By Emma Amaize, Asaba
DELTA State Government said, weekend, that the N2. 418, 223,328.96, which an online media alleged was used by Governor Emmanuel Uduaghan to buy victory in the Delta State Governorship Re-run Tribunal was intact in the Federal Accounts Allocation Committee, FAAC, Account of the state with Oceanic Bank.

The Obasanjo Farms Limited, OFN- Delta Farms Limited, Ogwashi-Uku, also expressed disgust that wrong motive was being read into an equity investment of N778,600,000 by the Delta state government for the establishment of a farm that was already operational and has provided employment for Deltans.

Delta State Commissioner for Information, Chike Ogeah Esq. in a statement made available to  Vanguard said the state government invested the said N2.4 billion on a short term call basis and earned interest of N849, 539.11 within seven days.

His words, “As part of the state government’s treasury management policy, idle funds in the Federal Accounts Allocation Committee, FAAC, are invested on short term call basis to earn interest in favour of the state government. The authority flows from the financial regulation and the annual budget for 2011”.

“Oceanic Bank was directed to place the sum of N2, 418,223,328.96 on call for seven days at five per cent interest rate on June 30, 2011.

“On July 7, 2011, Oceanic Bank was instructed to liquidate the said sum back into the FAAC Account. This was promptly executed.

“Interest amounting to N849, 539.11 was earned for Delta State Government during the seven days call period”, he said

Pointing out that the online media had demonstrated its “limitless capacity for mischief and amazing ignorance” and also “embarked on mischievous interpretation of official documents and transactions they lacked the capacity to comprehend”, Ogeah said the Delta state government had a Memorandum of Understanding, MoU, with Obasanjo Farms, Ogwashi-Uku, Aniocha South local government area with a one-third equity in the company, while Obasanjo Farms holds the balance two-thirds equity contribution.

He said state government had approved 200 hectares of land and N778, 600, 000 payment as one third equity contribution to the project in 2010 and effected the same payment in line with the MoU and the resolution to the effect by the State Executive Council.

Ogeah explained to Saturday Vanguard that a Wema Bank cheque for the amount , which was published by the online media , was issued June 15, 2010, whereas the 2007 election of Governor Uduaghan , which was being referred to, was annulled five months after in November, 2010.

He wondered why the judgment of the Governorship Re-run Election Petition Tribunal, which was delivered in July, 2011, more than a year after the equity payment to Obasanjo Farms if not “an unabashed, reckless and desperate bid by reactionary and opposition forces intent on using any means to hold back Delta’s match towards greatness”.

On the N2.4 billion ,which he maintained was in the state’s FAAC Account, he said the online media in “its display of ignorance of established banking transactions or sheer mischief did not know that cash period on call cannot be withdrawn as they reported”.

“Despite these efforts, Governor Uduaghan remains focused and undistracted in delivering his promise to the good people of Delta state and maintains a regular hands-on approach to governance”, he asserted.

OFN-Delta Farms manager, Mr. Feranmi Omoniyi who also responded to the allegation told Saturday Vanguard in Asaba that the equity contribution paid to the company, last year, was not used to bribe tribunal members, but in establishing the farms as stipulated in the MoU.

His words, “The Farms have been established and is employing a large percentage of Deltans in a total workforce of 300 at the moment and with a capacity of employing up to 1,000 in the next two to three years as we expand our operations”.