Tuesday, 1 December 2015

News Release: Saving Anambra State From Governance Of Legacy Destruction & Indebtedness (Concluding Part)



 In the first part of this publication, dated and issued yesterday, 28th of November 2015, the leaderships of International Society for Civil Liberties & the Rule of Law (Intersociety) and the Anambra State Branch of the Civil Liberties Organization (CLO) expressed deep concern and dismay over rivalries considered unnecessary, distractive and developmentally unhealthy; between the present Government of Anambra State under His Excellency Chief Willie Obiano and his predecessor, Mr. Peter Gregory Obi.

For the records and avoidance of doubt, the consistent and uncompromising advocacy roles of the Anambra State Branch of the Civil Liberties Organization in promoting democracy, good governance and public accountability as well as preservation and protection of human rights particularly the civil and political rights in Anambra State is dated back to 1999 during the return to civil rule in the State and reached their peak during the 2003 armada of electoral fraud. The same roles by the International Society for Civil Liberties & the Rule of Law started in 2009 and have remained resiliently sustained since then. Our common objective in doing these is for the advancement  and sustenance of the collective interest of the people of the State through democracy, good governance, public accountability and human rights.

Again, we call on the Government of Anambra State under Governor Willie Obiano to move the State forward and stop dwelling in the past. Former Governor Peter Obi has governed the State and left it with enviable records yet to be attained by any Nigerian State Governor in the past forty years. What is desperately needed by the State and its peace loving people is to be taken to greater heights and not to be returned to cave and pariah status through politics of legacy destruction and indebtedness. We remain resiliently opposed to attempts to sink the State into serial indebtedness.

For Governor Willie Obiano to succeed and write his name in immortal gold, he must return to the drawing board and streamline his governmental approaches particularly in the area of management of governance costs.  The Governor must be reminded that Anambra People did not elect him for the purpose of comfort of office and promotion of favoritism, nepotism and cronyism or for the purpose of owambe governance; but to steadily put smiles on the faces of the people of the State through massive infrastructural development and maintenance as well as mass provision of tangible and intangible dividends of democracy. A governor that maintains up to 200, if not over 200 SAs alone and still appointing more till date; has laid a foundation of governance failure. With this number of SAs (operating under trees) alone, there is compound confusion in the State corridors of power as well as such SAs functioning as SAs of distraction and destruction.

The Governor should return to work and embark on massive rehabilitation of all failed portions of the State roads under operation zero portholes.  Many of the State’s inter-LGA and inter-city roads have failed in part owing to  devastating effects of the last rainy season, soil volatility of the State landscape as well as unchecked blockage of drainages and waterways. All the 21 LGA chairmen should be directed to compile and forward for immediate attention all the failed roads in their areas. We further demand the immediate recommencement of work on all road projects in the State including those started by former Governor Peter Obi administration and those awarded by the present Obiano administration; irrespective of their areas of location. We totally  say no to project abandonment in the State!  

We have also observed that the Lagos Park (former MICMERA) to Onitsha Army Barracks section of the Onitsha-Enugu Expressway as well as the Toronto Hospital to the Grail Message service lane of the Expressway is yet to be fully asphalted till date. This should be completed inexcusably. Permanent solution should also be found to address the menace of the flood threatening to cut off and wash away the newly reconstructed Nkpor-Awka Old Road at its Ogidi section. The Borrow Pit hosting the flood is overstretched; requiring a proper drainage to evacuate the flood to neighboring rivers or floodways. Issue of blocked drainages and gutters in the State should promptly be addressed using this dry season. The Governor’s intervention at the Nkpor Flyover gullies along Onitsha-Enugu Expressway without waiting till thy kingdom come for Federal Government; is very commendable. Similar intervention at the gullies threatening the lifespan and usage of the Onitsha-Owerri Dual Carriage Road at Okija (opposite Obijackson Industries) is also commendable. Such intervention is further needed at the right side of the Okija Bridge, which has completely collapsed.

Below is the statistical breakdown of the cash left by the Peter Obi administration in the State’s Ministries and Departments (MDAs) bank accounts as well as foreign currency (dollar) bonds in Fidelity, Diamond and Access Banks and the State’s capital investments in companies named below; as at 17th March 2014. Also contained in the statistical breakdown are the surpluses yielded by the two investments as of November 2015, excluding the liquid cash so left for Governor Willie Obiano. We had in the first part of this publication, promised to release the statistical breakdown in this concluding part. We, therefore, call on Governor Willie Obiano to ensure the protection and safety of the two sets of investments as well as investment of the State resources in more thriving and lucrative companies. If any of the investments has truly gone missing, it must be located, brought back and restored.
                                                                        
Banks Where the MDAs’ Cash Balances of N41.48Billion were lodged as at 17th March 2014:
A. Fidelity Bank PLC:
(1) Account Name: School Borehole Project Account; Account No: 5030025215; amount as at 17th of March 2014 was N115, 811,677.65; (2 ) Account Name: Anambra State School Development Project Account; Account No: 5030025246; amount as at 17th March, 2014 was N354, 334,833.51;(3) Account Name: Ministry of Commerce and Industry; Account No: 5030005521; amount as at 17th March, 2014 was N820,649,577.74; (4) Account Name: Special Excess Crude Account; Account No: 5030005239; amount as at 17th March, 2014 was N2,072,864,334.98; (5) Account Name: Anambra State Special Project Account; Account No: 5030005332; amount as at 17th March, 2014 was N101,906,722.45; (6) Account Name: Ministry of Works; Account No: 5030005514; amount as at 17th March, 2014 was N2,403,862,359.89; (7)Account Name: Anambra Strategic Reserve Account; Account No: 5030025875; amount as at 17th March, 2014 was N808,099,248.30.

 Others are: (8) Account Name: Ministry of Works (DLA) Account; Account No: 5030025545; amount as at 17th March, 2014 was N2, 029,706,380.45; (9 ) Account Name: Ministry of Education Account; Account No: 5030005772; amount as at 17th March, 2014 was N142,748,067.90; (10) Account Name: MDG Set Aside Project Account; Account No: 5030042724; amount as at 17th March, 2014 was N199,024,262.09; (11) Account Name: MDG Set Aside Project Account; Account No: 5030042731; amount as at17th March, 2014 was N199,024,262.09; (12) Account Name: MDG Set Aside Project Account; Account No: 5030042748; amount as at17th March, 2014 was N199,024,262.09 (13) Account Name: MDG Set Aside Project Account; Account No: 5030042755; amount as at 17th March, 2014 was N199,024,262.09 (14) Account Name: MDG Set Aside Project Account; Account No: 5030042762; amount as at17th March, 2014 was N199,024,262.09.

The rest are: (15) Account Name: MDG Set Aside Project Account; Account No: 5030042717; amount as at17th March, 2014 was N199,024,262.09; (16) Account Name: Ministry of public Utilities/ Water Resources Account; Account No: 5030045428; amount as at 17th March, 2014 was N209,420,221.47; (17) Account Name: Local Govt Community Development Account; Account No: 5030042391; amount as at 17th March, 2014 was N1,734,069,061.09; (18) Account Name: Anambra State Government Rehabilitation of Roundabout Roads Account; Account No: 5030047138; amount as at 17th March, 2014 was N3, 399,545,250.00; and (19) Account Name: Anambra State Government Account: Account No. 530047097; amount as at 17th of March 2014 was N3,048,355,196.79.

 Total Cash Balance in Fidelity Bank as at March 17th, 2014:N18,435,518, 504.3 (Eighteen Billion, Four hundred and Thirty-Five Million, Five Hundred and Eighteen thousand, Five Hundred and Four Naira, Three Kobo).

B. Diamond Bank PLC:
(1) Account Name: Joint Account; Account No: 0022404540; amount N3, 276,354,490.46; (2) Account Name: UBE Matching Grant Account; Account No: 0031151473; amount N2, 101,864,766.68; (3) Account Name: UBE Matching Grant Account; Account No: 0023484282; amount N1, 614,405,750.64; (4) Account Name: 2012 MDG Account; Account No: 0029605487; amount N191, 463,796.49.
The rest are: (5) Account Name: Ministry of Education Account; Account No: 0036410070; amount N536, 385,407.85; and (6) Account Name: Anambra State Subsidy Account; Account No: 0026290200; amount N5, 126,258,908.72.

Total Cash Balance in Diamond Bank PLC as of 17th March 2014: N12,846,733,120.8 (Twelve Billion, Eight Hundred & Forty Six Million, Seven Hundred & Thirty-Three Thousand, One Hundred & Twenty Naira, Eight Kobo)

C. Enterprise Bank (now Heritage Bank):
(1) Account Name:  Anambra State Local Govt.  Education Set Aside Account; Account No 1400034787, amount is N189,990,550; (2) Account name is Ministry of Youth and Sports Account; Account No is 1400036145, amount is N567,904,301.24; (3) Account Name: Permanent Secretary Govt. House, Awka, Account; Account No is 1400036138, Amount is N1,928,596,191.25.

Total Cash Balance in Enterprise (now Heritage Bank) as of 17th March 2014:N2, 686,491,042.49 (Two Billion, Six Hundred and Eighty-Six Million, Four Hundred and Ninety-one thousand, Forty-two hundred and forty-nine kobo)

D. Cash left in the State’s Accountant General’s Payment Accounts as at 17th of March 2014 comprising: FAAC (federal allocations), VAT (federal Value Added Tax) and IGR (internally generated revenues) funds are the following: (1) FAAC Statutory Account in Fidelity Bank PLC (Account No. 5030026223); (2) VAT (FAAC) in Fidelity Bank PLC (Account No. 5030026230) and (3) IGR Main Account in Awka Branch of UBA PLC (Account No. 1006437348); totaling N5, 372,730,886.06 (Five Billion, Three Hundred & Seventy Two Million, Seven Hundred & Thirty Thousand, Eight Hundred & Eighty Six Naira, Six Kobo).

E. First Bank:
1. Name of Account: Anambra State Govt. Consolidated Account; Account No: 2018779464; amount is N2, 139,951,400.00 (from where the garnishee order of the Federal High Court authorizing the seizure and transfer of N1.8Billion to liquidate the unpaid arrears of the State Water Corporation in 2014 was effected).

Total Cash Balance in First Bank PLC as of 17th March 2014: N2,139,951,400.00 (Two Billion, One Hundred & Thirty Nine Million, Nine Hundred & Fifty-One Thousand, Four Hundred Naira)

F.As at March 17th 2014:
(i)  Cash Balance in Fidelity Bank PLC: N18, 435,518, 504.3
(ii) Cash Balance in Diamond Bank PLC: N12, 846,733,120.8
(iii) Cash Balance in Enterprise Bank PLC (now Heritage Bank): N2, 686,491,042.49
(iv) Cash Balance in United Bank for Africa (UBA) PLC: N5, 372,730,886.06
(v) Cash Balance in First Bank PLC: N 2,139,951,400.00

Grand Total Cash Balances: N41, 481,424,954.15 (Forty-One Billion, Four Hundred and Eighty-One Million, Four Hundred and Twenty-four Thousand, Nine Hundred and Fifty-Four Thousand, Fifteen Kobo).

Foreign Currency Bond Investments:
A.  Fidelity Bank PLC (via a letter from the Bank to the then Accountant General of Anambra State, dated 5th March 2014 in response to the AG’s earlier letter referenced: AG/AN/S.500/VOL.111/54). Total dollar bond purchased: $55,202,776.83.

B.  Diamond Bank PLC (via a letter from the Bank to the then AG, dated 10th February 2014  in response to the AG’s earlier letter dated 31st October 2013 and referenced: AG/AN/ S.500/VOL.111/17). Total dollar bond purchased: $50,000,000.00.

C.  Access Bank PLC (via letter from the Bank to the then Accountant General of Anambra State, dated 31st January 2014 confirming purchase of dollar bond by the Government of Anambra State in November 2013). Total dollar bond purchased: $49,966,504.08.

Total Dollar Bonds Purchased from the three Banks: $155,486,125 (One Hundred & Fifty-Five Million, Four Hundred & Eighty-Six Thousand, One Hundred & Twenty-Five Dollars) or N26, 500,000,000 (Twenty-Six Billion, Five Hundred Million Naira).

Current  or November 2015 Value of the dollar bonds: $176, 804, 343.64 (One Hundred & Seventy-Six Million, Eight Hundred & Four Thousand, Three Hundred & Forty-Three Dollar, Sixty-Four Cents).

Accrued Interests (2014-2015): $21, 318, 217.74 (Twenty-One Million, Three Hundred & Eighteen Thousand, Two Hundred & Seventeen Dollar, Seventy-Four Cents) or N8, 86Billion.

       Local Investments:
(1)   Nigerian Independent Power Project (NIPP):N9Billion or $58Million (current value worked by experts:N11.6Billion) ;(2) Orient Petroleum:N4Billion; (3) Onitsha Hotel:N1Billion (said to have sold after the exit of the Obi administration); (4) Agulu Lake Hotel:N1Billion; (5) Awka Shopping Mall:N900Million; (6) Nnewi Shopping Mall:N600Million; (7) Onitsha Shopping Mall:N1Billion; (8) Intafact Beverages Limited ( makers of Hero Beer): N3.5Billion with additional investment of $10M (current value by experts:N14Billion); (9) Onitsha Business Park 1:N300Million; (10) Onitsha Business Park 11:N300Million; (11) Anambra State Independent Generating Plant (ASIPGCL):N400Million or $2.5Million.

Others are: (12) E-Force Limited:N126Million; (13) Emenite Limited:N750Million with     additional N223Million investment; (14) Quoted Investment Portfolio: N350Million; (15) NSIA-Anambra State contribution (State &LGA):N1.5Billion; (16) Investment with Bank of Industry to support SMEs in Anambra:N500Million; (17) Investment with Bank of Industry to support Micro Credit Bank in Anambra:N500Million (to be recovered in full); (18) Investment with Bank of Agriculture to support credit to Anambra farmers: N480M (to be recovered in full); (19) Commercial Agriculture Scheme N1Billion.

Total Cash Value of Local Investments as at 17th March 2014:N27.2Billion

Total Cash Value of Local Investment as of November 2015: N40.9Billion (surplus of N13.7Billion)

Total Cash Value of Foreign Currency Bond Investments as at 17th March 2014:$155,48Million or N26.5Billion

Total Value of Foreign Currency (Dollar) Bond Investments (in Diamond, Fidelity & Access Banks) as of November 2015:N35.36Billion or $176.8Million (surplus of N8.8Billion).

Total Cash left in the MDAs accounts in the above named commercial banks as at 17th March 2014: N41, 481,424,954.15 or N41.48Billion

A: Grand Total Value of Local Investments, Foreign Currency Bond Investments & Cash left in the above named commercial banks as of 17th March 2014:N95.18Billion

B: Total Value of the above named Local Investments, MDAs Cash left in the above named Commercial Banks and the Foreign Currency (Dollar) Bond Investments in Diamond, Fidelity & Access Banks as of November  2015:N117,748, 293, 682.80(One Hundred & Seventeen Billion, Seven Hundred & Forty-Eight Million, Two Hundred & Ninety-Three Thousand, Six Hundred & Eighty-Two Naira, Eighty Kobo).

That is to say that the Peter Obi administration left a total cash and investment of N95.18Billion for Anambra State as at 17th of March 2014, with their current value hitting N117.74Billion as of November 2015 or with a surplus of N22.56Billion.

Note: All the investments are recoverable and exclude over N20B refundable cash spent by the Obi administration in reconstructing some federal roads in the State, out of which over N14B had been approved for refund by the Federal Government as at 2014.

Singed:

For: Intersociety & Anambra CLO

Emeka Umeagbalasi
Board Chairman
International Society for Civil Liberties & the Rule of Law
+2348174090052

Obianuju Igboeli, Esq.
Head, Civil Liberties & Rule of Law Program of Intersociety


Comrade Aloysius Attah
Chairman
Anambra State Branch of the Civil Liberties Organization
+2348035090548

Comrade Chibueze Nwajiaku

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