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Consolidated revenue fund overdrawn by N2.48tr, says Auditor-General
The Auditor General of the Federation has queried alleged unsubstantiated transfer of N3.627 trillion from government coffers to entities to fund recurrent expenditure in the 2018 financial year.
He also said the Consolidated Revenue Fund was overdrawn to the tune N2.483 trillion in total disregard of Financial Regulation (FR) 710.
Financial Regulation (FR) 710 stipulates that “No government bank account shall be overdrawn or any temporary advance obtained from a bank. In the event of an account being overdrawn, the Officer Responsible shall be made to refund any bank charges incurred thereon.”
Besides, the AuGF in his report submitted to the National Assembly queried the funding of government investments in non-existent or moribund companies to the tune of N84.702 billion, adding that there was no evidence supporting investment of government in the companies.
The part two report with reference number GF/AR.2018/VOL.II/02 of 25th March, 2021 was signed by the Auditor General of the Federation, Adolphus A. Aghughu and addressed to the Clerk to the National Assembly.
According to the report, the sum of N8.101 trillion was transferred to fund recurrent expenditure-receipt’ in the Consolidated Statement of Financial Performance, while the sum of N11.728 trillion by 944 MDAs gave rise to an unsubstantiated difference of N3.627 trillion which was recognised in the Consolidated Statement of Financial Performance.
“The audit is unable to validate the correctness or otherwise of the difference under reference,” the AuGF said.
The report said further that about 103 MDAs exceeded their Personnel Cost Budget by ₦641.757 billion in 2018 while another 115 MDAs had zero Personnel Cost even though there was Budget allocation for them.
It queried the sources of extra funds for salaries and wages to the 103 MDAs and why there was zero personnel budget for the 115 MDAs even though the MDAs under reference had annual budgets approved for them.
It expressed concern about the completeness and accuracy of the consolidated figures with respect to salaries and wages, adding that “the above anomalies could be attributed to absence of strong quality assurance around the consolidation process at the Office of the Accountant-General of the Federation.
The risk to government resources, it said, is the fact that the consolidated financial statements may have been misstated while there may have been unauthorised virement instead of seeking approval of the National Assembly.
It put the total amount of GIFMIS finalised payments for randomly selected 99 MDAs at ₦536.050 billion and the consolidated salaries and wages at ₦532.352 billion, leading to an understatement of ₦3,698 billion.
The report said there was no further information to enable the audit to verify the understatement.
It attributed the discrepancy to “weaknesses in the internal control systems around the consolidation process at the Office of the Accountant-General of the Federation”.
The audit report disclosed that there were certain irregularities in the disclosure of aids and grants to MDAs to the tune of ₦219.562 billion, which it said was in contravention of Auditor-General for the Federation’s recommendation in 2017 report that ‘Aid and Grants’ should be disclosed in a recommended format.
It said “as a result of the above violation, the sum of ₦219.562 billion shown as Aid & Grants could not be validated, and there was ‘Foreign Grants’ of ₦4,200.00 (Four thousand two hundred naira) as well as ‘Domestic Grant’ of ₦17,100.00 (Seventeen thousand one hundred naira) totaling ₦21,300.00 in favour of Federal Ministry of Foreign Affairs.
“Audit is concerned as to what amount in foreign currency was donated to the extent that its naira equivalent was ₦4,200.00. The donor was not disclosed to enable audit follow up with circularization”.
It said this makes accountability difficult and could cast doubt on the existence and accuracy of reported figures.
On doubtful government investments in NITEL and other Moribund companies, the report said about N84.702 billion was invested in companies whose going concern and continue existence are in doubt, adding that “efforts by the audit to verify the investment in NITEL yielded no result as the Agency in question had been liquidated.
“Continued recognition of these investments without fully disclosing their impairment status in the Consolidated Financial Statements as required by the above IPSAS cast doubt as to their accuracy and existence.
“Audit therefore concludes that since there is no evidence that supports government investment in NITEL and other companies, it is more likely that these investments may have been impaired,” it said.
The Auditor General’s report also stated that some government agencies embarked upon overhead expenditure without appropriation while some others carried out unapproved virement to fund their overheads.
It said about 14 MDAs incurred overhead expenditure totaling N162.924 billion without appropriation in total disregard to the 1999 constitution as amended, leading to possible misappropriation of funds.
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Ex-CSU Lecturer Reopens Tinubu’s Certificate Controversy, Says President Never Attended University
Ex-CSU Lecturer Reopens Tinubu’s Certificate Controversy, Says President Never Attended University
A fresh controversy has emerged over President Bola Ahmed Tinubu’s educational background after a former lecturer at Chicago State University (CSU), Dr Adetokunbo Pearse, claimed that the Nigerian leader never attended the American institution.
Pearse made the allegation during an interview on News Central Television on Sunday, November 8, 2026, insisting that he had personal knowledge of the university’s academic programme and Tinubu’s alleged attendance.
The former lecturer, who said he worked at Chicago State University between 1985 and 1990, claimed he was the director of the programme Tinubu reportedly attended.
According to him, he was familiar with the institution’s records and maintained that the President never enrolled there.
“The fact of the matter is, I know he never attended Chicago State University. He knows that I know. So the man (Mr Tinubu) has no integrity,” Pearse said.
He also questioned the educational institutions Tinubu listed in documents submitted to the Independent National Electoral Commission (INEC), arguing that the President had identified schools he allegedly never attended.
Pearse further claimed that he was approached in 1999 by individuals seeking information about Tinubu’s academic records when the late Funsho Williams was reportedly making inquiries into the matter.
The allegation has reopened public debate over Tinubu’s educational qualifications, which generated considerable controversy during the 2023 presidential election and subsequent legal proceedings.
However, Pearse’s assertion contradicts Chicago State University’s official position. In September 2023, the institution confirmed that Tinubu attended the university and graduated in 1979 with a bachelor’s degree.
The university subsequently released academic records following legal proceedings initiated in the United States by former Vice-President Atiku Abubakar.
The records indicated that Tinubu attended the institution between August 1977 and June 1979 and was awarded a Bachelor of Science degree in Business Administration.
Although questions were raised during the legal proceedings about the authenticity of the particular diploma submitted to INEC, Chicago State University maintained that its records confirmed Tinubu’s attendance and graduation.
Pearse’s latest comments therefore introduce a fresh personal challenge to the university’s previously stated position, although his assertion does not, on its own, invalidate the institution’s official records.
As of the time of filing this report, the Presidency had yet to publicly respond to the latest allegations, according to reports on the interview.
The renewed controversy is likely to attract further political attention as Nigerians continue to debate questions surrounding transparency, public accountability and the President’s educational background.
Ex-CSU Lecturer Reopens Tinubu’s Certificate Controversy, Says President Never Attended University
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One Killed, Five Injured as Violence Disrupts Obi-Kwankwaso Rally in Delta
One Killed, Five Injured as Violence Disrupts Obi-Kwankwaso Rally in Delta
One person has been killed and five others injured following a violent clash that disrupted a political procession organised by supporters of the Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, and his running mate, Rabiu Kwankwaso, in Asaba, Delta State.
The incident occurred at about 12:15 p.m. on Saturday, November 7, 2026, along Nnebisi Road, during a one-million-man march organised by supporters of the Obi-Kwankwaso Movement.
The Delta State Police Command confirmed the casualties, disclosing that the identities of the deceased and injured persons had yet to be established as investigations commenced.
In a statement issued by the Police Public Relations Officer, SP Bright Edafe, the command said it had received intelligence indicating the possibility of violence ahead of the procession.
According to the police, organisers of the rally were invited to a security meeting, where they were briefed about the identified threats and advised against holding an open-road procession.
The command said the organisers were encouraged to conduct their political activities at a designated venue where adequate security arrangements could be provided.
However, the police alleged that the organisers ignored the advice and proceeded with the procession.
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Following a distress call, police operatives were deployed to the scene and evacuated the injured victims to hospital for medical attention.
Security was subsequently reinforced in the affected area to prevent further breakdown of law and order.
The police said investigations were ongoing to establish the circumstances surrounding the violence and identify those responsible.
Commissioner of Police, Samuel Erale, condemned the incident and reiterated that political parties were free to conduct lawful campaigns and other political activities across the state.
He, however, urged political parties and their supporters to avoid road processions in the interest of public safety and liaise with the police ahead of political gatherings to facilitate adequate security arrangements.
The command also appealed to members of the public with useful information about the incident to contact the police through 09155570008 or 09155570007.
Meanwhile, the NDC has accused the ruling All Progressives Congress (APC) of being behind the attack, alleging that the incident was an attempt to intimidate opposition supporters and disrupt its political activities.
Former Speaker of the Delta State House of Assembly and NDC senatorial candidate for Delta North, Victor Ochei, called on Governor Sheriff Oborevwori to order an immediate investigation and ensure that those responsible were arrested and prosecuted.
Ochei alleged that more than 30 campaign buses were destroyed during the attack, accusing suspected attackers of being mobilised by individuals allegedly connected to the ruling party.
However, Delta APC spokesperson, Valentine Onojeghghuo, dismissed the allegation, insisting that the NDC had provided no evidence linking APC members to the incident.
He described the accusation as baseless and urged the opposition party to embrace peaceful political engagement.
The Delta State Coordinator of the Obi-Kwankwaso Movement, Favour Emerue, also alleged that the gathering was peaceful before suspected hoodlums disrupted the procession, leaving some participants injured.
In a separate reaction, Peter Obi condemned the reported attacks on his supporters and NDC members in Delta State, calling on the state government and security agencies to investigate the incidents and bring those responsible to justice.
The latest violence has renewed concerns about the safety of political activities ahead of the 2027 general elections.
The police have assured residents that a thorough and impartial investigation will be conducted to establish the circumstances surrounding the clash and ensure that anyone found culpable faces the law.
One Killed, Five Injured as Violence Disrupts Obi-Kwankwaso Rally in Delta
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Power Outage: Tegbe Gives Nigerians 72-Hour Timeline as FG Moves to Restore Electricity
Power Outage: Tegbe Gives Nigerians 72-Hour Timeline as FG Moves to Restore Electricity
ABUJA – Minister of Power, Joseph Tegbe, has assured Nigerians that electricity supply will begin to improve within the next 48 to 72 hours as the Federal Government intensifies efforts to address the challenges responsible for the recent power outages across parts of the country.
Tegbe gave the assurance in an update on the country’s power situation amid growing complaints from electricity consumers over prolonged blackouts, particularly in Lagos and the Federal Capital Territory.
The minister attributed the worsening electricity supply to a combination of planned maintenance at Egbin Power Station, inadequate gas supply to some thermal power plants and sabotage of critical transmission lines.
According to him, the challenges have reduced the volume of electricity available on the national grid, forcing grid operators to implement load shedding in some areas to manage the shortfall.
He explained that maintenance activities at Egbin Power Station, one of Nigeria’s major electricity-generating facilities, had contributed significantly to the reduction in power generation.
The minister also identified gas supply constraints affecting some thermal power stations as another factor responsible for the decline in electricity generation.
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Tegbe further alleged that sabotage of key transmission lines had restricted the use of alternative routes for supplying electricity to some locations, particularly Lagos.
He said the Federal Government was working with relevant operators to address the challenges and restore the affected generating units in phases.
“My team and I are working to return the affected generating units to service in phases, with the first units coming back online within the next 48 to 72 hours.
“We are also working with operators to improve gas supply and accelerate repairs to the damaged infrastructure,” he said.
The minister acknowledged the hardship caused by the outages, noting that the disruptions had placed considerable pressure on households and businesses in the affected states.
He apologised to electricity consumers experiencing the interruptions and thanked them for their patience, promising to provide further updates as efforts to restore supply progress.
The latest assurance follows growing public complaints over worsening electricity supply, with residents and businesses in several locations struggling to cope with prolonged outages.
The power crisis has also triggered disagreements between the Transmission Company of Nigeria (TCN) and Ikeja Electric over the causes of recent supply interruptions.
While Ikeja Electric had cited grid instability in explaining its inability to meet electricity supply obligations to some Band A customers, TCN disputed the explanation, attributing the decline largely to inadequate gas supply and reduced electricity generation.
Tegbe had earlier directed TCN, the Nigerian Independent System Operator (NISO) and electricity distribution companies (DisCos) to address operational challenges contributing to the decline in power supply.
Nigerians will now be watching closely to see whether the promised improvement materialises within the 48-to-72-hour timeframe.
Power Outage: Tegbe Gives Nigerians 72-Hour Timeline as FG Moves to Restore Electricity
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