Vice Admiral Ibok-Ete Ibas (retd.), the immediate former administrator of Rivers State, arrived at the State House at approximately 6 p.m. on Wednesday and was escorted into the meeting by Edun and Olukoyede.
Three days after the former sole administrator turned down requests from the Rivers State House of Assembly to look into spending during his six-month watch, Ibas was welcomed by President Bola Tinubu along with Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, and Ola Olukoyede, the Chairman of the Economic and Financial Crimes Commission.
Edun was seen on Wednesday evening arriving at the Villa, but he later returned with a file. At the time this report was filed, no information about the meeting was made public, but a source close to the President confirmed that Ibas’ appearance is related to his six-month stewardship in the oil-rich state.
Hector Igbikiowubo, the former Rivers State Administrator’s media aide, claimed he was unaware of the meeting but promised to enquire and get back to our correspondent.
However, at the time of writing this story on Wednesday evening, he has not yet done so.
After President Bola Tinubu ordered Siminalayi Fubara, the suspended state governor, his deputy, and the members of the state House of Assembly to return to their positions from the previous Thursday, Ibas resigned as administrator of the oil-rich state on September 17, the day after the six-month emergency rule ended.
over its first plenary following the end of emergency rule, the Rivers State House of Assembly, led by Speaker Martin Amaewhule, said that it will look into the state spending over the six-month period.
In regards to using the consolidated revenue source for contract awards and other expenses, the House had decided “to investigate the process of knowing what transpired during the emergency rule.”
According to the findings, during Ibas’ administration, Rivers State got at least N254.37 billion from the Federation Account Allocation Committee between March and August 2025.
An examination of FAAC data from the National Bureau of Statistics and several sources served as the basis for this.
Official NBS breakdowns are available through June, but the numbers for July and August were compiled from documents that were presented at FAAC meetings.
According to the documents examined, the state received approximately N38.42 billion in July and N41.76 billion in August, bringing the total net allocations for the six months to N254.37 billion, or an average of N42.40 billion per month. The NBS data showed that Rivers received N44.66 billion in March, N44.42 billion in April, N42.80 billion in May, and N42.30 billion in June.
