Erosion of Trust Deepens in Abia as Governor Otti Contradicts Administration’s Earlier Claim on ENASCO Ownership | #NwokeukwuMascot

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A fresh wave of controversy has erupted in Abia State following a press release issued by the state government announcing the revocation of the land title and reclamation of assets belonging to the Enyimba Automated Shoe Company (ENASCO) in Aba. The decision, which came through the Chief Press Secretary to the Governor, Mr. Ukoha Njoku Ukoha, has once again cast doubts on the transparency and consistency of Governor Alex Otti’s administration.




While the state government cited financial irregularities and governance failures as justification for its move, the opposition People’s Democratic Party (PDP) in the state has swiftly responded, describing the development as a deliberate distraction tactic aimed at diverting public attention from the imminent release of the Q1 2025 SEFTAS (State Fiscal Transparency, Accountability and Sustainability) report, which they claim will expose a trail of massive looting and abuse of public funds under the current government.





According to the state’s press release titled “Abia State Government Revokes Land Title and Reclaims Assets of the Enyimba Automated Shoe Company (ENASCO)”, the decision was based on the findings of a comprehensive financial and operational audit conducted by a top-tier professional services firm.




The review uncovered several troubling discrepancies, including:



• Absence of Abia State Government’s name in ENASCO’s shareholding records despite contributing over 70% of the startup capital through land, infrastructure, equipment, and cash

• Accumulated retained losses of over N115.7 million by October 2024

• Improper use of N97.7 million from shareholder deposits with no clear documentation

• Absence of a corporate governance framework, statutory audits, and tax compliance




The state government claimed that despite its substantial contributions to ENASCO, the company’s Corporate Affairs Commission (CAC) filings as of April 2025 show no government representation. The listed shareholders include:



• Nwakile John Chidi – 445,900 shares

• Udeagbala John Chinyelu – 219,600 shares

• Nwaogu Chinenye – 111,500 shares

• Sam Hart – 111,500 shares

• Macauley Atasie – 111,500 shares




The government said this structure demonstrated “a clear intention to covet and misappropriate government investment and assets.”




Following a failed stakeholders’ meeting on April 23, 2025—where existing shareholders reportedly resisted calls to restructure the ownership or include the state on the board—the government resolved to:

1. Revoke ENASCO’s land title

2. Reclaim all physical assets contributed by the state

3. Pursue legal action to recover any misappropriated public funds


The statement emphasized the administration’s commitment to accountability and the protection of public resources, warning that no individual or group would be allowed to hijack state investments.



However, this announcement has not gone uncontested. Critics point to a statement issued in July 2024 by Governor Otti’s own Special Adviser on Media and Publicity, Ferdinand Ekeoma, who affirmed that the Abia State Government owned 27% equity in ENASCO.




In that statement, made in response to a post by former Governor Ikpeazu’s aide, Onyebuchi Ememanka, Ekeoma wrote:




“The Enyimba Automated Shoe Company (ENASCO) is jointly owned by private investors and Abia State Government. While the investors own 73% equity, Abia State Government owns 27%, according to documents available to us.”



He further outlined the equity distribution as:


Abia State Government – 27%

Chinenye Nwogu – 8%

Sam Hart – 8%

Macauley Atasie – 8%

John Udeagbala – 16%

Chidi Nwaike – 33%


This revelation has cast serious doubt on the current government’s claim that the state had “no stake” in the company, with many questioning whether the revocation and public outrage are genuinely about transparency—or part of a larger political game plan.



In a swift reaction, the opposition PDP described the state government’s latest announcement as “a poorly scripted drama designed to divert public attention” from the soon-to-be-released 2025 Q1 SEFTAS report. According to the party, they have credible evidence suggesting that the report—compiled under the World Bank-backed transparency initiative—contains damning revelations of unprecedented looting, opaque procurements, and fiscal recklessness under Governor Otti’s leadership.




Speaking anonymously, a senior PDP official alleged: “The ENASCO story is nothing but a smokescreen. The timing is suspicious. Just days before the Q1 SEFTAS report goes public, they’re staging this drama to preempt the backlash from what will undoubtedly expose how state resources have been plundered since Governor Otti took over. The people of Abia deserve better than this propaganda parade.”



The party insists that the administration is desperately seeking to deflect attention from serious questions about its own fiscal conduct, especially regarding opaque security spending, inflated contract sums, and unexplained withdrawals from state accounts.




Amid the conflicting narratives, many Abians are now left confused and disappointed. What began as a promise of transparent governance appears, to some, to be unravelling under the weight of contradictions and alleged cover-ups.




The questions now dominating public discourse are: What is the real truth about ENASCO’s ownership? Why does the government now claim it owns nothing in a company it previously acknowledged owning 27% of? And what exactly is hidden in the 2025 SEFTAS Q1 report that has prompted such dramatic distractions?




As anticipation builds around the release of the SEFTAS fiscal report, one thing is clear—trust in Governor Otti’s administration is under serious strain, and only full disclosure will suffice to restore the confidence of the people.



#ENASCOScandal #AbiaPolitics #GovernorOtti #SEFTAS2025 #AbiaState #PublicFunds #Accountability #NwokeukwuMascot #PDPvsLP #TransparencyMatters #LootingAllegations



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