[size=15pt]Okorocha freezes Imo accounts[/size]

Friday, May 13, 2011






Tension is rising once more in Imo State following reports that the campaign office of the state Governor-elect, Chief Rochas Okorocha, has frozen all the state government accounts with banks in the state.

Investigations reveal that Chief Okorocha’s Chief of Staff, Prince Eze Madumere, wrote a letter to all the banks dealing with the state government placing embargo on the accounts until the governor-elect, is sworn in on May 29, 2011.

Investigations further reveal that this move, which many analysts have described as an illegality is wrecking havoc in the state especially as civil servants in the state are yet to receive their April salaries. Sources close to some of the banks in Owerri reveal that cheques issued by the state government for the payment of workers salaries were dishonoured by the banks.

The latest development, according to investigations, is once more raising the political temperature in the state which dipped following a statement by the out-going governor, Chief Ikedi Ohakim accepting the outcome of the election and declining going to court to challenge it despite some perceived irregularities. Some observers wonder why the governor-elect, whose aides are no signatories to the said government accounts would allow such a move that has the potentials of grounding the state or indeed jeopardizing his own swearing in ceremonies which will have to be midwife by the sitting administration.

http://www.sunnewsonline.com/webpages/news/national/2011/may/13/national-13-05-2011-002.html

Ohakims plans to stack government money before he takes off is destroyed.

ohakim already took out 18 Billion credit from the banks.

nice move by Rochas

Does Rochas have that much power for this kind of action?

Rochas is not sworn in yet, I wonder how he can effect this at this time.

This is veeeery good. let the civil servants be patient. nigerians should learn to sacrifice in order to enjoy. When rochas comes in they will be paid even more. But to allow ohakim carry the money Mba o.

The story doesnt add up.

Hmm, it shouldn't end here. The bloke(ohakim) need to be probed seriously

Anybody who believes this news will believe anything.

Okorocha does not have power to do this.

He is a lawyer by training and understands the limits of his powers.

I thought Ohakim was still governor??

How possible could this be?

This is not possible until he is sworn as governor.

Or did he. . .

If he did what I think he did, this man is very smart.

obviously fake news

salaries of April still being paid middle of may

all these journalist with their 'investigations revealed' 'sources revealed, 'experts who dont want to be named' and observers bla blah should never be trusted!

All rochas need to do is to tell the banks that if u lend any money to this guy I will not honour it, moreove any gov on the verge of  leaving yet awarding contracts, those contracts can't b genuine, no due process so it is therefore nulled n void.

Some of you have good points. I guess we'll just have to wait and see if other newspapers have the same type of story.

And which bank will honour such request?

Look, I am not a supporter of Ohakim, but it is illegal for banks to honour such a request from Okorocha cos He has not been sworn in as Governor yet

useless journalism - ok me too as a nigerian will write to all banks to dishonour cheques written by the FG.

for the sake of God " the man is not even sworn in yet "

@ Dis guy i was in d bank yesterday when a lady came to check whether her april's salary schedule was posted to bank

@ OP I don't believe it's true.

macjive01:

All rochas need to do is to tell the banks that if u lend any money to this guy I will not honour it, moreove any gov on the verge of  leaving yet awarding contracts, those contracts can't b genuine, no due process so it is therefore nulled n void.

I agree with this. The banks will want to be sure that the incoming government will honour any financial agreement reached with the outgoing. Now if the outgoing states in writing that it wont honour it, that call for concern.

Legally the bank's cannot refuse to honour withdrawals if the account of the government is funded, but they might not be in the position to advance further concession or loans to the incumbent. They might also resort to different kinds of delay tactics to frustrate the outgoing governor.

Any bank that loan him money now does that to their own peril.

Who is the present Imo state governor? Okorocha won't be governor until 29th of May, what power does he have to freeze government account when he is not the governor?

sun newspaper is really doing damage to Nigerian journalism.

Its an illegality, hes not sworn in yet but unfortunately this is naija anything goes and the banks know that ohakim isnt relevant for now cos in a matter of dayz he would leave office. any bank that goes against okorachas directive will not have any dealings with his govt. thats the bitter truth.

This is very possible as i have witness coumtless of time in the north, where govornor elect will freeze state accounts.

Isa yuguda did thesame to Ma'azu in Bauchi state.

Very good move! Coming from no other than the LION himself.

Sun newspaper just sensationalised it! Of course as gov-elect rochas does not have legal powers but moral powers, his word to the banks is sufficient to frustrate Ohakim from any last minute withdrawals. Any bank that defies rochas is risking loosing imo state's account come may 29. This is a humilating slap on the arrogant gov. whicch serves him right.

Na wah for una o. There is no argument here at all, as a Bank MD you dont need to be a guru to know that the main ""koko"is the word of the Incoming (Okorocha) and not the outgoing (Ohakim). Okorocha does not need to go to court to freeze the account by mere pronouncing it all banks supposed arrange themselves. Or else be rest assured that the next 4 years no goverment deposits. So tell me if you are the bank MD would you ignore the directive?

maddock:

Na wah for una o. There is no argument here at all, as a Bank MD you dont need to be a guru to know that the main ""koko"is the word of the Incoming (Okorocha) and not the outgoing (Ohakim). Okorocha does not need to go to court to freeze the account by mere pronouncing it all banks supposed arrange themselves. Or else be rest assured that the next 4 years no goverment deposits. So tell me if you are the bank MD would you ignore the directive?

We all agree that it is possible because of the Nigerian factor - but it is not Legal for a bank to receive directive from a not yet sworn in governor.  hence because of the illegal directive salaries wont be paid

this is how we breed illegality.
tomorrow it will come back to bite us.

@mbulele and blacksta
I quite agree with you it is very wrong but a situation where high level corruption and looting is the order of the day, this measure is a welcome one. You will be amaze at the various memos for contract being backdated and the money collected all the bid to steal as much as possible. Majority of them politicians in nigeria are mentally unbalanced. Did you not read about the Bankole loan issues that surfaced this week, what is the outcome of the mata i can very well bet my last pence that it has been swept under the carpet. Lots of illegality are being perpetrated on a daily and if you wait to counter them the legal way it might just be too late.

maddock:

Na wah for una o. There is no argument here at all, as a Bank MD you dont need to be a guru to know that the main ""koko"is the word of the Incoming (Okorocha) and not the outgoing (Ohakim). Okorocha does not need to go to court to freeze the account by mere pronouncing it all banks supposed arrange themselves. Or else be rest assured that the next 4 years no goverment deposits. So tell me if you are the bank MD would you ignore the directive?

True!!