INVESTIGATION: Akwa Ibom State Government Spends N114.5bn On Ghost Emergencies
By Ekemini Simon
The scrutiny of the financial statements of Akwa Ibom State between 2008 and 2023 has revealed questionable spending by the Government.
A careful examination of the financial reports from the office of the Accountant General and Budget office of the State for the last 16 years lay bare a revelation that an item tagged “Margin of Increased Cost/Emergency Provision” has served as an outlet to splurge public funds.
Besides the government being unable to provide evidence of what the billions of naira retired through this subhead was used for, there are no known items, programs, and projects that are attributed to the expenses or show value for the billions this budget line has gulped over the years.
The Genesis And Revelation Of Ghost Emergencies
Checks into the budgets and financial statements of the State show that budgeting and subsequent expenditure on this recurrent item “Margin of Increase Cost/Emergency Provision” in the fiscal life of Akwa Ibom State commenced in 2008.
