The ADC chieftain linked the IMF’s findings to the ongoing controversy surrounding the alleged Presidential Foreign Intervention Promotion Council (PFIPC), an entity the Presidency has denied establishing
KaNo —
Former Vice President Atiku Abubakar has called for a comprehensive investigation into alleged discrepancies in Nigeria’s public finances, following concerns raised by the International Monetary Fund over unreported government expenditure.
In a strongly worded statement issued on Saturday, Atiku, who is also the presidential candidate of the African Democratic Congress, challenged the administration of President Bola Tinubu to provide a full account of funds allegedly omitted from recent national budgets.
He described the situation as indicative of “institutional corruption” at the highest levels of government.
The former vice president’s reaction followed an IMF disclosure that Nigeria failed to capture public spending equivalent to about two per cent of its Gross Domestic Product (GDP) in its budget documentation.
The revelation, Atiku argued, raises serious constitutional and accountability questions that cannot be ignored.
Speaking through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku dismissed suggestions that the omission could be attributed to routine accounting errors.
Instead, he insisted that the scale of the discrepancy pointed to deliberate actions within the system.
“If, as the IMF has revealed, expenditure amounting to two per cent of Nigeria’s GDP was omitted from the budget process, then Nigerians are entitled to one simple question: Who stole the missing two per cent of our GDP?” he queried.
He further stressed that the issue had gone beyond technical misreporting, describing it as “a constitutional, legal and moral scandal.” According to him, public funds do not vanish without authorization, approval, and eventual beneficiaries, all of whom must be identified.
“Money does not simply disappear from a national budget. Somebody authorised it. Somebody approved it. Somebody spent it. Somebody benefited from it. Nigerians deserve to know who those people are,” Atiku said.
The ADC chieftain linked the IMF’s findings to the ongoing controversy surrounding the alleged Presidential Foreign Intervention Promotion Council (PFIPC), an entity the Presidency has denied establishing.
Atiku expressed particular concern over what he described as distorted spending priorities within the federal government.
He cited reports indicating that the Federal Ministry of Health received only ₦36 million in releases despite having a budgetary allocation exceeding ₦218 billion, while the controversial PFIPC allegedly accessed about ₦1.3 billion.
“Nothing better illustrates the warped priorities of this administration than a government that starves hospitals and healthcare programmes of funds while ghost agencies somehow find billions waiting for them. This is not fiscal management; it is institutionalised corruption,” he said.
According to Atiku, Nigerians deserve transparency on who authorized the body and the basis upon which it operated.
“The Secretary to the Government of the Federation owes Nigerians a duty of candour. He must come clean. The country deserves to know who authorised the recognition of the so-called Presidential Foreign Intervention Promotion Council and under whose directive government institutions accorded it official status,” he said.
The former vice president also referenced claims made by Adeniyi Adeyemi, who is reportedly at the centre of the controversy.
Describing the allegation as grave, Atiku insisted that only an independent and transparent investigation could determine the truth.
He added that if the claims were proven false, the government should clear its name publicly, but if verified, those responsible must face the full weight of the law.
“If the allegations are false, let the government prove them through an open investigation. If they are true, then every official connected with this scandal, regardless of rank or office, must be removed immediately and handed over to the appropriate security agencies for prosecution,” he said.
“It is both ironic and cruel that citizens are being asked to make endless sacrifices while government itself cannot transparently explain where enormous public resources have gone,” he added.
He subsequently urged key oversight institutions, including the National Assembly, the Auditor-General of the Federation, and the Public Accounts Committees of both legislative chambers, to launch a thorough probe into the matter.
According to Atiku, the issue transcends partisan politics and strikes at the core of constitutional governance, transparency, and accountability in public finance management.
“The books must be opened. Every naira must be traced. Every expenditure must be justified. Every official found culpable must be held accountable,” he said.
He warned that until the government provides a satisfactory explanation for the alleged off-budget spending, its claims of transparency would remain questionable.
The IMF, in its recent assessment of Nigeria’s fiscal operations, highlighted significant gaps in financial reporting, noting that government expenditure equivalent to about two per cent of GDP was not captured within the official budget framework.
The Fund recommended measures to improve fiscal transparency, strengthen budget reporting, and enhance public financial management systems.
The IMF’s disclosure has further intensified scrutiny of Nigeria’s public finance practices, particularly amid the controversy surrounding the alleged PFIPC.
Although the Presidency has denied the existence of such an agency, opposition figures and civil society organisations have continued to demand a comprehensive investigation into the matter.
Group Warns Atiku Against Picking Amaechi As Running Mate
Meanwhile, a political group, the Southern Political Progressive Amalgamation Forum (SPPAF), has cautioned Atiku against selecting former Minister of Transportation and ex-Rivers State Governor, Chibuike Amaechi, as his running mate for the 2027 presidential election.
In a statement signed by Johnson Iheanacho, Eniafe Ayomide, and Anga Fidelis in Asaba, the group described Amaechi as a “political liability” whose inclusion on the ticket could undermine the opposition’s chances of unseating President Tinubu.
The forum alleged that following the ADC presidential primary, Amaechi had focused more on criticising Atiku than promoting the party’s agenda.
It claimed that the former minister had previously described Atiku as a “serial loser” and publicly dismissed the possibility of serving as his running mate.
