KPMG Figures and Process Review: The N76 Billion Allocated to Trackcare is Totally False - Oriaku | #NwokeukwuMascot

 News 

 File Image 

In a detailed response to the recent KPMG report, former Abia State Commissioner for Finance, Mr. Obinna Oriaku, has challenged the accuracy of the figures, particularly the claim that N76 billion was allocated to Trackcare.

Oriaku, who served as Commissioner from 2015 to 2019, expressed concerns over the inaccuracies in the report. "I have tried to ignore this observation to avoid being tagged a supporter of those that looted our treasury," he stated. However, he felt compelled to speak out against what he knows to be untrue, despite the risk of holding an unpopular position.

"KPMG is not infallible," Oriaku remarked, noting that the firm itself included a caveat warning that its findings were not conclusive and should not serve as a basis for judgment. He highlighted the volatile nature of Abia's political landscape, where negative stories gain traction faster than positive ones, creating a charged atmosphere akin to an election period.

The review, according to Oriaku, identified procedural irregularities, which are common in government operations. He acknowledged the value of the report as a guide for the current administration on managing government transactions but disputed the financial figures presented.

"The N76 billion allocated to Trackcare is mind-blowing and totally false," Oriaku asserted. He questioned how the government could have had such funds, given that the primary sources of financing were federal allocations and commercial bank loans, with the state's Internally Generated Revenue (IGR) still low. "At what point did the government have such funds that N76 billion was paid to one contractor?" he asked, calling the figure misleading and wrong.

Oriaku pointed out that KPMG did not verify these figures, nor did they ask questions or seek explanations from officials who had already been dismissed. He challenged the basis of their calculations and whether the figures were actual or derived from the Financial and General Purpose Committee (F&GPC).

Despite the risk of being labeled, Oriaku maintained his stance. "I still maintain there were financial infractions in the government and they should be investigated. However, these figures being thrown up are totally wrong," he said. He invited anyone to scrutinize Trackcare's receipts over eight years, asserting that the total would not exceed N18 billion.

 Photo: Track Care Ignitia on the reconstructed Azikiwe Road Aba .

Furthermore, Oriaku highlighted that some contractors who completed verifiable jobs remain unpaid, questioning the origins of KPMG's summations. He emphasized that Trackcare was never the top contractor in Abia, typically managing two sites simultaneously, whereas other contractors with four functional sites received lower payments.

In conclusion, Oriaku urged caution. "Believe these figures at your own peril," he warned, insisting that the reported N76 billion allocated to Trackcare was a gross exaggeration.