Senate Committee Investigates Rivers Sole Administrator Over Missing N400bn Report

Senate Committee Investigates Rivers Sole Administrator Over Missing N400bn Report

The financial management of Rivers State, under the leadership of Vice Admiral Ibok-Ete Ibas (rtd.), has come under intense scrutiny as the state fails to release its quarterly budget performance report. 

The report, a critical document for tracking how public funds are allocated and spent, has not been made available for the January-March 2025 period, marking a significant breach of fiscal transparency.

This is the first time since late 2023 that the state has missed its quarterly publication deadline, which is typically within 30 days after each quarter ends.

 The report's absence raises concerns about the management of over N400 billion that was expected to flow into the state’s coffers during Ibas' six-month tenure as sole administrator.