[For the Records]: Summary of Edo State Asset Verification Committee findings on the Godwin Obaseki administration

Massive Debt Increase:

Edo’s debt skyrocketed by over 900%, from ₦84 billion (2016) to ₦682 billion (2024).

Fraudulent MoUs:

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The administration was known for shady agreements with no real development.

Radisson Hotel Scam:

₦19 billion spent on construction by the state, but 80% ownership was handed to a private company (Tribury House Ltd) founded in 2024 without financial commitment.

Stella Obasanjo Hospital:

₦967 million paid to Tanit Engineering just for supervision, with only one company allowed to bid.

EdoBEST Educational Fraud:

World Bank released $75 million for education reforms. However, only $5 million was remitted to SUBEB, meaning $70 million remains unaccounted for.

Central Hospital Demolition:*l

₦5 billion worth of public property destroyed and converted to a private museum, MOWAA, with Edo having no equity despite contributing billions and plots of land.

Road Construction Scam:

Kilometers of roads were inflated, and contractors were paid in violation of procurement laws.

Consultancy Fraud:

Greenfield Consultancy was used to sideline civil servants, leading to the collapse of state agencies like Edo Broadcasting Service, Nigerian Observer, and Edo Line.

Afri-Invest alleged Corruption:

Obaseki’s private company, Afri-Invest, allegedly siphoned public funds through inflated projects.

Illegal Transfer of State Assets:

Government buildings and infrastructure were transferred to private hands without records of payment.

Institutionalized Corruption:

Consultants were awarded contracts without oversight, leading to massive looting.

Looting in Secret:

Financial dealings were deliberately hidden from public scrutiny.

List of allegedly diverted Funds

₦19 billion – Radisson Hotel

₦967 million – Stella Obasanjo Hospital “supervision” scam

$70 million (₦105 billion) – Missing World Bank education funds