President Bola Ahmed Tinubu on Tuesday summoned the immediate past Administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (retd.), to the Presidential Villa, Abuja, amid growing scrutiny of the state’s finances during the six-month emergency rule.
Ibas, who arrived at Aso Rock around 5:50 p.m. dressed in brown traditional attire, was joined at the meeting 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 Olukayede.
Edun had entered the villa earlier but briefly left, returning moments later with a file in hand — a move that signalled the gravity of the discussions behind closed doors.
The retired naval chief was appointed sole administrator of Rivers State in March 2025 after President Tinubu declared emergency rule following months of political turmoil. His tenure ended on September 17, when the President directed the suspended Governor, Sir Siminalayi Fubara, his deputy, and members of the State House of Assembly to resume their duties.
One of the first decisions taken by the Martin Amaewhule-led House of Assembly after returning to work was to launch an investigation into the state’s finances under Ibas. The lawmakers resolved “to explore the process of knowing what transpired during the emergency rule with regard to spending from the Consolidated Revenue Fund for the award of contracts and other expenditures.”
Ibas has openly rejected the decision to probe his administration’s financial activities.
Available records show that Rivers State received at least ₦254.37 billion from the Federation Account Allocation Committee (FAAC) between March and August 2025, a period that coincided with Ibas’s stewardship as sole administrator.
Neither the Presidency nor the EFCC has issued an official statement on the outcome of Tuesday’s meeting as of press time.
