By Gbenga Oresanya,
Yes, reports based on official data indicate that the Rivers State Sole Administrator, Vice Admiral Ibok-Ete Ekwe Ibas (retd), received a total allocation of N401.9 billion from the Federation Accounts Allocation Committee (FAAC) during his six-month tenure.
Overview of the Allocation
A review of data from the Office of the Accountant General of the Federation and the National Bureau of Statistics (NBS) shows that Rivers State received N401.9 billion in FAAC allocations while under the administration of Vice Admiral Ibok-Ete Ekwe Ibas.
Vice Admiral Ibok-Ete Ekwe Ibas served as the Sole Administrator of Rivers State from March 18, 2025, to September 18, 2025, following a declaration of a state of emergency.
Total Allocation: The N401.9 billion sum covers the total FAAC allocations for both the state and local governments during this six-month period, including previously withheld funds.
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Breakdown of Funds
The total amount includes monthly allocations from March to August 2025, as well as a separate release of withheld local government funds:
Monthly FAAC Allocations (March to August 2025): The state and local government areas received various monthly disbursements from the Federation Account.
March: State – N44.6 billion; LGAs – N18.5 billion.
April: State – N44.4 billion; LGAs – N19.4 billion.
May: State – N42.7 billion; LGAs – N16.0 billion.
June: State – N42.3 billion; LGAs – N18.8 billion.
July: State – N39.0 billion; LGAs – N18.8 billion.
August: State – N41.6 billion; LGAs – N19.2 billion.
Withheld Local Government Funds: When Ibas assumed office, the government released an additional N36.6 billion in local government allocations for January and February 2025, which had been previously withheld from the state’s reinstated governor, Siminalayi Fubara.
Calls for Probe
The significant amount of public funds received during the administrator’s six-month tenure led to calls for a financial probe into his expenditure from opposition parties and organizations, including the Rivers State House of Assembly.
Administrator’s Position: Ibas, through his Senior Special Adviser on Media, reportedly resisted the probe by the state assembly, stating that the lawmakers lacked the power to investigate him since they did not appoint him. He asserted that the administration was supervised by the National Assembly.
Accountability Concerns: Critics have pointed to an alleged “financial accountability blackout,” noting the administration’s reported failure to publish quarterly budget performance documents. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has confirmed receiving a petition demanding an investigation into the financial activities of the former Sole Administrator.
