The Economic and Financial Crimes Commission (EFCC) has launched a comprehensive investigation into the alleged financial malfeasance during the eight-year tenure of former Abia State Governor, Dr Okezie Ikpeazu.

The probe stems from the findings of a forensic audit conducted by KPMG Advisory Services and provided to the EFCC by the current Governor, Dr Alex Otti. The audit report reportedly uncovered evidence of financial recklessness during Ikpeazu’s administration.

The EFCC’s investigation will focus on several allegations, including:

* Misappropriation of public funds
* Violation of Abia State’s public procurement laws
* Diversion of N10 billion raised through UBA for a non-existent airport project

The forensic audit revealed that Ikpeazu and state officials bypassed the Public Procurement Law of Abia State in awarding contracts worth billions of naira. This revelation follows the former governor’s recent claims that the airport project was funded and executed during his tenure.

THE WHISTLER’s previous report highlighted the payment of N10 billion to Ferotex Construction Company for the non-existent airport project. Despite Ikpeazu’s assertion that the funds were used for road projects, the forensic audit and lack of virement approval suggest otherwise.

Revelations have sparked public outrage and calls for the arrest and prosecution of Ikpeazu and his officials. THE WHISTLER’s report has brought the alleged corruption to the forefront, prompting the EFCC to initiate a thorough investigation.

The EFCC’s probe is expected to shed light on the extent of financial misconduct during Ikpeazu’s administration and bring those responsible to justice. READ THE FULL ARTICLE