Governor Akpabio, who accented to the bill at Governor’s Office, Uyo, said: “The essence of the law is to streamline and avoid excesses of finances and to be prudent in the management of our resources.
“The Constitution has empowered us to make laws. So, we have today made the pension law for ex-governors and ex-deputy governors.
“This law was made in 2000. It was amended in 2006 and is now amended again in 2014. The essence of this amendment was because staff such as cooks, drivers, among others were hired by the ex-governors and ex-deputy governors with a non-financial benchmark.
Breakdown of the Pension Law
“All staff of the ex-governors should not earn more than N5 million annually and all staff of the ex-deputy governors should not earn more than N2 million annually.
“No ex-governor can spend more than N100 million in a year for medical expenses and no ex- deputy governor can spend more than N50 million for medical expenses, because we are making sure that we cover all the loopholes of financial wastage.
“Widows of ex-governors will receive a minimum of N1 million monthly for medical expenses and N500,000 medical expenses for the widows of ex-deputy governors.”
“Under the proposed law, Mr. Akpabio and others listed in Section 1(1) are entitled to a monthly pension for life at the rate equivalent to his current salary.
Similarly, the serving deputy governor, Valerie Ebe, is entitled to a monthly pension for life at the rate of her current salary.
* Mr. Akpabio and his deputy; Mrs. Ebe will therefore pocket a total of N2, 223, 705. 00; and N2, 112, 215, 00 respectively as monthly and a total of N26, 684, 460,00 and N25, 346, 580 respectively as pension, per annum.
* Akwa Ibom taxpayers are also expected to provide an amount not exceeding N5 million or an equivalent of $50,000.00 monthly for Mr. Akpabio to engage the services of a cook, chauffeurs and security guards.
* However, the deputy governor is entitled to N2million naira or an equivalent of $20,000.00 monthly allowance to hire cooks, chauffeurs and security guards.
* Mr. Akpabio and his spouse are to also access free medical services at a sum not exceeding N100 million or an equivalent of $600,000.00, while the deputy and her spouse will pocket N30 million or an equivalent of $200,000.00, annually.
Akpabio hinted that the law also covers those who served in the old Cross River State, adding that the law was to streamline and to bring sanity into state finances, which he said had been misinterpreted by the public and resulted to a lot of bashing in the social media.
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