By Joe Nwankwo - Abuja

Governor of Rivers state, Governor Nyesom Wike, has declared that his predecessor in office Rotimi Amaechi sold off 70% of the State’s power assets worth over $320 million and looted the funds as he met no single dollar in the state’s account on assumption of office.

Justifying why he set up a Commission of Inquiry on the activities of the past administration he said that not only were government property looted, but he that inherited a huge debt profile.

According to him, “Our Power assets, 70 per cent of it, were sold at$302,400,000.“The money was paid in December and as at March this year, there was no single dollar.”The Permanent Secretary denied knowledge of this transaction.

He also denied sacking 344 lecturers of the state’s polytechnic, maintaining that it was part of the orchestrated propaganda against his government as none of the so-called lecturers completed documentation nor received any salary since their purported employment.

The governor while speaking in Abuja, explained that because he meta government bereft of any meaningful infrastructure, he was forced to mortgage the state’s share of the Value Added Tax (VAT) for 20 months to secure loan to complete some strategic abandoned projects in the state.

On alleged witch-hunt by his predecessor, Chibuike Amaechi, the Rivers state governor insisted that nothing can be further from the truth and that there was no evidence that the Tribunal or that the vehicles so far recovered were parting gifts or purchased by the persons from whom such vehicles were recovered from.

He stated that in spite of his efforts and demand, Amaechi refused to hand over government to him, adding that even Permanent Secretaries denied knowledge of what transpired before he came into office and that he even had to use his personal money to buy diesel to power Government House generators.

Wike further alleged that 70 per cent of the state government’s power assets were sold off by the Amaechi administration and that the over $200million dollars sales proceeds was completely spent before he got into office.

On the sacking of lecturers he stated: “Let me make it clear, the Rector was still writing employment letters in April after I had won election. He had not even issued letters to anybody.“

Nobody has started any work. When you can’t pay salary for two months, you were employing more people, how do you pay them?”

Source:http://dailyindependentnig.com/2015/06/amaechi-sold-off-rivers-assets-worth-302m-wike/

Dedicating dis space to ECOTERRORS

Issorite.

OREMUSSANCTUS:

Look As I dey see in yansh 4 up.
Mods Ban space bookers

Haba Wike!

You too lie...

$302,400,000*200: N60,480,000,000

Ameiche cant steal that much.

Ok Amecihe oya talk true! Where is the money?

Yeye people.

?!

hefty4real:
Look As I dey see in yansh 4 up. Mods Ban space bookers

U better remove ur face cos ma shitz wan drop soon

Amaechi almost turned Rivers state into a joke. But God was against him.

Amaechi is a theif and deserve to be in jail

Amaechi is a theif and deserve to be in jail.

Where is ngeneukuenu, come and see your role model being exposed for the criminal that he is

OREMUSSANCTUS:
Dedicating dis space to ECOTERRORS

thanks, Can you kindly shift lemme call Amaech THEIF, OLE, BARAWO, ONYE OSHI

ECOTERRORS:
Amaechi is a theif and deserve to be in jail

I Am Sure You Are One Of Those Tanoids That Lambasted And Criticized Buhari When He Said Jonathan Left An Empty Account For Him

ECOTERRORS:
Amaechi is a theif and deserve to be in jail

I Am Sure You Are One Of Those Tanoids That Lambasted And Criticized Buhari When He Said Jonathan Left An Empty Account For Him , Bunch Of Hypocrites

ECOTERRORS:
Amaechi is a theif and deserve to be in jail.

Where is ngeneukuenu, come and see your role model being exposed for the criminal that he is

Amaechi was their meal ticket, most of those money ended up with newspaper writers and channels TV. Their hope of free money is now hinging on Peterside.

Anikulhapo:
I Am Sure You Are One Of Those Tanoids That Lambasted And Criticized Buhari When He Said Jonathan Left An Empty Account For Him , Bunch Of Hypocrites

Buhari lied and that has been proven.

OREMUSSANCTUS:
Dedicating dis space to ECOTERRORS

thanks, Can you kindly shift lemme call Amaech THEIF, OLE, BARAWO, ONYE OSHI.

Anikulhapo:
I Am Sure You Are One Of Those Tanoids That Lambasted And Criticized Buhari When He Said Jonathan Left An Empty Account For Him , Bunch Of Hypocrites

We talking Amaechi You calling Daura President

where is that APC fatty bum bum girl on nairaland? am searching everywhere for you, pls come out ooo, your ameachi is a thief ,

This wike guy self ..... he talks too much



So so talk like Woman

atlwireles:


Buhari lied and that has been proven.

By What And Who? Jonah Had $30bn Yet He Wanted To Borrow To Fight Boko Haram, He Borrowed To Pay Salaries And U Guys Said He Left $30Bn In Our External Reserves, Who Is Fooling Who?

The gay first lady!

ECOTERRORS:
We talking Amaechi You calling Daura President

What A Baseless And Senile Reply From A Senile Creature

Anikulhapo:
By What And Who? Jonah Had $30bn Yet He Wanted To Borrow To Fight Boko Haram, He Borrowed To Pay Salaries And U Guys Said He Left $30Bn In Our External Reserves, Who Is Fooling Who?

You are fooling yourself, try educating yourself on Nigeria's government finances, its much cheaper than your ignorance.

atlwireles:



You are fooling yourself, try educating yourself on Nigeria's government finances, its much cheaper than your ignorance.

Ur Stupidity And Senility Plus Ur Insanity Are Cheaper Though

Anikulhapo:
Ur Stupidity And Senility Plus Ur Insanity Are Cheaper Though

Again get some education, don't become another dullard like your almajiri from Daura.

Buhari is scouting for looters of our economy, report Rotimi to be roasted by him.

[b]“At the time Rt. Hon. Chibuike Rotimi Amaechi assumed office, of the 350 Megawatts (MW) total capacity generation assets invested by the State, only 70MW (equivalent to about 20 per cent) was available. With enthusiasm, Rt. Hon. Chibuike Rotimi Amaechi ramped up the efficiency to 77 per cent availability including injecting another 360MW Green Field Generation Project at Afam, of which 180MW have been commissioned and is in commercial operation.

“To mitigate the swing in efficiency and its debilitating impact on the economy, the State Government sought private sector operators and sold 70 per cent equity stake in the power generating assets’ company to NG Power HPS. For the transaction, the State Government adopted the same model as the Federal Government in the sale Egbin Power Plant. The sale was at a price per MW higher than all the privatization MW rate done by the Federal Government.

“The proceeds from sale of the equity in the power generating assets’ company was captured as income in the 2014 Appropriation Law and deployed into funding capital projects as appropriated.”[/b]


http://www.premiumtimesng.com/regional/south-south-regional/185593-how-i-delivered-good-governance-to-rivers-state-amaechi.html