Abia: KPMG Audit Exposes Gov. Otti's Claims of meeting an Empty Treasury(Document) | #NwokeukwuMascot

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 How Abia KPMG Audit Exposed Gov Otti’s Lies of Meeting an Empty treasurer | #NwokeukwuMascot

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In a surprising revelation, the KPMG process report commissioned by Governor Alex Otti has contradicted his administration's claims of inheriting an empty treasury from the previous government. The audit report disclosed that the former administration left a credit balance of ₦3.4 billion.


Governor Otti had previously asserted,in a press statement jointly signed by Ferdinand Ekeoma (Special Adviser on Media and Publicity), Kazie Uko (Chief Press Secretary), Mike Akpara (Adviser on Finance), and Njum Onyemenam (Accountant General of Abia State), that his predecessor, Dr. Okezie Victor Ikpeazu, left the state with an empty treasury.

However, the forensic audit by KPMG, specifically on page 29 under section 2.2.2 titled "Bank Balances as at 28 May 2023," indicates otherwise. The report confirmed that on assuming office on May 29, 2023, Governor Otti inherited a sum of ₦3,495,207,127.14.


The report stated, “During the period from 29 May 2015 to 28 May 2023, ABSG maintained 78 bank accounts with 14 of the 35 circularised banks, with a net credit balance of ₦3,495,207,127.14 as at 28 May 2023.”

 KPMG Document  

This isn't the first instance of discrepancies in Otti's statements regarding his predecessor's financial management. His administration previously disputed the $3.8 million equity investment left by Ikpeazu's administration in the Geometric Power Project, before eventually acknowledging it.


The findings from the KPMG audit call into question the accuracy of the financial situation presented by Governor Otti and suggest a need for greater transparency and accountability in his administration's communications.

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