A Freedom of Information (FoI) request by the Socio-Economic Rights and Accountability Project (SERAP) has shed light on how over ₦302 billion was reportedly spent by the Rivers State Government during the six-month tenure of former Sole Administrator, Vice Admiral Ibok-Ete Ibas (retd), between March and August 2025.
The financial disclosures were presented before the Rivers State High Court in Port Harcourt by the state’s Accountant-General and the Ministry of Budget and Economic Planning, following a lawsuit filed by SERAP seeking transparency over expenditures during the emergency administration period.
According to a counter-affidavit dated March 10, 2026, Rivers State received more than ₦253.48 billion from the Federation Account Allocation Committee (FAAC) within the period under review. Supporting documents, including bank statements and capital expenditure records submitted as exhibits, indicate that total inflows—including other receipts—stood at approximately ₦298.35 billion.
However, the records also show that total spending slightly exceeded this figure, reaching over ₦302.35 billion.
The affidavit noted that ₦28 billion was approved for the installation of CCTV at the State House, though no funds were eventually spent on the project.
Further breakdown of the expenditures revealed that over ₦112.4 billion was used for salaries, pensions, and overhead costs, while about ₦163.44 billion was disbursed to ministries, departments, and agencies (MDAs). Notably, more than ₦106 billion of these allocations were made in August alone, indicating a heavy concentration of spending within a single month.
The documents also highlighted multiple transfers to Government House, ranging from ₦1.8 million to as high as ₦4.27 billion. Several transactions—such as ₦61.9 million, ₦122 million, ₦170 million, ₦389 million, ₦750 million, ₦850 million, and repeated ₦900 million payments—were recorded during the period.
Additionally, over ₦26 billion was spent on loan servicing, alongside about ₦491.6 million incurred as bank charges.
Capital projects also featured in the report. While over ₦2.5 billion was earmarked for the construction of Government House quarters, only about ₦1.1 billion was reflected as actual expenditure. Similarly, ₦2.67 billion was budgeted for office building repairs, but only about ₦404 million was reportedly spent.
Other allocations included ₦350 million for canteen and kitchen equipment—though the exact disbursement remains unclear—and over ₦463 million for rehabilitation projects. One project initially budgeted at ₦800 million was later revised upward to ₦1.56 billion.
The closing balance in the state account as of August 2025 stood at approximately ₦19.93 billion.
Reacting to the disclosures, SERAP’s Deputy Director, Kolawole Oluwadare, said the organisation is currently reviewing the extensive financial records to determine whether full compliance with its information request has been achieved or if further legal steps are necessary.
The suit, filed in October 2025, seeks a court ruling affirming SERAP’s right to access public financial records under the Nigerian Constitution and the Freedom of Information Act. The matter is pending before Justice S.H. Aprioku and has been adjourned until May 19, 2026, for further hearing.
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