A pro-Peoples Democratic Party group called PDP Advocates for Peace And Justice PAPAJ has asked the Akwa Ibom State government to publish a full record of the state’s finances.
This call follows a statement from the state commissioner for Finance Mr Emem Bob that Governor Umo Eno’s administration has paid off a commercial bank loan of N39.831 billion inherited from the previous governor Mr Udom Emmanuel. The commissioner did not name the banks involved and said the loan was cleared so the state would no longer carry that debt.
Dr Tom FredFish the chairman of PAPAJ said the public must see the documents behind that claim. He asked the state to release audited accounts loan contracts records of inherited assets and other papers so citizens can get a clear and correct picture of the state finances.
He said, “While we acknowledge the importance of transparency in public communication, we believe that genuine accountability requires full disclosure and proper documentation of all financial transactions, liabilities, and assets inherited by any administration.”
FredFish set out specific items the group wants made public. He said the state should provide “A comprehensive breakdown of all loans inherited by the Umo Eno administration, including the total number of outstanding loans as of May 29, 2023; Names of the financial institutions involved; Interest rates, tenure, and repayment schedules.
“A clear statement of the total cash balance and financial instruments inherited, including actual cash in the state’s accounts as at May 29, 2023; Funds in reserve accounts, outstanding inflows from the Federation Account; Status and value of all promissory notes inherited from the previous administration.”
He added that full disclosure will help the current government build trust and let the public know the true state of Akwa Ibom’s finances.
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