The Taraba State Government has denied allegations by Senator Emmanuel Bwacha, the Peoples Democratic Party governorship candidate, that a $268 million financing agreement with the ECOWAS Bank for Investment and Development had gone missing. According to the government, the funds are yet to be disbursed. The financing agreement was signed on June 26, 2026, to support projects in industrial development, agricultural production, and renewable energy.
The Director of Media and Strategic Communication of the Kefas Campaign Council 2027, Hon. Emmanuel Bello, issued a statement on Monday, describing Bwacha's claims as false. Bello urged Bwacha to base his scrutiny of the administration of Governor Agbu Kefas on verifiable facts rather than claims capable of creating public anxiety. He emphasized that signing the agreement did not mean the funds had been released.
The statement explained that the $268 million financing agreement between the State Government and the ECOWAS Bank for Investment and Development is for an integrated industrial park, irrigated rice production and processing, and a 50-megawatt solar power project. The government cited a recent explanation by the state Commissioner for Finance, Dr Sarah Enoch Adi, that the signing of the agreements did not automatically trigger the release of funds.
According to Bello, disbursement of the funds remained subject to conditions precedent, regulatory processes, and statutory approvals. He challenged Bwacha to provide evidence to the appropriate authorities and the public if he had credible information that the funds had been disbursed and subsequently misappropriated. Bello described Bwacha's claims as substituting political alarm for verifiable evidence.
The campaign council also challenged Bwacha to explain his development plans for the state, including proposals for improving security, expanding youth employment, upgrading infrastructure, and accelerating industrial development. The council maintained that the integrated industrial park and agricultural processing initiatives criticized by Bwacha were among the projects the financing arrangement was intended to support.
The statement added that the Kefas administration had prioritized security, youth empowerment, infrastructure, and economic development, while acknowledging the need to address existing security challenges and demonstrate measurable results. The council urged Bwacha to familiarize himself with the details of the financing arrangement and present a credible alternative for the state.
The campaign council said Tarabans deserved informed debate and accountability based on verifiable evidence as political activities ahead of the 2027 governorship election gathered momentum. The government emphasized that the forthcoming political contest should be about competing ideas, demonstrable records, and credible plans for the future.
Key points
- The Taraba State Government has denied claims of a missing $268 million ECOWAS loan, stating that the funds have not been disbursed.
- The government has challenged Senator Emmanuel Bwacha to provide evidence to support his claims.
- The financing agreement was signed to support projects in industrial development, agricultural production, and renewable energy.
