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The Rivers FAAC allocations under sole administrator Dino Ibas are facing intense scrutiny as the Rivers State House of Assembly launches a probe into state expenditures during the six-month emergency rule. The probe centers on whether over ₦254.37 billion received through FAAC from March to August 2025 was properly accounted for under the rule of Vice Admiral Ibok-Ete Ibas (retd.).
The probe follows the end of emergency rule on September 17, 2025, when President Bola Tinubu ordered that suspended Governor Siminalayi Fubara, his deputy, and members of the State House of Assembly return to office. During its first plenary session after this transition, the Assembly, led by Speaker Martin Amaewhule, resolved to investigate how funds were disbursed from the consolidated revenue fund — especially funds allocated for contracts and other expenditures.
According to documents obtained by The PUNCH, Rivers State received ₦254.37 billion in FAAC allocations during the emergency administration from March through August 2025. In detail, the monthly receipts:
If September follows pattern, inflows could reach nearly ₦297 billion in seven months.
A breakdown reveals that derivation payments (13 per cent oil revenue share) accounted for ₦133.24 billion—about 52.4% of total FAAC allocations. Statutory allocations in those months, in comparison, were significantly smaller. For example, in May derivation was ₦25.70 billion vs statutory allocation of ₦6.05bn.
However, substantial deductions were made for external debt servicing—totalling ₦26.31 billion across March through August. VAT receipts added relief, contributing ₦107.78 billion (42.4%) of the net allocation during the period.
Despite these large sums, Rivers State has not published its 2025 Budget Implementation Report, which is legally required to show how revenues—including FAAC inflows—were spent. This absence leaves many citizens and civil society organisations in the dark about how much was used on salaries, infrastructure, or recurrent vs capital projects.
Civil Society Organisations, including the Coalition of Civil Society Organisations in Rivers and the Civil Liberties Organisation, have demanded full transparency, calling the emergency administration “illegal” and insisting that the state government must set up a panel of inquiry to account for both FAAC receipts and internally generated revenue.
In response, the former administrator’s aides argue that the lawmakers do not have authority over his appointment, since he was appointed by the President, not the State Assembly. In the words of Ibas’ representative, “Was it the Assembly that appointed the administrator? … the administrator acted for and on behalf of the President.”
As Rivers returns to civil rule, the spotlight on the Rivers FAAC allocations under sole administrator grows ever brighter, with many residents demanding that accountability begin now, not later.
“To explore the process of knowing what transpired during the emergency rule with regard to spending from the consolidated revenue fund for the award of contracts and other expenditure.” – Rivers State House of Assembly resolution
“We will be calling on the Rivers State Governor to set up a panel of inquiry … because almost all the major projects are stalled, even the House of Assembly Complex … whoever spends public money without accounting for it will pay for it … We are not just going to rest.” – Enefaa Georgewill, Civil Society leader
“When you say they are going to probe the tenure of the administrator, was it the Assembly that appointed the administrator? … So, I wish them good luck with their plan … such an enterprise amounts to a fool’s errand.” – Ibas’ Senior Special Adviser
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