APC Akwa Ibom

WHO WILL SAVE AKWA IBOM STATE FROM GOVERNOR UDOM’S DEEP POCKETS!?
Opinion: GOV UDOM THE FIRST SERVING STATE CHIEF EXECUTIVE BETWEEN 2015 - 2018 INDICTED & WANTED BY THE EFCC
Investigations Reveal:
- He allegedly owns a massive palatial housing estate in Ogun State.
- He has allegedly bought large shares in Zenith bank and is currently one of its major shareholders.
When Udom built a mansion for himself soon after he took his oath of office, the innocent good natured Akwa Ibom people should have been on guard. The State was shocked to see an Olympic swimming pool in his village even before he had started his famous ground breaking. In fact I can reveal to you that the Governor built two mansions during that period. Apart from the massive house he built in Onna, he secretly built another edifice for himself next to his original house in Ewet Housing. When we write these things people say we are creating stories. Onna might be too far for some of you - but those of you in Uyo take a keke ride to Ewet Housing - G Line. Everyone knows Udom’s original house before he became Governor, now look at the new mansion he built beside the old structure. The day I saw that new project - I shook my head and said, “Akwa Ibom has indeed entered one chance with this banker!” But then Governor Udom is an investment banker what was I expecting? He’s professional instincts will always drive him to invest even if it’s against the fortunes of the State he presides.
Today it has just been alleged, he has another major investment, a massive Housing Estate in Ogun State, right next door to Lagos State. This is one Governor who has not built a SINGLE low cost housing estate for his citizens. A project his predecessor took on with the security villages and low cost housing scheme in Uruan.
But this is not as damning as the revelation which also alleges that our Governor has become one of the biggest shareholders in Zenith bank. What are the financial implications?
Many Akwa Ibom citizens may not know this but 90% of Akwa Ibom’s billion naira Federal allocation fund is deposited in Zenith bank, including Local Government funds. Akwa Ibom State is one of Zenith’s bank’s biggest customers, if not the biggest. Akwa Ibom State deposits an average of N20 billion to N25 billion a month in Gov Udom’s bank. The interest our money accrues for the owners of Zenith bank runs into millions of dollars. It is even higher if we are currently borrowing from the bank, some Nigerian banks charge as high as 49% interest. It means if the State Government borrows N10 billion to build a stretch of road , it is paying back N15 billion; N5 billion is Zenith bank profit. And guess who scoops up that profit - the major shareholders, of whom Gov Udom is alleged has now become a major player in an exclusive club.
Akwa Ibom is in trouble! I believe more facts will be revealed once the present State Government loses the elections in 8 weeks and is booted out before March 2nd 2019.
A few months ago a friend of mine on Facebook David Brown revealed he had heard from a reliable source rumours that the Governor once he leaves office was planning to float a new bank in Nigeria.
While Ndito Akwa Ibom are rejoicing over Governor Udom’s “mystery projects”, according to Obong Victor Attah. It appears the Governor’s ambition is to become a multi billionaire by the end of his tenure on the back of our people’s commonwealth.
I hope the incoming Governor, Nsima Ekere carries out a thorough investigations into these allegations. I have even heard rumours that Governor Udom sometimes borrows money to pay salaries. The new State Governor I hope investigates if these claims are true? Who is lending the money, is it Zenith bank? At what interest rate? Who is providing the loan - is there an arrangement with one of the major shareholders? And what is his identity?
There are many questions. I stand with APC Akwa Ibom State and call on the EFCC to thoroughly investigate these allegations and give justice to our suffering masses.
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All Progressives Congress
Akwa Ibom State Chapter
149 Ikot Ekpene Road
Uyo
Press Statement
The Indictment of Udom Emmanuel
Gov. Udom Emmanuel has this week become the first serving governor in the country to be indicted by the EFCC or any law enforcement agency for high criminal conduct. Together with his finance commissioner Linus Nkan; Uwemedimo Nwoko, the Commissioner for Justice & Attorney General; Mfon Udoma, a director in the Accountant General’s Office and Paul Usoro, the NBA President, Udom Emmanuel has been formally charged by the EFCC for money laundering, a very serious criminal offence. But because of his Constitutional immunity, the governor will not stand trial now till he leaves office next year. However, his co-accused will stand trial at the Federal High Court in Lagos. The governor is accused of laundering N1.4 billion through his lawyer, Paul Usoro, sometime in March 2016, soon after the Supreme Court pronounced him governor. Paul Usoro, we recall, was the governor’s lead counsel throughout the 10-month election petition trial. Our party believes that the favourable court judgment was procured through huge cash inducements.
This indictment is clearly a badge of shame on Akwa Ibom State, brought on us by Udom Emmanuel and his gang of thieves in government. It is also a clear evidence of the huge corruption and stealing that have been recorded under this governor. No governor of this state has brought so much odium and embarrassment to our people like Udom Emmanuel. His incompetence and poor performance on the job are no less an anguish. Over the last three years, the APC in Akwa Ibom State, and indeed many Akwa Ibom people, have spoken loudly and publicly about the opacity, dishonesty and deceitfulness of the Udom administration; especially in the manner it handles our finances. We are aware that since he became governor (of course under very dubious and deadly circumstances), Udom Emmanuel has built a large residential estate in Ogun State, very close to Lagos, in addition to establishing many other businesses in other parts of the country. We are also aware that the governor has been buying large number of Zenith Bank shares on the floor of the Nigerian Stock Exchange, to the consternation of the chief promoter of that bank. Today, our governor is among the highest stockholder in Zenith Bank. In the first three months after he assumed office, Udom Emmanuel’s first assignment was to build a palatial home with Olympic-size swimming pool in his village. Initially, he had lied to the people that he was only renovating his father’s house. We are acquiring evidence of these corrupt acts and we shall turn them over to the authorities as soon as the governor leaves office in 2019. Udom Emmanuel should note that inside our jail houses today sit a couple of former governors.
We commend the EFCC for its meticulous investigations into the corrupt practices of this administration, and urge the agency to prosecute this case very diligently. We request the EFCC to beam its searchlight on other woolly areas of government business in Akwa Ibom State.
Signed
Hon. Iniobong Okopido
Akwa Ibom State APC Chairman
10th December 2018