Atedo Peterside, President of ANAP Foundation and founder of Stanbic IBTC Bank, has launched a scathing critique of Vice Admiral Ibok-Ete Ibas, the Sole Administrator of Rivers State, accusing him of exacerbating tensions in the state through questionable appointments and a lack of understanding of his role.
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In an exclusive interview with Arise News, Peterside, a native of Rivers State, described Ibas’ actions as “adding fuel to the fire” in an already volatile situation marked by protests and public unrest over the suspension of Governor Sim Fubara.
Peterside, whose four grandparents hail from Rivers, expressed dismay at Ibas’ irregular emergence as Sole Administrator, citing a legally misguided executive decision and a “rascally” legislative voice vote that lacked a verifiable two-thirds majority. “There was no quorum in the House of Representatives, and a member who pointed this out was shouted down,” Peterside said, referencing televised footage. He argued that Ibas, operating on “shifty ground,” has compounded the crisis by making appointments without a transparent process.
Ibas’ reconstitution of the Rivers State Independent Electoral Commission (RSIEC) and appointment of sole administrators for all 23 local government areas (LGAs) drew particular ire. Peterside challenged Ibas to disclose how he selected these appointees, questioning whether positions were advertised or nominations sought. “Some of these people, in my opinion, are riffraff,” he stated, suggesting that the appointments favor allies of FCT Minister Nyesom Wike, a key figure in the Rivers crisis. “In Rivers, we know ourselves—your appointments reveal who you are,” he added.
Peterside framed the Rivers crisis as a symptom of a broader issue: state capture, where individuals hijack state resources for personal gain. “This is about state capture, not just money,” he said, rejecting claims that the conflict is solely financial. He criticized Ibas for failing to stabilize the state, instead inflaming tensions by appointing questionable figures to sensitive positions. “A man with no proper mandate in a serious legal system is superimposing people over Rivers people,” Peterside remarked, calling for Ibas’ immediate removal along with his appointees.
The Rivers native also took aim at President Bola Tinubu, urging him to act as a neutral “father of the nation” rather than appearing to take sides. Peterside criticized Tinubu’s speeches, which he said have unfairly targeted Fubara while ignoring Wike’s role in the dispute. “Every schoolboy knows the two major figures in this dispute,” he said, referring to Fubara and Wike. He warned that state capture threatens Nigeria’s democracy, citing examples of ministries and institutions monopolized by powerful interests.
Amid reports of Fubara’s meeting with Tinubu in London—described by some as “groveling subservience”—Peterside endorsed dialogue as a critical tool for resolving the crisis. “There are only three options: talk, do nothing, or fight. Talking is constructive,” he said, encouraging Fubara to confront Tinubu over false claims, such as the state assembly not being rebuilt. However, he emphasized that the crisis transcends Fubara and Wike, requiring broader stakeholder engagement to safeguard democracy.
Peterside dismissed speculation about Fubara defecting to the APC, focusing instead on the systematic erosion of democracy through defections and power grabs. He suggested that politicians with “baggage” are congregating in the APC, urging honest members to exit and leave the tainted in one place for scrutiny.
The ongoing state of emergency in Rivers, Peterside warned, is deterring investors and fostering uncertainty. “Why would you leap into an environment where an administrator is making crazy appointments left, right, and center?” he asked. He questioned the logic of appointing a military figure like Ibas, arguing that it sends a dangerous signal to young soldiers that military intervention is a solution to political failures. “Real emergencies exist in Benue and Plateau, where lives are lost. Why prioritize Rivers, a struggle over revenue?” he queried, pointing to the state’s significant revenue as a motive for state capture.
Peterside concluded with a stark warning: unchecked state capture could provoke anarchy. Quoting JFK, he said, “Those who make peaceful revolution impossible make violent ones inevitable.” He urged politicians to resolve the crisis democratically, warning that relying on military solutions risks further destabilization. “The politicians are in charge of their own destiny. They must not send a signal that they need military help,” he said.
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