Geometric Power Project: Ikpeazu, Otti Govt At Loggerhead Over Alleged $5m Investment

Date: 04-03-2024 9:09 am (1 month ago) | Author: onuigbo felicia
- at 4-03-2024 09:09 AM (1 month ago)
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The media space in Abia State has become embroiled in a heated verbal exchange between supporters of former Governor Okezie Ikpeazu and those of the current Governor, Alex Otti, following the commissioning of Geometric Power in Osisioma by President Bola Tinubu. The focal point of contention is the purported 5% stake acquired by the Ikpeazu administration in Geometrics Power on behalf of the Abia State government.

According to allies of Ikpeazu, including John Okiyi Kalu, Onyebuchi Ememanka, Enyinnaya Appolos, Chinonye Mba, and Don Ubani, the Otti administration should acknowledge and confirm this investment. They assert that during Ikpeazu's tenure, the state government acquired a 5% stake in Geometrics worth $5 million, with a significant portion of the payment already made.

Furthermore, they criticize the current administration and Professor Barth Nnaji, the Chairman of Geometrics, for allegedly not acknowledging the role played by Ikpeazu's administration in the power project.

In response, media aides to Governor Alex Otti, including Ferdinand Ekeoma and Dodoh Okafor, dismiss the reported investments in Geometrics, stating that no documents regarding such investments were handed over to the present administration. Ekeoma accuses Ikpeazu's camp of orchestrating attacks against the current administration and dismisses their claims as "primitive propaganda."

Governor Otti himself, in an interview with Channels TV, acknowledges awareness of the ongoing media debate regarding the alleged 5% investment. While he confirms that Ikpeazu was involved in signing a loan agreement for Geometric, he states that there is no documentation to support the claimed 5% equity investment.

Otti directs his Commissioner for Finance and the Accountant General to investigate the matter further. He suggests that Geometric would be better positioned to provide specific details regarding the investment.

Overall, the dispute highlights the political tension surrounding past and present administrations in Abia State, with both sides engaging in a war of words over the purported investment in Geometric Power.

Posted: at 4-03-2024 09:09 AM (1 month ago) | Addicted Hero
- fineboy77 at 4-03-2024 10:06 AM (1 month ago)
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Okezie Ikpeazu  Grin Grin Grin Grin Grin. For those that dont understand Igbo, Ikpeazu means last, as in, behind, like, coming behind. That clown made Abia his circus, took us from where God positioned us in the alphabetical listing of Nigerian states to the very worst of states to see. He should hide under a rock, but if he insists on popping out his head, we may remember him one day. And that day, it will be better for him that EFCC catches him first.

Posted: at 4-03-2024 10:06 AM (1 month ago) | Addicted Hero
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- gogoman at 4-03-2024 11:07 AM (1 month ago)
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Quote from: fineboy77 on  4-03-2024 10:06 AM
Okezie Ikpeazu  Grin Grin Grin Grin Grin. For those that dont understand Igbo, Ikpeazu means last, as in, behind, like, coming behind. That clown made Abia his circus, took us from where God positioned us in the alphabetical listing of Nigerian states to the very worst of states to see. He should hide under a rock, but if he insists on popping out his head, we may remember him one day. And that day, it will be better for him that EFCC catches him first.


so you know na ur son dey chop una state money!! i thought na FG fault abi let na buhari fault..
Posted: at 4-03-2024 11:07 AM (1 month ago) | Grande Master
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