Rivers Under Ibas: Over N302bn Spent in Just Six Months, SERAP Reveals

The Rivers State government has disclosed that the administration of retired naval chief, Ibok-Ete Ibas, spent more than N302 billion during his six-month tenure as the state’s sole administrator.

The revelation was made in a counter-affidavit presented at the Rivers State High Court, Port Harcourt, by the state accountant-general and the Ministry of Budget and Economic Planning. The affidavit was in response to a Freedom of Information lawsuit filed by the Socio-Economic Rights and Accountability Project (SERAP). The case, marked PHC/4153/CS/2025, is before Justice S.H. Aprioku.

According to the documents, Rivers State received over N253.48 billion from the Federation Account Allocation Committee (FAAC) between March and August 2025. Including other revenues, the total funds amounted to approximately N298.35 billion.

The records, attached as Exhibits DTI and DT2, run into 49 pages. They show that ₦28 billion was earmarked for CCTV installation at the State House, but no expenditure was recorded for the project.

The affidavit further stated that the government did not contest SERAP’s right to access information under the Freedom of Information Act, adding that all requested documents had been compiled and made available.

SERAP Reviews Spending

Kolawole Oluwadare, SERAP’s deputy director, said his organization is reviewing the documents, which detail transfers ranging from N1.8 million to N4.27 billion, as well as multiple payments including N61.9 million, N122 million, N170 million, N389 million, N750 million, N850 million, and N900 million.

The records also show that N112.41 billion was spent on salaries, pensions, and overheads, while N163.44 billion was allocated to ministries, departments, and agencies (MDAs). Of this, more than N106 billion was disbursed in August alone. About N26.01 billion went to servicing loans, and N491.59 million was spent on bank charges.

Funds were also released for capital projects, including over N2.5 billion for government house quarters, N404 million for office building repairs, N350 million for canteen and kitchen equipment, and over N463 million for rehabilitation projects. A project initially budgeted at N800 million was later increased to N1.56 billion. The closing balance as of August 2025 stood at N19.93 billion.

Background

Emergency rule was imposed on Rivers State by President Bola Tinubu on March 18, 2025, following a prolonged political crisis. Governor Siminalayi Fubara, his deputy Ngozi Odu, and the state assembly were suspended, and Ibas was appointed sole administrator. The emergency rule ended on September 17, 2025, with Fubara resuming office the next day.

The Rivers State House of Assembly had resolved to investigate the management of state finances during the emergency period, a move rejected by Ibas.

The court has adjourned the SERAP suit to May 19, 2026, for fu rther hearing.