PMB had unfolded modalities for reimbursing states of the N522.74 billion over-deduction on foreign loans. Rochas got a chunk of that money.
The monies are to be paid in batches, with the first batch of N153.01 billion currently being processed for release.
14 States will benefit from the largess and Governor Rochas’ Imo State is a beneficiary.
The deductions were in respect international loans of the federal and state governments between 1995 and 2002.
Recall that an agreement was reached by OBJ’s administration with the Paris Club in October 2005 for debt relief.
Some state governments had already been overcharged.
Some states had submitted requests to FG for the refund of amounts deducted from their monthly allocations.
President Buhari directed the Debt Management Office to verify the claims based on available records.
A Federal Ministry of Finance’ statement confirmed the commencement of work to reconcile each state government’s claim.
“The exercise expected to take approximately 12 months, will be thorough.
“It will include a complete reconstruction of records dating back to the period in question”, the ministry of finance said.
The President ordered the release of the funds seeing that most States owed their workers’ salaries, Imo State inclusive.
It was agreed that states would use the funds to pay salaries, pensions, and other outstanding debts.
Governor Rochas Okorocha received the money, went back to Imo State and concocted an evil plan.
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Here was his plan: He drafted a letter for all state pensioners to which they must sign.
In the letter, Okorocha forced State pensioners to sign that he will pay them 40% of their pension and that that would be all.
Meanwhile, the pension had been owed them for 13 straight months.
Please see the wicked letter Okorocha made all pensioners in his state to sign.