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Okorocha indicted in misappropriation of N6bn oil community fund

Former Governor of Imo State, Rochas Okorocha has been indicted in an alleged misappropriation of N6, 044, 774, 341. 37 allocated to the Imo State Oil Producing Area Development Commission (ISOPADEC) in a report released by a committee set up by Governor Emeka Ihedioha to investigate the activities of the commission. 

Some of the allegation against Okorocha include arbitrarily releasing part of the fund for purchase of vehicles and transformers for political campaigns as well as diverting bailout funds to the commission, Paris Club refund, the local government joint labour salary/pension, the Secondary Education Management Board account, among others.

Speaking at the presentation of the report to Governor Ihedioha, the committee’s chairman Romanus Ezeogu said:

“The administration of Rochas Okorocha handled the funds of ISOPADEC within his eight years tenure from the pit of wickedness. The short-fall in revenue accrual from the Federation Account; uncounted for stood at N6, 044, 774, 341. 37.”

Chike Okafor and Paschal Obi, the House of Representatives members representing Okigwe South and Ideato South federal constituencies were also accused of being involved in the misappropriation of ISOPADEC funds.

Receiving the report, Governor Ihedioha stated that his administration will work towards due process, accountability and transparency.

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