Following the controversy trailing the ownership, construction, and change of name of the erstwhile Eastern Palm University, Ogboko, Ideato South LGA, Imo State, it has been unveiled that the family of Senator Rochas Okorocha solely own Rochas Foundation.
Rochas Foundation is the alleged owner of the Ninety (90%) share of the University, leaving Imo State with just Ten (10%) of the remaining share.
However, some weeks ago, the Imo State Government led by Governor Hope Uzodinma took over the ownership of the University and renamed it
K O Mbadiwe University, Ogboko.
Senator Okorocha fought resistantly against the takeover of the University by Imo State Government claiming that it was built by his foundation, Rochas Foundation, a claim the Uzodinma Government has since debunked through a Government Whitepaper.
Meanwhile, investigation carried out at Corporate Affairs Commission, Abuja indicate the Rochas Foundation is solely owned by the Okorocha family.
The Foundation was registered on February 24th 1998, with registration number CAC/IT/NO. 10957, with address at No 3 Nyasa close off, Mississip, Maitama, Abuja FCT.
The Eight members of Board of Trustees are Rochas, his six children and wife.
Okorocha when he started the now KO Mbadiwe University, had told Imo people that he was relocating Imo State University, IMSU, from Owerri to its permanent site.
At the completion of the structures there, Okorocha named it Greek University, before finally naming it Eastern Palm University, claiming that it was no more constructed with Imo funds, but that of Rochas Foundation, who owes 90% share, while Imo State owns just 10%.
