SERAP Demands Full Transparency Over N302 Billion Rivers State FAAC Expenditure Under Ibas
The Socio-Economic Rights and Accountability Project (SERAP) has issued a strong demand for complete transparency and accountability concerning the six-month administration of Rivers State Sole Administrator, Vice Admiral Ibok-Ete Ibas (rtd), and the alleged expenditure of over N302 billion received from the Federation Account Allocation Committee (FAAC) and other sources.
Court Documents Reveal Massive Financial Disclosures
According to SERAP, the Rivers State Accountant-General and the Ministry of Budget and Economic Planning provided detailed information to the High Court of Rivers State in Port Harcourt regarding how Ibas allegedly spent more than N302 billion from FAAC allocations and additional funds between March and August 2025. These disclosures emerged from a Freedom of Information lawsuit, numbered PHC/4153/CS/2025, which SERAP filed to seek clarity on the six-month emergency rule period in Rivers State.
In a counter-affidavit dated March 10, 2026, submitted in response to SERAP's legal action, the Accountant-General and the Ministry of Budget and Economic Planning confirmed that Rivers State received FAAC allocations exceeding N253 billion during the specified six-month timeframe. Supporting documents, including Exhibit DTI (bank statements) and Exhibit DT2 (capital pages of the Government House estimate), spanning 49 pages, outline government expenditures surpassing N300 billion, encompassing both FAAC allocations and other financial inflows.
Specific Expenditure Details and SERAP's Response
The counter-affidavit explicitly states: "Our records indicate that N28 billion was approved for the installation of Closed Circuit Television (CCTV) at the State House, but no actual expenditure occurred for this project. Consequently, no documentation exists to evidence such spending." It further clarifies that the defendants do not dispute SERAP's right to access information under the Freedom of Information Act and have no intention of withholding the requested documents.
Deputy Director of SERAP, Kolawole Oluwadare, emphasized that the organization is meticulously reviewing the extensive documents related to the spending of over N302 billion in FAAC allocations and other funds by the Rivers State government from March to August 2025. SERAP announced: "Our teams are conducting a project-by-project analysis of the expenditures. We will determine whether our information requests have been fully satisfied or if additional requests or amendments to our legal processes are necessary."
Preliminary assessments of the exhibits reveal that Rivers State received FAAC inflows of over N253.48 billion and other receipts totaling more than N44.87 billion from March to August 2025, resulting in total funds received of approximately N298.35 billion. The exhibits also detail transfers to government entities, payments to individuals via NIP transfers, and repeated transfers to the Government House during this period, with total spending shown to exceed N302.35 billion.
