The Africa Democratic Congress Presidential candidate, Atiku Abubakar, has called for the resignation of President Bola Tinubu over the controversial Presidential Foreign Investment Promotion Council (PFIPC Scandal).
Atiku noted that the scandal has exposed a federal government trapped by its own contradictions.
The BoT chairman credited last Friday’s Federal High Court judgment with restoring confidence in the party, urging remaining opposition factions within the leadership to embrace the current political reality.
He noted that the court’s ruling aligns with an earlier Supreme Court precedent, reinforcing the party’s commitment to upholding the rule of law.
While addressing the House panel, the CBN admitted to setting up two domiciliary accounts for the PFIPC at the request of the Accountant-General’s office, though Atiku highlighted that this statement directly clashes with the Accountant-General’s account.
The CBN told lawmakers investigating the non-existent agency that it established two foreign-currency accounts for the PFIPC following instructions from the Office of the Accountant-General, a claim Atiku noted is at odds with the Accountant-General’s official position.
PFIPC Scandal…
The PFIPC scandal first came to public attention after allegations emerged that officials of the Police Force Insurance Processing Centre (PFIPC) had diverted billions of naira meant for the payment of insurance benefits to families of deceased police officers and personnel injured in the line of duty.
The allegations triggered widespread outrage, with critics accusing those involved of exploiting one of the most vulnerable groups within the Nigeria Police Force—families waiting for death benefits and compensation. Investigations by anti-graft agencies subsequently uncovered suspected cases of fraud, money laundering and abuse of office, leading to the arrest and prosecution of several officials linked to the scheme.
The scandal has since resulted in a series of legal actions, including the arrest of senior PFIPC officials, court-ordered asset forfeitures and the recovery of properties allegedly acquired with proceeds of the suspected fraud.
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Backstory…
Amid the PFIPC scandal, calls for President Bola Tinubu’s resignation have grown louder in recent months as opposition leaders and civil society groups continue to fault his administration’s handling of the economy and worsening insecurity.
NDC presidential candidate, Peter Obi has repeatedly argued that Nigeria is facing an unprecedented governance crisis, insisting that the country deserves more competent and compassionate leadership.
Other opposition figures, including former Vice President Atiku Abubakar and human rights activist Omoyele Sowore, have also intensified criticism of the administration, accusing it of failing to tackle rising inflation, hunger, unemployment and violent attacks across several parts of the country.
