Ibas Meets Tinubu, EFCC Chair as Rivers Assembly Probes ₦254bn Allocation

President Bola Tinubu on Wednesday evening received the immediate past administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (rtd.), at the Presidential Villa, Abuja. The meeting, which began around 6:00 p.m., was attended 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.

Ibas, dressed in brown native attire, was ushered into the State House after Edun and Olukoyede had earlier been sighted at the Villa. Notably, Edun returned to the meeting later in the evening carrying a file, underscoring the weight of the discussions with the President. While official details of the engagement were not made public, sources within the Villa suggested that the talks were linked to Ibas’ six-month stewardship in Rivers State under emergency rule.

Rivers State Leadership Restored

Vice Admiral Ibas ceased to function as administrator of Rivers State on September 17, following the termination of emergency rule imposed in March 2025. His departure coincided with President Tinubu’s directive reinstating the suspended Governor Siminalayi Fubara, his deputy, and members of the State House of Assembly.

The emergency rule, which lasted six months, saw Rivers State governed solely by Ibas without elected representatives in office. With the return of the civilian leadership, Speaker Martin Amaewhule presided over the Assembly’s first plenary session, where lawmakers resolved to probe the financial management of the state during Ibas’ tenure.

Scrutiny of State Finances under Ibas leadership

The Rivers Assembly specifically resolved to investigate expenditure from the state’s consolidated revenue fund, particularly contracts and other commitments made during the emergency period. In response, Ibas publicly rejected the move, arguing that his administration acted responsibly within the mandate given by the federal government.

Findings from the National Bureau of Statistics and Federation Account Allocation Committee (FAAC) records revealed that Rivers State received at least ₦254.37 billion between March and August 2025. The breakdown showed ₦44.66 billion in March, ₦44.42 billion in April, ₦42.80 billion in May, ₦42.30 billion in June, ₦38.42 billion in July, and ₦41.76 billion in August. The allocations averaged ₦42.40 billion per month, placing Rivers among the highest-funded states during the period in review.

Although the outcome of Wednesday’s closed-door meeting remains undisclosed, the presence of both the EFCC chairman and the finance minister suggested a strong focus on accountability and financial transparency regarding the Rivers administration under Ibas.