Akpabio’s Multi-Million-Naira Post-Governorship Pension Bill Passed Into Law
The Akwa Ibom House of Assembly on Monday passed into law, the Former Governor and Deputy Governor’s Pension Bill 2014 into law — a legislative work that will see the ex-governors of the state earn millions of naira for every of their petty needs after leaving office.
According to the bill, which Akpabio sent to the House on 15th May 2014 with a mandate that it must be passed before 1st June 2014, the governor will receive pension for life at the rate of his current salary, which translates to N26.7million. Similarly, his deputy, Mrs. Valerie Ibe, will earn an annual pension of N25.3m.
With the passage of the bill, Akpabio will also be given N5million every month to employ domestic staff, while his deputy will have N2.5million for the same purpose.
He will be entitled to free medical services for himself and his spouse at a sum not exceeding N100 million per annum and N50 million for Valerie, while he will have “a befitting accommodation” not below a 5-bedroom maisonette in either Abuja or Akwa Ibom, in addition to a yearly accommodation allowance of 300 per cent of annual basic salary, which is the equivalent of N6.7million.
Akpabio will receive a severance gratuity of 300 per cent of annual basic salary (N6.7million)) while he will also have N6.7million each for furniture allowance once in every four years, and for fueling and maintaining his vehicle every year.
Section 1(1) of the bill states that these benefits, and many more, shall be due to “an indigene of the state who has held office as a democratically elected governor or deputy governor of former Cross River State and a person who has held office as a democratically elected governor or deputy governor of the state shall when he ceases to hold office be entitled”.
Other sections of the bill show that Akpabio will receive yearly utility allowance of 100 percent of annual salary, which is the equivalent of N2.2million, while his deputy takes N2.1million.
He will get another N2.2million — that is 100 percent of annual basic salary — as entertainment allowance, while N2.1million will go to Valerie.
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