Former Nigerian Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has accused President Bola Tinubu’s administration of presiding over deep-rooted institutional corruption following the International Monetary Fund’s (IMF) disclosure that public expenditure equivalent to two per cent of Nigeria’s Gross Domestic Product (GDP) was omitted from recent national budgets.
In a statement released by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku argued that the IMF’s findings, combined with the controversy surrounding the alleged Presidential Foreign Intervention Promotion Council (PFIPC), point to a broader pattern of weak financial oversight and opaque public spending.
He questioned who authorised and benefited from the unbudgeted expenditure, insisting that the missing funds represent not just an accounting issue but a constitutional, legal and moral concern.
“The Constitution is clear that public funds can only be spent with approval from the National Assembly. Nigerians deserve to know who authorised the missing two per cent of GDP, who spent it and who benefited,” Atiku said.
The former vice president also linked the IMF’s disclosure to the ongoing PFIPC controversy, describing it as evidence of what he called a culture of institutional corruption within government. He argued that while critical sectors such as healthcare reportedly received only a fraction of their approved allocations, a controversial agency allegedly secured billions of naira despite questions surrounding its legal status.
Atiku called on Secretary to the Government of the Federation George Akume to explain how the agency was recognised by government institutions and demanded a transparent investigation into allegations made by Prince Adeniyi Adeyemi, a central figure in the controversy, including claims of a requested 48 per cent kickback tied to a proposed ₦27.3 billion take-off grant.
He urged the Auditor-General of the Federation, the Public Accounts Committees of the National Assembly, the Economic and Financial Crimes Commission (EFCC), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the allegations and establish accountability.Atiku maintained that the issue goes beyond politics, saying it raises fundamental questions about transparency, fiscal discipline and the rule of law in Nigeria. He insisted that every expenditure should be traced and any official found culpable should face prosecution.
