The Judicial Commission of Inquiry set up by Rivers State Governor, Nyesom Wike, to investigate the sale of valued assets of the state and other related matters by the administration of former Governor Chibuike Amaechi has said the former governor mismanaged N53 billion out of N55 billion in the state reserve fund.

Chairman of the commission, Justice George Omereji made the assertion on Wednesday while addressing journalists at Government House, Port Harcourt shortly after submitting the report of the commission to Wike.

Omereji said the commission found out that Amaechi withdrew N53 billion from the reserve fund between 2014 and 2015 and that the former governor did not apply the funds to any projects.

“There was the sum of N55 billion in the State Reserve Fund. Between 2014 and May 2015, they were able to remove N53 billion and we found out that the money (N53 billion) was not used for the projects in the state. The money went to individuals. From the papers submitted to us, we also found out that the money was given to people they like,” he said.