Edo State Government has accused former Governor Godwin Obaseki of alleged financial misconduct, particularly over the Radisson Hotel project in Benin City.
Gatekeepers News reports that in a statement on Saturday by Commissioner for Information and Strategy, Kassim Afegbua, the Okpebholo administration said public funds committed under the previous administration must be fully accounted for.
The government said the opposition Peoples Democratic Party (PDP) had resorted to misinformation and distortion in an attempt to deflect attention from alleged financial improprieties.
Afegbua said, “Facts are sacred, they cannot be contradicted; and no amount of scapegoating and blackmail can fault the facts we have established concerning MOWAA and the RADISSON Hotel in Benin City.”
He alleged that the Radisson Hotel project followed a pattern of “profligacy, fraud, malfeasance, predatory and dubious control” during Obaseki’s eight years in office, adding that there was “no transparency, no probity, and no accountability” in the handling of the project.
According to the commissioner, Edo State Government raised ₦25 billion from the stock market in the name of the state to fund the hotel project, only for the state to end up with a minority stake.
Afegbua said, “He took N25b naira from the stock market, in the name of the Edo State Government, invested same in a legacy project, and midstream, invited a brand new investor to purchase the project, and then ceded only 20% equity to the state that had expended N25b on the project.”
“ Till date, no record of this investor ploughing money into the project to warrant his 80% equity ab initio,” noting that Edo State was still servicing the loan. “The N25b sourced from the Stock Market is still being paid through an Irrevocable Standing Payment Order of N385m monthly by Edo state Government.”
He further claimed that the investor allegedly acquired the 80 per cent equity without any competitive bidding process, questioning the transaction.
Afegbua said, “They did not go through any competitive bidding to acquire a whooping 80% of that hotel pronto. Hmm, what manner of financial wizardry is that?”
The commissioner stressed that ownership of the Radisson Hotel remains with the state government. He said, “The Radisson Hotel remains that of the Edo state government. Every kobo of Edo taxpayers money spent and invested in the project would be accounted for.”
On the Ossiomo Power Plant, Afegbua said the Edo State Government had no stake in the facility, explaining that the current administration only changed its energy consumption pattern to reduce costs.
He said, “What we did was to remove our consumption from Ossiomo power plant by installing a more user-friendly solar power plant in government house, and through BEDC services.”
He said investigations into the Obaseki administration were ongoing and disclosed plans to involve anti-graft agencies. Afegbua said, “Once the investigations are concluded, the state government will formally submit a petition to the EFCC to bring Godwin Obaseki to book.”
Afegbua also urged the former Governor to submit himself to investigation, adding, “Those who are guiltless should not be afraid of probe and investigation. We may not possess the financial wizardry of hiding figures, but we know the devil in the details when we see them.”
