Adamawa received N21 bn in three months, I left N700m — Fintiri

Acting Governor Of Adamawa state, Ahmed Fintiri

The sacked Acting Governor of Adamawa State, Umaru Fintiri, has denied plundering the state to the tune of N18billion, as alleged by those he described as detractors and political foes.

Mr. Fintiri, who addressed a press conference Tuesday evening in Yola, said his administration had an income of over N21 billion in his three-month tenure, out of which N20 billion was expended.

Mr. Fintiri said he left over N708 million in the state coffers, and insisted that he followed due process in the award of contracts for projects during the period of his stay as acting governor.

There have been unsubstantiated reports that the former acting governor squandered billions of state funds.

Mr. Fintiri said when he assumed leadership of the state, the financial position of the state was poor due to high level of indebtedness.

He claimed within the roughly 90 days he introduced measures that saved the state economy from an imminent collapse.

At the time he took charge, the state owed liquid cash of over N12.8 billion to a bank, and for over three years the state government paid salaries through overdraft, the former acting governor, who is now the speaker of the House of Assembly, said.

“The monthly interest on overdraft dropped from N100m monthly to zero naira ,the repayment of term loan also dropped from N1 Billion to N311 m monthly and the repayment of overdraft dropped from N3.5 billion zero naira,” he said.

“The state was paying about N100 million monthly as interest on overdraft, term loan repayments of about N1Billion monthly ,and overdraft repayment of N3.5 billion monthly.”

He alleged that the state was made vulnerable to exploitation by the bank.

“Furthermore, it has been established that the bank charged the account of the state by over N11 Billion in interest and other charges, “he said.

Mr. Fintiri also said the state lost an estimated N7billion in bank charges alone.

He said on assumption of office, the administration the services of professionals who helped saved the state from drowning in debt and brought about financial stability.

He listed a few of the expenditures incurred to include N500m as constituency projects, N539m counterpart funding, and N247m as vehicles allowances among many others.


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  • Ashibogu

    The guy shared N500M to his colleagues in the House for Constituency
    Projects. Little wonder they wanted him to continue. By the time you add allocations to the House only God knows how much it will come to. Hmm, there is God o!

  • Jika Ahmad

    This Guy appears to be a smart crook. How else can one describe a person who can spend such a collosal sum of money in a short stay in Government House? We are indeed in trouble in this Country woo!

  • Spoken word

    Chai.barawo.

  • Enemona

    This is so sad. It is obvious this guy siphoned the state fund hence the emphasis on how much he saved from overdraft charges and other interest charges and nothing about how he spent the 21 billion in about 90 days. He only said he followed due process in awarding contracts. He should come clean by publishing what projects he has awarded in the 90 days. I think we need to ask state governments to publish their financial statements on monthly basis and detailed ones every quarter with full disclosure of expenditures on projects. Financial probity is dead, we need someone to revive it.

  • yemi

    Very good and very true

  • Aboutsomthing

    How is this not a public distributed article for all Nigeria Youth. This is the hard bitter truth that we cannot swallow but we must or else we wont be cured.

  • ezedi

    This is the kind of discourse we need in this country! We have governors that are over 70yrs old, a president that’s 72 yrs old etc. until the youth revolts in this country nothing will ever change no matter how much “change” or “transformation” this APC or PDP frauds espouse!