Amaechi: I left ‘N7.5 billion cash’ for Wike

In reaction to an allegation that he emptied the Rivers state treasury before his exit, Chibuike Amaechi, immediate past governor of the state, has said he left a N7.5 billion “cash” in the state’s treasury for Nyesom Wike, the present governor.

Amaechi flayed Wike for taking a loan of N30 billion from commercial banks in the excuse that the treasury was empty, saying the loan was needless.

According to a statement issued by the media office of the former governor on Thursday, Amaechi emphasised  that ” a total of N7.5billion cash was left behind as balances in the state internally generated revenue(IGR) account with Skye bank, FAAC account with Zenith bank, balances with Access bank and funds in the state reserve fund account in Firstbank.”

“This is besides other balances in the state government house account with Zenith bank and other government MDA accounts, like the Bureau for Public Procurement (BPP).  By the time you pull all these together, we are looking at readily available cash in the region of eight to 10 billion naira left for the Wike administration,” the statement said.

“It’s also pertinent to point out here that former governor Amaechi also left economic assets worth tens of billions of naira for the State. Just like cash, the assets store value. These assets that are scattered in diverse sectors of the economy were developed or built or procured with revenue that accrued to the state during Amaechi’s tenure. The assets belong to Rivers State, not Amaechi.  Some of these assets are presently yielding revenue to the state coffers, and many can be easily and readily converted to cash, if the State so desires.

“It is therefore disingenuous and fraudulent for Wike to claim that Amaechi left an empty treasury in his bid to justify the N30billion loans he collected under 30 days in office. Rather than this puerile and silly distraction of always pointing accusing fingers at Amaechi, Wike  should come out to explain to Rivers people what he took the loans for, account for and justify every kobo that has been spent from the loans.”