Ayade Denies Receiving $500m Monthly From Federal Govt As Stabilisation Fund

Cross River State Governor Ben Ayade has picked holes in a claim by the chairman, Revenue Allocation Mobilization and Fiscal Commission (RAMFC), Mr. A.M. Shehu, that the state had been receiving $500 million as stabilisation fund from the federal government to cushion the effects of loss of oil well.

The state chief executive faulted the claim while answering questions from LEADERSHIP in a telephone discussion yesterday.

Ayade stated that the statement was false, stressing that what the state received was N500 million and not $500 million as claimed by the chairman in a statement being circulated in social media space.

The governor stated that what he received as stabilization fund is no news as it had be there before he even assumed office as state governor.

Representing the state governor, chief press secretary/senior special adviser on Media and Publicity to governor Ayade, Mr. Christian Ita, stated that the news was fake even though there was a video being circulated on social media space.

Ayade said the statement was a calculated attempt by the detractors of who are out to tarnish the governor’s good image.

He urged those behind the statement to desist from disseminating false information which is false just because they are interested in dragging the good image of the state governor to the mud.

A press release sighted by our correspondent stressed that the information contained in the video where the chairman of Revenue Allocation Mobilization and Fiscal Commission (RAMFAC), A.M Shehu, in one of the national television programmes claim that the state receives monthly find of $500 million stabilization fund from federal government for ceding Bakassi Peninsula and its oil wells.

Ita’s release which also faulted the statement added that the information being peddle is capable of brewing up hatred that would not add value to the state but truncate the peace being enjoyed in the state.