Imo Youths Insist Ihedioha Must Account For N3.5bn Loan Allegedly Obtained Without Approval

Emeka Ihedioha

Youths under the platform of the Global Association of Concerned Imo Youths (GACIY) are adamant that Chief Emeka Ihedioha, who governed Imo State between May 2019 and January 2020, must give an account of a N3.5bn loan allegedly obtained by his administration without the approval of the State’s House of Assembly.

The youths had in a statement last week signed by its convener, Collins Ughalaa, said that they uncovered the “top secret” loan which the Ihedioha administration allegedly secured.

In a swift response, the Ihedioha camp through a press release signed by Barr. Uche Onyeagucha, admitted that the Ihedioha administration initiated a move to obtain the loan facility but said that it followed due process.

Onyeagucha stated that a committee was set up to source the loan. However, he denied that it was paid before the administration was sacked by the Supreme Court on January 14, 2020.

In a counter statement on Monday, October 25th, 2021, GACIY wondered why the Ihedioha administration did not seek the approval of the State’s House of Assembly before seeking the loan.

The youths said that they can confirm that the sum was withdrawn by the Ihedioha regime which did not account for the money before it was dismissed by the court.

The statement read: “GACIY has noticed that after getting bent out of shape, Ihedioha’s handlers finally squared up to GACIY’s request to explain why that administration secretly yoked Imo to a bogus N3.5b loan. But to our surprise, Team Ihedioha through a statement signed by former SSG, Barrister Uche Onyeagucha, one of at least three captains during that regime, not only confirmed borrowing the said sum from a commercial bank, but boasted that it was approved by a mere committee of 8 stooges. What could be more irresponsible?

“As if it weren’t bad enough, Mr. Onyeagucha had the guts to perjure that the N3.5bn wasn’t cashed till that illegal administration was rightly removed by the Supreme Court four months after taking the loan. Such illogic, and he is supposed to be a lawyer?

“We can confirm not only the so-called rebuild Imo regime withdrew the sum, it also spent it all on spurious ‘judicial expenses’ trying to resuscitate its lifeless briefs at the courts, as well as shopping property for Emeka. If these men could borrow and splurge a whopping N3.5 billion using the name of Imo youths, and go on to capture community lands under some fictitious agricultural scheme, we wonder what else that administration could have done to betray Imo people. We also wonder why despite being an impulsive borrower, Ihedioha would sit idle while his hirelings insult Governor Hope Uzodimma for obtaining special facilities from the CBN.

“We had said that our expose of the “top secret” borrowing of N3.5b by the deposed Ihedioha regime stunned the entire rebuild Imo team. That was why they held an emergency meeting and summoned Mr. Onyeagucha to try to clean up the mess. But as they tried to clean up and cover tracks, they exposed themselves the more.

“By our expose we uncovered how reckless, lawless, dodgy, opaque the deposed Ihedioha regime was. Truly, Ihedioha ran Imo by committees, cult-like and like a mammy market. Otherwise, why did the illegal regime not seek the approval of the state assembly for the borrowing of a humongous N3.5bn, whereas the state assembly is the arm of government saddled with the responsibility of making appropriations? Why did the deposed Ihedioha regime resort to using a committee, according to their hitman, Mr. Onyeagucha? Why did they resort to using emergency exco meeting, that is, using 8 of Ihedioha’s stooges, to approve N3.5bn loan? The answer is that it was a top secret. And they also obtained the loan as a top secret.

“Imo people can now appreciate what God did on Tuesday, January 14, 2020 when Ihedioha was deposed and Distinguished Senator Hope Uzodimma installed as Governor, else Ihedioha could have sold Imo State 10 kobo.

“The confession from the rebuild Imo team is a start, but when Emeka is truly ready, he will:

“1) tender to Imo people an unreserved apology for running government like a mammy market while he held sway.

“2) apologize to his misguided followers for giving them the impression he was prudent with state resources.

“3) return all he illegally took from Imo people.

“4) turn himself over to the EFCC and other anti-graft bodies.”

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