinma, the head of the committee, Abraham Nwankwo, said that the infraction has to do with fraudulent debts owed the states by about nine banks and the penalties attached to them.

In his report, Nwankwo said that the banks are to refund the state the sum as the principal amount from the said infractions and penalties.

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The letter partly read: “Based on the joint report of the consortium of consultants, the nine banks that came under review were to refund the sum of N74,602,631,560.46 to the state as the principal amount involved in such infractions and attendant penalties.

“In addition, the sum of N38,221,701,806.96 was to be claimed covering the principal sum and attendant penalties arising from the aggregation of debit entries to the state accounts without proper narrations and for which no explanation was provided to the committee despite repeated demands.”

The chairman of the committee said that the banks have failed to meet the 30-day ultimatum given to them by the state to respond to the demand for the refund.

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The committee, therefore, called on the governor to set up a means of ensuring the refund of the money.

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Meanwhile, reported that Ihedioha was not willing to back down after he was removed from his office by a Supreme court ruling.

After filing an application that the apex court should set aside its verdict that installed Hope Uzodinma as the new governor of the state, Ihedioha on Wednesday, February 5, said that he had hired a team over 30 lawyers for the imminent re-awakening of a legal battle.

Confirming the development, a former Attorney-General of the state, Ndukwe Nnawuchi, said that the team has studied the judgment of the court and had told Ihedioha what to do based on their professional consideration. ( -> Same great journalism, upgraded for better service!

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