Tension Rises as APC Group Challenges Iheanyi Chinasa on Abia Loan Controversy

The All Progressives Congress (APC) Renaissance Group has condemned Chief Iheanyi Chinasa, Special Adviser to Abia State Governor Alex Otti on Donor Agencies, for his recent remarks against the Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu, PhD, CFR.

In a press statement released in Umuahia, the group accused Chief Chinasa of spreading misinformation about the $263.8 million loan facility approved for Abia State, describing his comments as “deceptive and politically motivated.”

According to the APC Renaissance Group, the loan facility, which has become a point of political contention, was not initiated by Governor Otti’s administration but dates back to 2017 under a previous government. The group cited a Vanguard Newspaper report published on November 22, 2022, titled “Why I stopped Abia’s bid for AfDB loan – Alex Otti”, where Otti reportedly admitted to opposing the facility at the time due to alleged lack of transparency.

The group said, “The irony is glaring. The same man who once petitioned the National Assembly, AfDB, and the World Bank to block the facility is now attempting to take credit for a project he never supported.”

They clarified that the National Assembly in February 2024 included Abia State’s $263.8 million component in the Federal Government’s 2024–2035 borrowing plan, facilitated through the legislative process and backed by the Deputy Speaker, Benjamin Kalu.

The group stressed that Kalu never opposed the loan but instead called for proper oversight and transparency in its use.

“His caution was timely and aligns with his constitutional role to ensure accountability, especially given concerns over alleged financial mismanagement in the Otti administration,” the statement read.

The APC Renaissance Group also accused the state government of financial opacity, citing alleged “phantom” projects such as a ₦6.7 billion recreational facility, ₦4.3 billion for farm seedlings, and ₦72 billion on school rehabilitation. They alleged that many of these projects exist only on paper.

In a bold claim, the group stated that the first tranche of the loan, amounting to $125 million, is already domiciled in the Abia State Government’s account at First City Monument Bank (FCMB), Umuahia branch. They said Kalu’s concern was focused on ensuring that the funds are “judiciously deployed and not diverted into propaganda or personal enrichment.”

The statement further criticized Chinasa for attacking the National Assembly and questioned his moral standing to challenge the Deputy Speaker. It referenced an official report by the United States Department of Justice, titled “Maryland Man Convicted of Defrauding Cisco Systems Inc.”, which identified an individual named Iheanyi Frank Chinasa as being convicted of wire fraud and money laundering.

“Such a person lacks the credibility to question the integrity of the National Assembly or the Deputy Speaker, whose stance is to protect the collective interest of Abians,” the group declared.

The APC Renaissance Group reaffirmed its support for Benjamin Kalu’s insistence on transparency, urging Governor Otti’s administration to provide full disclosure on how the loan will be used.

“Abians deserve the truth, not deceit wrapped in political loyalty. Every dollar meant for Abia’s development must be accounted for,” the group concluded.