Fresh revelations have emerged exposing an alleged massive financial misappropriation under the administration of former Akwa Ibom State Governor Emmanuel Udom. Documents obtained by Akelicious reveal that key officials in the government orchestrated a well-coordinated scheme involving illicit cash withdrawals from state coffers, amounting to a staggering ₦700 billion.
According to financial records, several high-ranking government officials repeatedly withdrew enormous sums of money in tranches of ₦10 million each, a tactic seemingly designed to avoid triggering banking scrutiny. These transactions, executed without proper documentation or justification, blatantly contravene Financial Regulation 603, which mandates that all expenditures must be backed by verifiable details, including invoices, Local Purchase Orders (LPOs), and authorization letters.
Dorathy Inyang, a senior official, withdrew over ₦1.1 billion from the SSG account with Zenith Bank (1013528932) in multiple tranches of ₦10 million.
- On January 19, 2016, she withdrew ₦180 million in multiple transactions.
- On February 9, 2016, she received another ₦130 million.
- Several other transactions followed, all lacking transaction descriptions or justification.
Peter E. Peter, another key figure in the scandal, received a total of ₦4,202,050,000 from multiple government accounts, including the Office of the Governor’s Main Account, Press Section Account, Upkeep Account, Protocol Account, and Surveyor General’s Project Account.
Breakdown of withdrawals:
- ₦797 million from the Office of the Governor AKSG Account (Zenith Bank: 1014317094)
- ₦810.65 million from the same account
- ₦1.073 billion from the Office of the Governor – Press Section (Zenith Bank: 1014539562)
- ₦233.4 million from the Office of the Governor – Upkeep Account (Zenith Bank: 1014820097)
- ₦863 million from the Office of the Governor – Protocol Account (Zenith Bank: 1014666864)
- ₦395 million from the Office of the State Surveyor General – Project Account (Zenith Bank: 1011309760)
- ₦30 million from the Government House Clinic Account (Zenith Bank: 1014671512)
3. MANDU JOHN UDOEKON – Office of the Deputy Governor
Another key beneficiary of the scheme, Mandu John Udoekon, withdrew over ₦180 million from the Office of the Deputy Governor’s Account (Zenith Bank: 1010762328).
- ₦80 million was withdrawn in one transaction.
- ₦100 million was withdrawn in another suspicious transaction.
The scale of these financial transactions, carried out with no documented approvals or justifications, suggests a deliberate attempt to siphon state funds. These cash withdrawals raise serious concerns about money laundering, abuse of office, and a complete disregard for financial transparency under Emmanuel Udom’s administration.
The Financial Regulation Act stipulates that any expenditure exceeding approved thresholds must follow due process, including approval from relevant authorities and proper documentation. However, in this case, these rules appear to have been ignored, pointing to a systematic looting of state resources.
