The Edo State Assets Verification Committee, established under the leadership of Governor Monday Okpebholo, has released preliminary findings revealing possible fraudulent activities in the execution of projects by the previous administration led by Godwin Obaseki.
This announcement was made during a recent press briefing geared toward informing the public about the committee’s interim assessment of various verified assets.
Dr. Ernest Afolabi Umakhihe, Chairman of the committee, highlighted several projects that are under scrutiny for alleged misconduct, including the Radisson Hotel, the Edo State Oil Palm Project, and the Edo State Information Communication Technology Agency (ICTA), among others. Umakhihe specifically pointed to the transactions associated with the Radisson Hotel project as particularly concerning.
He detailed that the project was initiated through the allocation of over N17.5 billion sourced from the Stock Market, with N2 billion earmarked for land acquisition. However, Umakhihe expressed that a significant shift occurred just prior to the conclusion of the previous administration, resulting in a change of ownership that reduced Edo State’s stake in the venture to mere 20 percent.
He emphasized the need for the current government to reclaim its rightful position as the primary investor and stakeholder.
Additionally, the committee discovered that several agencies established by the past administration focused on executing specific projects lacked transparency. Umakhihe noted that these agencies, which reported directly to the governor, operated without readily accessible information to the public. One such notable agency was the Edo State Oil Palm Project Office, which was accused of necessitating high consultancy fees that burdened the state’s finances.
In highlighting the issues surrounding the Edo State ICTA, Umakhihe articulated concerns over the involvement of two external firms, Greenfields Consultancy and Allied Services Limited and Greenzone Technologies. He claimed these entities took over the ICTA’s responsibilities in project contracting and vendor selection for various technology initiatives, with numerous dubious financial practices allegedly at play.
“Consider the commitment made by the Edo State Government to expending over N5 billion on a cybersecurity software license for the EdoGov platform for just three years, from 2023 to 2025. Of this amount, N1.7 billion has already been paid by the former government,” he stated, adding that these revelations were merely a fraction of the issues discovered.
Umakhihe assured the public that the committee’s work remains ongoing, with its next session scheduled to commence on January 6, 2025. The upcoming discussions will focus on additional critical sectors including housing, education (specifically SUBEB and EDOBEST), environmental management, health sciences, and various agricultural initiatives such as the Edo Oil Palm Project.
He expressed confidence that, through diligence and detailed analysis, the committee aims to produce an exhaustive report outlining the state’s assets and liabilities. This comprehensive document is intended to provide the Okpebholo administration with essential insights for making well-informed decisions moving forward.
