President Bola Tinubu on Wednesday held a closed-door meeting with the immediate past Sole Administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (retd.), at the Presidential Villa in Abuja.
Sources confirmed that Ibas arrived at the Villa at approximately 5:50 PM, dressed in a brown traditional outfit. He was accompanied by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede.
During the meeting, observers noted that Minister Edun briefly stepped out and returned with an official file—adding further intrigue to an already sensitive political development.
The meeting follows Ibas’ exit from office on September 17, after completing a six-month emergency tenure as Sole Administrator of Rivers State. His tenure was initiated following President Tinubu’s directive to temporarily suspend Governor Siminalayi Fubara, his deputy, and the state’s House of Assembly amid intense political instability in the state.
However, with the reinstatement of the suspended officials, including Governor Fubara and the House of Assembly, scrutiny has now shifted to Ibas’ administration and its financial conduct during the interim period.
On Thursday, the Rivers State House of Assembly, led by Speaker Martin Amaewhule, passed a resolution to investigate all financial transactions executed under Ibas’ six-month administration. Lawmakers emphasized the need to understand how funds from the Consolidated Revenue Fund were utilized—particularly in the awarding of contracts and major expenditures.
“The House will explore the financial operations during the emergency rule, especially in relation to spending from the consolidated revenue fund,” the resolution stated.
Available data indicates that Rivers State received at least ₦254.37 billion from the Federation Account Allocation Committee (FAAC) between March and August 2025—a figure now central to the emerging controversy.
In response to the Assembly’s resolution, Ibas reportedly dismissed the probe as a “fool’s errand,” signaling possible resistance to the investigation.
The presence of both the Finance Minister and EFCC Chairman at Wednesday’s meeting suggests that the Presidency may be preparing for deeper engagement on the issue—possibly including forensic audits or anti-corruption action.
As tensions mount in Rivers State, the unfolding drama could have broader implications for the Tinubu administration’s governance strategy and anti-corruption posture ahead of the 2027 general elections.
