The management of Ibom Power Company, the operators of Ibom Power Plant have cleared the air on the much talked about loan from Diamond Bank, disclosing that, the facility was secured from the Bank during the administration of Ex-Governor of Akwa Ibom State ,Obong (ARC) Victor Attah. 

The company management during a media briefing, explained that, the loan was taken from the Bank to facilitate the contract that was being executed by a South African firm ,EPC –Group five Construction Ltd for Ibom Power plant project. 

The company decried the level of blackmail going on in the State over the loan and charged the people to get their facts right. Meanwhile, a company source also disclosed that the loan was secured by Prof Okon Ansa led board and it was 15million dollars and strictly for the construction of the power plant in 2005/2006. 

The company source further clarified that the Immediate past Governor, (Akpabio) was not aware of the funding when he took over because it was not included in his hand-over note but he was briefed years later when the company could not service the loan facility by the Management.  

When we contacted Prof Okon Ansa who was the Chairman of the board of Ibom Power Company then, he confirmed the story and said the funding was used for the actualization of the Ibom Power Plant Project during the administration of Obong (Arc ) Victor Attah and charged Journalist to always ascertain their news before going to the press. 

The Prof Okon also said that Government is a continuum, maintaining that succeeding government’s should pay up the loan , that the improved Power witnessed in Akwa Ibom today is as a result of that loan which was put to proper use.


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