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Atiku to Tinubu: Your loans putting pressure on economy
Atiku to Tinubu: Your loans putting pressure on economy
Former Vice-President Atiku Abubakar says the loans being taken by the present administration is putting “insufferable” pressure on the country’s economy.
The Peoples Democratic Party (PDP) presidential candidate in the last election while accusing the National Assembly of becoming an accomplice, said Nigeria is sinking further in debt.
Atiku in a statement he personally signed while reacting to the recent loan by the federal government said: “The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning.
“This report is coming just when the government has already sent a proposal to the National Assembly signalling an intention to borrow an additional N1.7tn being shortfall in the 2024 budget through Euro Bonds.
“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD.”
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“Nigeria is sinking further in debt, and the National Assembly has become an accomplice once more. Tinubu had, in July this year, boasted that the FIRS and Customs under his watch have collected all-time high revenues to finance the Budget. Why then are they still borrowing? There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.
“These Tinubu’s loans are bone-crushing to Nigerians and bringing insufferable pressure on the economy, especially when they are not properly negotiated and utilized.”
Atiku said it is “concerning that the voracious appetite for these humongous loans is powered by corruption and not for infrastructure and development needs. A report by Budgit, a budget watchdog, has disclosed that the 2024 Budget is a mess because of the level of pork associated with it.
“I feel a sense of personal agony seeing that just a few years after the administration of President Obasanjo took our country out of foreign indebtedness, we are today back at the top spot in the same conundrum. It is time that we apply more caution and apply arithmetic to the loan frenzy.”
Atiku to Tinubu: Your loans putting pressure on economy
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Gbajabiamila Scandal a Plot to Embarrass Tinubu, Says Wike
Gbajabiamila Scandal a Plot to Embarrass Tinubu, Says Wike
- FCT Minister dismisses PFIPC allegations as politically motivated, challenges accuser to face security agencies
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has dismissed allegations linking President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, to the controversy surrounding the purported Presidential Foreign Intervention Promotion Council (PFIPC), describing the claims as a politically motivated plot to embarrass the Tinubu administration. Speaking during his monthly media chat in Abuja on Thursday, Wike said the accusations made by Adeniyi Adeyemi, who claimed to be the Director-General of the non-existent agency, were implausible and lacked credibility. The controversy erupted after Adeyemi alleged that Gbajabiamila was involved in his appointment and claimed to have headed the fictitious government agency — claims the Presidency has since rejected, maintaining that no such agency exists. President Bola Tinubu has directed the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the matter and submit its findings within 30 days, while the Senate has also decided to await the outcome of the ICPC investigation before taking further legislative action.
The FCT minister questioned why Adeyemi reportedly went into hiding after making the allegations, insisting that anyone with genuine evidence should present it to security agencies. “If the young man knows what he is saying is correct, why run away? How can you make such a statement and then run away? You need to be interrogated,” Wike said. “If it was indeed correct, eyeball to eyeball. Go to the security agency. Look at my communications with him. Look at the phone, I’ve been talking with him. Look at what we have done.” Wike argued that the Chief of Staff cannot authorise funds for an agency that does not exist, describing such suggestions as illogical. “Does it make sense that an agency that does not exist he will ask somebody to give it such an amount of money? It is madness. The Chief of Staff cannot create a budget. It is simply not possible,” he stated. The minister also questioned the logic of the allegations, noting that government agencies operate through established budgetary processes that cannot be circumvented by a single official. He further emphasised that the accuser’s decision to flee rather than face investigators casts serious doubt on the credibility of the claims, and he called on Nigerians to scrutinise the motives behind such allegations.
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According to the minister, senior government officials, particularly the Chief of Staff, are often prime targets for those seeking to discredit an administration. “There are people you target in government to give a bad name to their boss. This is the Chief of Staff. This is the person who is in charge of finance and the Secretary to the Government. If you want to embarrass any government, these are the targets first,” Wike said. He expressed confidence in Gbajabiamila’s integrity, stating, “Without any prejudice, I know the Chief of Staff very, very well.” Wike noted that the Chief of Staff position is one of the most strategic in any administration, making it a natural target for those seeking to destabilise the government. He emphasised that Gbajabiamila has served with dedication and should not be judged based on unsubstantiated claims from individuals with questionable motives. The minister also pointed out that the timing of the allegations, coming amid ongoing government reforms, suggests a coordinated effort to distract the administration from its policy objectives.
Drawing from personal experience, Wike recalled how he was previously the victim of what he described as fabricated allegations designed to tarnish his reputation. “Someone once claimed he knew my children and alleged that my son collected two million dollars after speaking with me about land. We investigated the matter and discovered that my son had travelled on a British Airways flight that morning, whereas the alleged transaction was said to have taken place at night,” he said. He disclosed that some people advised him to quietly settle the matter to avoid negative publicity, but he refused. “One of them told me that because of my position, I should settle it. I asked, ‘Settle what?’ This is cheap blackmail. I will not allow that,” he said. The minister used his personal experience to illustrate how false allegations can be weaponised against public officials, urging Nigerians to be cautious about accepting unverified claims at face value. He called on the media to exercise responsible journalism by verifying facts before publishing sensational stories that could harm the reputation of innocent individuals, warning that such tactics undermine public trust in governance.
The FCT minister also faulted calls by former Vice President Atiku Abubakar for opposition parties to be included in the investigation ordered by President Tinubu. “The demand by Atiku is rubbish. When did the government start? When they want to put the person, okay, you from party A, come; party B, come; party C, come?” he said. He accused the opposition of attempting to exploit the controversy for political advantage, noting that statements condemning Gbajabiamila were issued almost immediately after the allegations surfaced. “A man accused the Chief of Staff today, and by the following morning, the opposition had already issued a statement. What is the business of people like Atiku if it is not politically driven?” he asked. Wike further criticised the opposition’s approach, stating that their eagerness to condemn without waiting for investigation outcomes reveals their political agenda. He called on Nigerians to reject attempts by opposition figures to turn every national issue into a political battlefield, insisting that institutions like the ICPC should be allowed to do their work without interference. He also questioned the consistency of the opposition, noting that similar calls for transparency were absent when they held power.
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The minister insisted that no public official should be condemned or dismissed based on unverified allegations. “People are saying the Chief of Staff must be sacked. By who? The opposition? Why should he be sacked over unproven allegations? That is not how government works,” Wike said. He argued that calls for Gbajabiamila’s removal were premature and designed to pressure the President into making a hasty decision that could set a dangerous precedent. “Government has asked the ICPC to investigate because it is a criminal allegation. You don’t ask people to step aside simply because somebody made an accusation. Let the investigation establish the facts first,” he said. Wike alleged that some political actors were seeking to use the controversy to attack the Tinubu administration. He also criticised Labour Party presidential candidate in the 2023 election, Peter Obi, accusing him and his supporters of turning national issues into political debates instead of allowing institutions to carry out their responsibilities. “Everything cannot be politics. They have never been consistent, so I don’t take many of those comments seriously,” he said, adding that the opposition’s fixation on every government action reflects a lack of constructive engagement with policy matters.
During the same media chat, Wike also addressed his perceived unpopularity among civil servants, attributing it to his administration’s decision to block avenues for fraudulent diversion of public funds. “We waste our resources on frivolities. You expect me to approve funds for you to go to America for a one-week conference on land administration. What is that?” Wike queried. “Go to Lagos and Port Harcourt, study how their own works or did not work and make a comparison here. How do you encourage me to sign N20 million for somebody to travel to America for a conference on land administration? I won’t do that.” He disclosed that before he assumed office, about 65 per cent of the FCT budget was devoted to recurrent expenditure, but his administration reversed the ratio to 70 per cent capital expenditure and 30 per cent recurrent. “That is why I can’t be popular among civil servants. If you ask anybody today which minister they don’t like, it is me. Why? Because the money they used for conferences, I put it together and used it to build roads,” Wike said. He defended his approach to governance, stating that his priority is delivering tangible infrastructure and services to the people of the FCT rather than pleasing civil servants who may prefer business as usual. He also noted that his administration has completed several road projects and initiated new ones, which he believes are more beneficial to the majority of FCT residents than foreign trips and lavish conferences.
The minister also referred to the recent abduction of pupils in Oyo State, saying attempts to politicise the incident were unnecessary after Governor Seyi Makinde clarified that President Tinubu did not personally call him over the matter. Wike emphasised that security issues should be treated with the seriousness they deserve, rather than being turned into political tools for scoring points against the federal government. He called for unity in addressing the nation’s security challenges, stressing that political differences should not hinder cooperation between federal and state governments on matters of public safety. The minister also urged state governors to collaborate more effectively with federal security agencies to ensure the safety of all Nigerians, regardless of their political affiliations.
On opposition politics, Wike said many opposition parties were dealing with internal disputes rather than providing alternatives to the government. He rejected claims that the All Progressives Congress (APC) was responsible for the legal challenges facing opposition parties, including the African Democratic Congress (ADC). According to him, some parties created their own problems through internal disagreements and legal decisions. Referring to disputes involving the Independent National Electoral Commission (INEC) , Wike questioned why cases involving the commission, whose headquarters is in Abuja, were filed in other states. He suggested that opposition parties should focus on resolving their internal conflicts rather than blaming the ruling party for their misfortunes. He also observed that many opposition figures have been unable to provide coherent policy alternatives, choosing instead to criticise every government action without offering constructive solutions. He challenged the opposition to present their vision for Nigeria rather than engaging in what he described as “destructive politics” that does not serve the interest of the people.
Gbajabiamila Scandal a Plot to Embarrass Tinubu, Says Wike
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Properties Razed as Yoruba, Hausa Residents Clash in Ibadan
Properties Razed as Yoruba, Hausa Residents Clash in Ibadan
Properties were set ablaze on Wednesday as violence erupted between Yoruba and Hausa residents in the Ojoo area of Ibadan, Oyo State, throwing the community into panic and disrupting commercial activities.
The clash, which reportedly started in the early hours of the day, forced residents and business owners to flee for safety as hoodlums set buildings and shops on fire.
Eyewitnesses said the violence allegedly followed the fatal stabbing of a Yoruba tricycle mechanic, an incident that triggered reprisals and heightened ethnic tensions in the area.
Several structures, including a plastic recycling facility and a scavengers’ depot popularly known as “Bolla,” were reportedly razed during the unrest, while thick smoke billowed across parts of the community.
The disturbance also caused heavy traffic congestion along the busy Ojoo axis as commuters abandoned their vehicles and sought safer routes.
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Security operatives, including personnel of the Nigeria Police Force, the Nigerian Army, Operation Burst and the Oyo State Security Network Agency, codenamed Amotekun, were deployed to the area to restore order and prevent the violence from spreading.
Witnesses said security personnel fired tear gas to disperse the rampaging groups, while patrol teams took strategic positions around the affected community.
Although the situation was gradually brought under control, tension remained high as residents stayed indoors and many businesses remained shut.
As of the time of filing this report, the Oyo State Government and security agencies had yet to issue an official statement confirming the cause of the clash, the extent of damage or whether there were casualties.
Authorities urged residents to remain calm and refrain from spreading unverified information while investigations into the incident continue.
Properties Razed as Yoruba, Hausa Residents Clash in Ibadan
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PFIPC Scandal: Adeyemi Pledges Full Cooperation with ICPC, Vows to Submit Documents to DSS
PFIPC Scandal: Adeyemi Pledges Full Cooperation with ICPC, Vows to Submit Documents to DSS
The embattled self-acclaimed Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Adeyemi, has declared his readiness to cooperate fully with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and other security agencies investigating the controversial agency, insisting he will submit all documents in his possession to the Department of State Services (DSS) or the Nigeria Police Force. Adeyemi made this known on Tuesday during an Instagram interview with social media personality Martins Otse, popularly known as VeryDarkMan, just hours after President Bola Tinubu directed the ICPC to investigate the activities of the purported council and submit a comprehensive report within 30 days. He stated that he was prepared to assist any security agency or investigative panel established by the President to uncover the truth behind the controversy, adding that he had nothing to hide and was ready to allow security agencies to examine the records in his possession. According to Adeyemi, the documents in his possession should be subjected to proper verification to determine their authenticity, stating, “They should authenticate them. They should verify them. They should unravel the truth”. He promised to submit himself and all relevant documents to either the DSS or the police, saying, “In fact, any moment from now, I will go to the DSS or the police to submit all the documents I have to help them investigate and look into this matter”.
Adeyemi also questioned the Presidency’s position that the PFIPC never existed, asking how the council was captured in the 2026 Appropriation Act with a budgetary allocation of N1.3 billion. He maintained that he could not have influenced the budget process because he was in detention while the budget was being prepared. According to him, he was invited by the Nigeria Police Force on October 27, 2025, over a petition allegedly filed by the President’s Chief of Staff, Femi Gbajabiamila, questioning the activities of the PFIPC. He claimed he honoured the invitation and was interrogated about the agency and his appointment letter, and remained in detention for 23 days, from October 27 to November 19, before being charged to court on November 27. “When the Presidency, through the Chief of Staff, said the agency does not exist, I wondered how an agency that found its way into the national budget could suddenly be described as fake. I was in detention for 23 days during the period the budget was being prepared. I did not prepare or defend any budget, and nobody went to defend it on my behalf. That is why I am confused about how the agency found its way into the national budget,” Adeyemi stated.
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Adeyemi further claimed that by the time he regained his freedom, the office space used by the alleged agency had been reallocated to another government official, and he has not returned to the office since his arrest on October 27. He questioned how lawmakers and other relevant authorities failed to detect what the Presidency now describes as a non-existent agency before the budget was passed and signed into law. The Senate has since distanced itself from the allocation, with the Chairman of the Senate Committee on Media and Public Affairs, Yemi Adaramodu, stating that the budget line was neither created nor inserted by the legislature. The Senate also rejected a motion seeking an investigation into the inclusion of the PFIPC in the budget, preferring to await the outcome of the ongoing ICPC probe.
On his earlier allegations involving the President’s Chief of Staff, Femi Gbajabiamila, Adeyemi declined to make fresh accusations, saying only an independent investigation could establish the facts. “I wouldn’t say he’s lying, and I wouldn’t say he’s telling the truth. That is why I requested that Mr President set up an investigative panel to unravel the truth, so we will know those involved,” he stated. Adeyemi further alleged that he survived an attack by gunmen near Zuma Rock in September 2025 and insisted his involvement with the council was motivated by a desire to attract foreign investment into Nigeria. “I don’t really have a negative plan. It’s all about passion for the country. That agency is to bring foreign investors to Nigeria and make Nigeria a preferred destination for investment,” he said.
President Tinubu had earlier directed the ICPC to investigate the activities of the alleged council, including forged appointment letters and other government documents allegedly used by Adeyemi to seek official recognition, diplomatic support, visa facilitation, and to open multiple bank accounts in the names of government agencies. The directive followed sustained public scrutiny over claims that the PFIPC operated from the Federal Secretariat, maintained accounts with the Central Bank of Nigeria, and received a N1.3 billion allocation in the 2026 Appropriation Act despite the Presidency’s insistence that no such agency was ever created. The Presidency has reiterated that the Federal Government did not establish the PFIPC and that police forensic analysis confirmed the signature on Adeyemi’s purported appointment letter from the President’s Chief of Staff was forged. President Tinubu has ordered that all persons found culpable be treated strictly in accordance with applicable law, stressing that the integrity of the Presidency and federal institutions “must be protected against impersonation, forgery, abuse of official identity and the exploitation of weaknesses in the public service”.
PFIPC Scandal: Adeyemi Pledges Full Cooperation with ICPC, Vows to Submit Documents to DSS
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