Governor Monday Okpebholo of Edo State has issued an immediate directive to freeze all state-owned bank accounts until further notice. This decision, announced on Thursday, has sent ripples through the state’s administrative and commercial sectors.
The directive, communicated through a statement by the Chief Press Secretary to the Governor, Fred Itua, stipulates that all commercial banks must comply with the order without delay. “All bank accounts in all the commercial banks have been frozen. Commercial banks must comply with the order and ensure that not a dime is taken out of the coffers of the Government until there is further notice,” the statement read.
Governor Okpebholo has also warned that any heads of Ministries, Departments, and Agencies (MDAs) or civil servants who flout this order will face severe repercussions. This measure comes as part of a broader initiative to review and reconcile the financial dealings of the state, particularly in light of the previous administration’s records.
The Governor’s action follows closely on the heels of another significant administrative decision where he reverted the Ministry of Roads and Bridges back to its original name, the Ministry of Works. This change was critiqued as ironic given the lack of significant infrastructure development under the previous name.
Posts on X (formerly Twitter) from various users and official accounts, including @SenOkpebholo, have echoed this sentiment, highlighting the urgency and severity of the Governor’s new policy. The discussions on social media suggest a mix of support and scrutiny from the public, with some seeing it as a necessary step for financial transparency, while others express concerns over potential disruptions in state operations.
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This financial freeze is expected to impact various state functions, potentially halting payments for ongoing projects, salaries, and other operational costs unless exceptions or new guidelines are quickly established. The Governor’s office has not yet detailed the scope or exceptions to this freeze, leaving many stakeholders in a state of anticipation regarding the next steps.
Economic analysts in Edo State are watching closely. “This could be a strategic move if it’s aimed at cleaning up state finances, but the implementation needs to be managed carefully to avoid economic fallout,” commented Dr. Emem Bassey, a local economic policy expert.
Governor Okpebholo’s administration has promised to conduct necessary investigations and reconciliations. Once completed, the Governor is expected to decide on the way forward, potentially unfreezing the accounts with new financial safeguards in place.
As the state braces for these changes, the focus remains on how this decision will affect everyday governance and the welfare of state employees. The administration’s transparency in its next steps will be crucial in maintaining public trust and ensuring that Edo State’s developmental momentum is not entirely disrupted.
