Okpebholo Receives Report Of Asset Verification Committee [See Details]

The Assets Verification Committee tasked with assessing government assets and liabilities under the previous government in Edo State has presented their findings to Governor Monday Okpebholo.

While commending the committee for their dedication and efforts toward the task, Governor Okpebholo assured that his administration will implement their findings and recommendations.

Receiving the committee’s report at the Government House in Benin City, Governor Okpebholo reiterated his administration’s commitment to addressing the issues raised, stressing that it would act decisively to strengthen governance and ensure responsible management of state resources.

“I appreciate the committee for a job well done and the time invested in this exercise. I understand the challenges you faced, yet you successfully carried out this crucial assignment. Rest assured that your findings and recommendations will be implemented appropriately,” the Governor stated in a statement made available to Henzodaily on Wednesday through the Chief Press Secretary to Edo State, Fred Itua.

Presenting the report, the committee’s chairman, Dr. Ernest Afolabi Umakhihe, emphasized that the findings were not just a reflection of past actions but a call to action for the future.

“This report serves as a pivotal moment for Edo State, marking the need to take stock of our current position and chart a course toward greater accountability, financial prudence, and responsible asset management,” Umakhihe stated.

The committee’s efforts encompassed several weeks of meticulous research, site evaluations, stakeholder interactions, and rigorous verification processes to guarantee transparency in managing the state’s assets and liabilities.

The report offers an in-depth analysis of Edo State’s assets and liabilities, detailing outstanding debts, contractual responsibilities, and financial obligations. Dr. Umakhihe expressed concerns regarding mismanagement, inappropriate resource allocation, and the improper use of consultants within government operations, which have fostered conditions conducive to corruption and misuse.

“One of the critical aspects of this report is the revelation of significant financial obligations left behind by the previous administration, some of which pose a heavy burden on the state’s fiscal health. These liabilities, including outstanding debts and contracts, require urgent attention and strategic management,” he explained.

The committee advised a reassessment of specific government contracts and agreements, highlighting the necessity to confirm that they are in accordance with the best interests of Edo State.

Umakhihe further disclosed that throughout their inquiry, the committee discovered indications of financial impropriety, mismanagement, and potential corruption.

“In light of these findings, we strongly recommend that the relevant authorities launch further investigations to hold those responsible accountable. Prosecuting individuals found culpable will send a strong message that Edo State is committed to integrity and transparency in governance,” he stated.

The report further recommends a reassessment of government contracts, leases, and tenancy agreements to guarantee equity and economic benefit for the state.

Moreover, the committee urged the government to investigate corporate entities that may possess ambiguous ownership structures associated with previous administrations.

“As we submit this report, we do so with the firm belief that its recommendations will serve as a guide toward a more transparent, accountable, and prosperous Edo State,” Umakhihe concluded.