Fresh disclosures before the Rivers State High Court have revealed how over ₦302 billion was allegedly spent by the administration of former Rivers sole administrator, Vice Admiral Ibok-Ete Ibas (Rtd), within six months.
The revelations emerged in a Freedom of Information suit filed by the Socio-Economic Rights and Accountability Project, which is seeking transparency over funds managed during the emergency rule period between March and August 2025.
The case, marked PHC/4153/CS/2025, is before Justice S.H. Aprioku.
In a counter-affidavit dated March 10, 2026, the Rivers State Accountant-General and the Ministry of Budget and Economic Planning disclosed that the state received over ₦253 billion from the Federation Account Allocation Committee (FAAC) within the period.
“The FAAC allocations received by Rivers State between March and August 2025 was over ₦253 billion (₦253,480,052,907.33),” the affidavit stated.
Supporting documents—Exhibit DTI (bank statements) and Exhibit DT2 (capital estimates)—show that total inflows, including other receipts, stood at about ₦298.35 billion, while total spending exceeded ₦302.35 billion.
The affidavit also addressed specific project allocations, noting that funds approved for certain projects were not utilised.
“Our records show that ₦28 billion was approved for the installation of Closed Circuit Television (CCTV) at the State House but no expenditure was incurred in respect of the project. Therefore, no document evidencing such expenditure can be provided,” it read.
The state government insisted it had complied with SERAP’s request for information.
“The Defendants/Respondents do not contest SERAP’s right to access information under the Freedom of Information Act and has no intention whatsoever of withholding the requested documents,” the affidavit added.
“By furnishing the documents requested, the Defendants/Respondents have substantially complied with SERAP’s demand.”
It further argued that any delay in releasing the information caused no harm.
“While the Defendants/Respondents recognize the public interest in transparency and accountability, the delay in providing the requested information did not occasion any specific or proven injury to SERAP.”
Reacting, SERAP Deputy Director, Kolawole Oluwadare, said the organisation is reviewing the extensive financial records.
“We are studying the large documents on the spending of the over ₦302 billion (₦302,352,458,523.07) of FAAC allocations and other funds by the Rivers State government between March and August 2025,” he said.
“Our teams are analysing the spending project-by-project and we will decide whether our requests for information have been fully complied with or whether a fresh request for information or an amendment to our originating processes is necessary.”
According to SERAP’s preliminary findings, the documents reveal extensive financial activity, including repeated high-value transfers to Government House and significant spending concentrated within a single month.
“The two exhibits also show transfers to government entities, payments to individuals (NIP transfers), and repeated transfers to Government House during the period from March to August 2025. In total, over ₦302.35 billion was shown to have been spent during this period,” Oluwadare stated.
He further detailed patterns in the transactions.
“The exhibits reveal multiple payments to Government House ranging from ₦1.8 million to ₦4.27 billion, including transactions of ₦61.9 million, ₦122 million, ₦170 million, ₦389 million, ₦750 million, ₦850 million, and ₦900 million—with the ₦900 million payments occurring repeatedly. Notably, a single transfer of ₦4.27 billion was recorded in August.”
Breakdowns of expenditures also showed that over ₦112.41 billion was spent on salaries, pensions, and overheads, while ₦163.44 billion was allocated to ministries, departments, and agencies.
“Over ₦106 billion of the ₦163.44 billion allocated to MDAs was disbursed in August alone, showing a significant concentration of spending within a single month,” he added.
Other expenditures included over ₦26 billion for loan servicing and about ₦491 million on bank charges.
The documents also raised questions about project funding and execution.
“Over ₦2.5 billion was released for the construction of Government House quarters, but only about ₦1.1 billion is reflected… A project initially budgeted at ₦800 million appeared to be increased to ₦1.56 billion,” Oluwadare noted.
SERAP is asking the court to determine whether it is entitled to full access to the financial records under the Constitution and the Freedom of Information Act.
The matter, filed on October 31, 2025, has been adjourned to May 19, 2026, for further hearing.
