We do not fear ongoing audit of Ibom Power, we need funding

Etukudoh fielding questions from journalists in Uyo on Tuesday said he was not perturbed about the audit as the records of all the operations of the company were intact and nothing has been done in secrecy since his assumption of office. He said, 'Fear over audit? what for? I have no iota of fear. I sleep like a baby because all the records are there. One thing you should know is that I can't expect to be the MD of Ibom Power for life.

He further explained that the only time Ibom Power Company would have obtained a loan should have been when the company owed three months staff salary due to 'waterfall policy' by NEC which did not give the company money to pay salaries. His words, 'We met 10.48 billion Naira loan debt on ground, or should I put it as it is, 11.6m USD collected from Afrexim Bank. Ibom Power Company was owing Accugas 2.62 billion Naira as of then. Diamond Bank was 2.

Source: News Formal (newsformal.com)

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