CHIEF IHEANYI CHINASAโs MISLEADING COMMENTS ON THE $263.8 MILLION LOAN FACILITY.
- Our NationNigeria
- Oct 13
- 3 min read
ONN Umuahia 13.10.2025
๐ฅ ๐๐ซ๐๐ฌ๐ฌ ๐๐๐ฅ๐๐๐ฌ๐ ๐๐ฒ ๐๐๐ข๐ ๐๐๐ ๐๐๐ง๐๐ข๐ฌ๐ฌ๐๐ง๐๐ ๐๐ซ๐จ๐ฎ๐ฉ
Re: Chief Iheanyi Chinasaโs Misleading Comments on the $263.8 Million Loan Facility
Our attention has been drawn to a recent statement credited to Chief Iheanyi Chinasa, the Special Adviser to Governor Alex Otti on Donor Agencies, wherein he attempted to mislead the public regarding the $263.8 million loan facility approved by the National Assembly for Abia State.
It has become necessary to set the records straight and expose the deliberate misinformation being peddled by Chief Chinasa on behalf of Governor Otti.
To begin with, Governor Alex Otti did not initiate this $263.8 million loan facility. The process commenced as far back as 2017 under the previous administration, long before he assumed office. This fact is verifiable in Vanguard Newspaperโs report of November 22, 2022, titled โWhy I stopped Abiaโs bid for AfDB loan Alex Ottiโ
( https://www.vanguardngr.com/2022/11/why-i-stopped-abias-bid-for-afdb-loan-alex-otti/ ) where Otti himself openly admitted to frustrating the stateโs efforts to access the facility. His reason, according to the report, was based on alleged lack of transparency during the previous administration yet today, his own government is widely regarded as one of the most opaque in Nigeria.
The irony cannot be lost on any discerning Abian. The same man who once petitioned the National Assembly, AfDB , World Bank to block the facility is now trying to take glory for a project he neither conceived nor supported when it mattered most.
*The truth is that the National Assembly in February 2024 included Abia Stateโs $263.8 million component in the Federal Governmentโs 2024โ2025 borrowing plan, despite the state governmentโs cold relationship with the Federal Government.* The Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu, did not oppose the loan; rather, he called for proper oversight and accountability in its disbursement, given the growing evidence of financial mismanagement by the present administration.
His caution was timely and in line with his constitutional oversight duty, especially in view of recent controversies surrounding several phantom projects in Abia State such as the alleged โฆ6.7 billion recreational facility, โฆ4.3 billion spent on farm seedlings, and โฆ72 billion purportedly used for school rehabilitation, many of which exist only on paper.
*We also wish to remind Abians that the state government has already received the first tranche of $125 million, currently domiciled in its account with First City Monument Bank (FCMB), Umuahia branch.* The Deputy Speakerโs concern, therefore, is about ensuring the funds are judiciously deployed not diverted into yet another round of deceitful propaganda.
Rather than addressing these issues, Chief Iheanyi Chinasa resorted to political mudslinging and empty rhetoric. We had expected him to point out projects attributed to the Deputy Speaker which does not exist . Does he even know all the communities in Bende, or is he merely repeating talking points crafted to mislead the public?
_Abians deserve the truth, not _deceit wrapped in political loyalty.
Moreover, Chief Chinasaโs attempt to cast aspersions on the National Assembly is laughable, considering his tainted past. For the record, the United States Department of Justice, Office of Public Affairs, in an official report titled โ*Maryland Man Convicted of Defrauding Cisco Systems Inc.*โ
confirmed that a certain Iheanyi Frank Chinasa, the same individual now serving as Governor Ottiโs aide, was convicted for wire fraud and money laundering involving Cisco Systems Inc. This record is public and irrefutable.
Such an individual lacks the moral standing to caution or question the integrity of the National Assembly or the Deputy Speaker, whose intervention seeks to protect the collective interest of Abians.
The Abia APC Renaissance Group fully aligns with the Deputy Speakerโs position that transparency and accountability must be the guiding principles in the management of the $263.8 million facility. We will continue to expose deceit and propaganda while insisting that every dollar meant for the development of Abia State is accounted for and used for the peopleโs benefit.
Signed:
Abia APC Renaissance Group
Umuahia, Abia State
13102025
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