Imo Panel Indicts Okorocha Over N6 Billion Oil Community Fund

The Committee set up by Governor Emeka Ihedioha to investigate the activities of the Imo State Oil Producing Area Development Commission, ISOPADEC, from May 2011 to May, 2019 has indicted the immediate past Governor of the State, Rochas Okorocha, over alleged misappropriation of N6, 044, 774, 341. 37 allocated to the Commission.

Presenting the report to the Governor in Owerri, the Committee’s Chairman, Romanus Ezeogu, said: “The administration of Rochas Okorocha handled the funds of ISOPADEC within his eight years tenure from the pit of wickedness. The short-fall in revenue accrual from the Federation Account; uncounted for stood at N6, 044, 774, 341. 37”.

The Committee also accused Okorocha of arbitrarily releasing part of the fund for purchase of vehicles and transformers for political campaigns as well as diverting over N311 billion accrual to the Commission from bailout fund, Paris Club refund, the Local Government joint labour salary/pension, the Secondary Education Management Board account, among others.

It also accused Chike Okafor and Paschal Obi, members representing Okigwe South and Ideato South at the House of Representatives of alleged involvement in the misappropriation of the ISOPADEC funds.

In his response, Ihedioha reiterated the commitment of his administration towards due process, accountability and transparency.