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APC and opposition clash over FG’s revenue growth claim

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The All Progressives Congress and opposition parties on Wednesday clashed over President Bola Tinubu’s claim that Nigeria has already achieved its 2025 revenue target.

While the APC insisted that the President has placed Nigeria on the path of economic recovery, the African Democratic Congress, Labour Party, New Nigeria Peoples Party and the Coalition of United Political Parties accused Tinubu of celebrating statistics while citizens struggle under severe economic hardship.

Also, economists expressed scepticism about the President’s assertion that the Federal Government had stopped borrowing locally, as they called for clarification from the managers of the economy.

The experts pointed to the continuous debt market operations by the Debt Management Office and the Central Bank of Nigeria, questioning the president’s assertion and its alignment with the current economic realities.

For years, Nigeria has depended heavily on crude oil, which accounts for about 70 per cent of government revenue and over 90 per cent of foreign exchange earnings.

Successive administrations have repeatedly promised to diversify the economy, yet oil has remained the main source of revenue.

In 2023, upon assuming office, President Tinubu launched a series of reforms aimed at repositioning the economy.

One of his most significant steps was the removal of fuel subsidy, a policy that has since triggered severe economic hardship. The removal pushed up transport costs, worsened food inflation, fuelled a foreign exchange crisis, and deepened the overall cost-of-living burden for millions of Nigerians, while freeing more revenues for the government.

Although federal allocations to states have increased under Tinubu’s administration, the impact has not been felt at the grassroots level.

Poverty, insecurity, and other social vices have continued to escalate, forcing many Nigerians to seek greener pastures abroad.

While the reforms have delivered some marginal gains, the weight of hardship on ordinary citizens remains overwhelming.

However, on Tuesday, Tinubu announced at the Presidential Villa that the country had hit its 2025 revenue projection in August, attributing the feat to gains from the non-oil sector.

According to his Special Adviser on Information and Strategy, Bayo Onanuga, the President disclosed this while receiving the founding members of the defunct Congress for Progressive Change and The Buhari Organisation, led by former Nasarawa State governor, Umaru Tanko Al-Makura.

“The economy is now stabilised. Nobody is trading pieces of paper for foreign exchange anymore. The economy is now predictable. You do not need to know the CBN Governor, Yemi Cardoso, to obtain foreign exchange or import goods,” Tinubu said.

“The President highlighted the significant growth in non-oil revenues accruing to the Federation, federal, state, and local governments. From January to August 2025, total collections reached N20.59 trillion, a 40.5 per cent increase from N14.6 trillion recorded in 2024. This strong performance aligns with projections, placing the government firmly on course to achieve its annual non-oil revenue target,’’ the statement added.

According to the statement, the President also said that the Federal Government is no longer borrowing from local banks to buttress the strong fiscal performance since the start of the year.

TInubu, who linked the development to his economic reforms, promised that his Renewed Hope Agenda would continue to prioritise infrastructure renewal, healthcare, food sovereignty, and security.

The ruling APC backed Tinubu’s declaration that Nigeria had hit its planned revenue target in August.

The Deputy National Organising Secretary, Nze Chidi Duru, disclosed this in an interview with The PUNCH.

He said, “We support the President because if the target revenue for the year has been met in August, it then shows that the budget is capable of implementation. It means that what is set in the agenda of the budget will be implemented and that the government would not, as had been the case before, borrow money to be able to fulfil the budget of 2025.

“And then that eases pressure on the part of the government to now begin to have money to deliver the infrastructural development that it had targeted in the course of the year.”

Duru insisted the government’s achievement would have a spiralling effect on the economy.

“It will have a trickle-down effect on all borrowings. So the government would not be under any pressure. It also shows that the government can fund and finance the relevant projects that it needs to address the infrastructure deficit in the country, including overhead costs, which has been the major issue in the country,” he stated.

On the perception that the current administration may still have its eyes set on bonds and other loans from the IMF, the APC chieftain argued that it was a figment of the imagination of critics.

The Special Adviser to President Bola Tinubu on Policy Communication, Daniel Bwala, challenged critics of the President’s assertion on meeting the government’s revenue target and not borrowing locally to provide contrary facts.

Bwala, who spoke on Wednesday evening, accused the opposition of being blind and purposeless in their criticism of the President’s statement.

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He said, “The problem the opposition has is comprehension. They have sight but cannot see. They have ears but cannot hear.

“If you hear what Mr President said yesterday, it is quite clear, concise and self-explanatory.

“I challenge the opposition to come with facts and numbers to counter that; and I will kindly urge the press to ask them for specifics; otherwise, they are just attacking without purpose.”

But the opposition parties faulted the celebration of revenue figures in the face of biting inflation, high food prices, and currency depreciation.

Speaking in an interview with one of our correspondents, the ADC National Publicity Secretary, Bolaji Abdullahi, dismissed the President’s declaration as absurd.

He described the APC-led Federal Government’s economic policy as strange, stressing that the revenue target has no meaningful impact on the lives of the citizens.

The ADC Publicity Secretary stated, “What is the essence of the revenue target if it has no direct impact on the lives of the people? What is the purpose of this revenue target if it does not have a direct impact on improving the lives of the people?

“Their economic policy is weird because any economy that does not put the people first cannot really claim to be doing anything. People don’t feel it. The reality that they are proclaiming is different from the reality of the life of the ordinary Nigerian. Nigerians want to see impact. They want to see improvement in their lives.”

He expressed concern that most Nigerians remain trapped below the poverty line.

Abdullahi continued, “I will give you one quick example. You know, the minimum wage, the APC-led government set it at N70,000. Even if it is fixed, it puts the majority of Nigerians below the poverty level.

“The majority of Nigerians will still live below the poverty level. So, that’s what we don’t understand about this claim about generating revenue targets when it does not have any impact.

“When the people cannot see it, they cannot see it. What is the purpose of revenue? They have borrowed so much money, leaving the country with so much debt. And we cannot see what they used the money for.

“And it’s on that basis that the President is claiming that they have met the revenue target. So, it’s absurd. You know? It’s absurd.”

The New Nigeria People’s Party also dismissed the President’s claim, arguing that governance is not just about increasing revenue.

The NNPP National Publicity Secretary, Ladipo Johnson, said, “My question is, if Tinubu meets his revenue targets, has he met the target set out to ensure he looks after the welfare of the people of this country? His government is a tax-and-spend government.

“He believes that when revenue is coming in, that means it is working. Meanwhile, you are turning the screw on the people of the country who are already suffering. Everything shouldn’t just be restricted to revenue.”

The NNPP stated that while the President may have achieved his personal target, he has yet to meet the expectations of the citizens.

“Yes, it is good that the government makes money. But has the same government cut down its costs? Are the revenues meant to buy SUVs, regulate the Presidential Villa and augment the presidential fleet? These are the questions.

“So, no matter how low or high the bar is, the President set the target himself and has marked his own exam. But what about the target we set for him as a people? He hasn’t met our own target. Inflation is still high, and the naira has lost value. It’s presently at N1,600. So, let him talk about the targets we have set him for as a people.”

Also reacting, the CUPP National Secretary, Peter Ameh, in an interview with The PUNCH, said President Tinubu is disconnected from the realities facing Nigerians.

“I think the president is misunderstanding the yearning and the problems of Nigerians. He’s misunderstanding it in a great deal because he himself, as a president, is disconnected from reality. He has created an alternate universe for himself where he thinks that he’s living in the presidential field and doesn’t know what Nigerians are going through.

“He doesn’t know what Nigerians are going through. So, he thinks that taxing Nigeria and collecting revenue that does not have a direct reflection on the lives of the people is an achievement.

“One of the things he has done is that when he collects his revenue, what are the priorities of investments where he puts this money? Which area is he putting the money into that reflects on the lives of the people? It’s not about meeting the revenue target; Is the life of Nigerians better? Is he investing in healthcare? Is he investing in agriculture? Is he investing in our SMEs that will generate more revenue?

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“What he’s doing, the president has decided to tax us, generate enough revenue, yet he’s making so much, he’s still borrowing so much money. If we are meeting this revenue target, then our level of borrowing should have reduced,” he submitted.

The CUPP scribe alleged that both the revenue and borrowed funds are being diverted to finance the private lifestyles of those in power.

“What he’s doing with the money is like, he’s spending more on transportation costs, on overseas travel, he’s spending a lot of money, and he’s spending more on luxury; luxurious lifestyles of those in government.

A factional spokesman for the Labour Party, Tony Akeni, berated the President and his party for what he described as a habitual resort to falsehood.

“I am happy Nigerians now know that the middle name of the APC is lies. This is because you cannot say you have walked away from taking loans and then try to hide in-between local and international ones. Yet, you were making this declaration on the international stage.

“Are you aware that Chatham House, London, has taken him up on this falsehood? They have countered him. And you will see that the contradiction is traditional with President Tinubu and his political party.

“It is all to pump false confidence in the country and give weapons of arrogance for the followers of the APC and their zealots to keep pushing the wrong narrative to deceive Nigerians.”

He wondered why the government was taking loans if it had met its revenue target.

“But there is nothing like that because if they have reached their thresholds or their targets of local revenue generation, why would they add to the burden of Nigeria by borrowing extensively from the foreign arena, where the interests are higher, conditions more stringent and where the fallouts result in more pains and sufferings both in the immediate period and the time to come.

“So the position of the Labour Party is that it is all lies and Nigerians should be doubly vigilant because any time a lie is told, it means there is a tough conspiracy behind the curtain.’’

In a related development, economists have expressed scepticism about the President’s statement on not taking local loans anymore.

A renowned economist, Professor Akpan Ekpo, expressed surprise at the claim, stating, “Maybe he has information we don’t have. But they are still borrowing externally. DMO is still issuing financial papers, and then the Central Bank is still involved in the debt market, and the Central Bank is part of the government. They are involved in Open Market Operations and all those things. So, I don’t know what he means by not borrowing.”

He further noted that meeting revenue targets would be positive, with funds ideally directed towards crucial sectors like health, education, and infrastructure.

“If they have met the revenue target, that’s fine. I would hope that the remaining will be used to address issues in the economy of Nigeria. We should put the money into health, education and infrastructure. When I heard the President say that, I was surprised. I don’t know what he means,” he said.

Prof Ekpo also emphasised that borrowing can be beneficial for financing infrastructure, provided transparency is maintained. “If the country is not borrowing, it’s not something to be proud of, because sometimes it’s good to borrow to finance infrastructure, once they are transparent.”

Also, Prof Segun Ajibola of Babcock University highlighted that the half-year figures released by relevant authorities up to the end of June showed Nigeria had barely crossed half of its 2025 revenue target.

He stressed the need for further clarification from the Minister of Finance and the Debt Management Office regarding the President’s statement.

“Looking at the figures released as of the end of June, the half-year figures by respective authorities, the fiscal authority, the monetary authority, and even the debt management office. At that point, it showed that Nigeria barely crossed half the target for 2025.

“So, I wouldn’t know what might have transpired in July and August.  I am not in possession of more accurate data than government functionaries. Maybe, we need to hold our breath and wait for further clarification, especially from the Minister of Finance and also from the Debt Management Office,” Ajibola said.

If indeed the annual revenue targets had been met in August, as stated by the President,  Ajibola called for ideas on how to better utilise any potential surplus revenue from September to December, saying, “If indeed we have been able to meet the annual revenue target in August, then it is wonderful. What then happens to the revenue flow from September to December? We can start brainstorming on what to do with that surplus.”

The Chief Executive Officer of Arthur Stevens Asset Management, Tunde Amolegbe, offered an alternative interpretation, suggesting that the President’s statement might refer to not exceeding the projected N13 trillion fiscal deficit.

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“The truth of the matter is that you know, some of these statements one needs to put in perspective. It’s very possible that what he meant was that we are not going to borrow beyond the N13tn gap, which was estimated in the project in the first place.

‘’You remember that at the beginning of the year, because of the difference in the projected oil price that was used in the budget, compared to what the market price was, it was projected that the N13tn deficit might grow beyond that.

“However, now that it appears that the country has been able to increase production of crude, and also oil prices seem to have reached a level that is close to our price estimate used for the budget, it is very possible that what the president meant was that we are not going to go beyond the N13tn (fiscal) deficit that has been projected in the budget. Not that there won’t be any need to borrow,” he pointed out.

Amolegbe projected that continued borrowing will be necessary until the year-end, noting the recent DMO treasury auctions. “I suspect that we will probably still need to borrow between now and the end of the year. I mean, the DMO conducted a treasure auction yesterday (Tuesday). They conducted an auction a few weeks ago. I suspect there are other auctions still coming up.’’

A former Chief Economist at Zenith Bank, Marcel Okeke,  was more direct in his assessment, calling the claim “laughable” and “unrealistic”. He questioned the historical precedent of the government exceeding revenue projections by August in any fiscal year.

“Has it ever happened in this economy? By August, in any fiscal year, has the government made and exceeded its revenue projections? In order not to insult the president, I would say that the claim he made is laughable. But the claim doesn’t look realistic. It doesn’t seem as if it reflects reality because, from what we have been reading, there are a number of ongoing borrowing negotiations, whether from within or from without.

“They have surpassed their revenue targets by August, and they have stopped borrowing. I don’t know how to wrap my head around it.’’

A Professor of Forensic Accounting at Copperstone University, Zambia, Richard Mayungbe, described the Nigerian economy’s recent performance as a result of successful diversification from crude oil dependence.

Speaking on the President’s announcement, Mayungbe said the development reflects a deliberate effort to strengthen non-oil revenue streams.

“The President has diversified the economy from solely relying on crude oil to generating revenue from non-oil sources. This is a major boost for the country and ensures economic resilience,” he said.

According to him, restarting the economy after years of slow growth is a gradual process that requires courage and decisive leadership. He praised the administration for taking bold steps, including the removal of the oil subsidy, noting that the decision had already been necessitated by fiscal realities during the last days of the previous government.

He further highlighted improvements in foreign exchange management, pointing to the unification of multiple FX windows and the stability of the naira. “You no longer have to depend on the Central Bank for access to foreign exchange. Most banks now allow naira cards to be used internationally, which is a sign of a stabilising economy,” Mayungbe argued.

However, in a review of the half-year done by multiple investment houses, borrowings had been projected to increase in H2.

Cardinal Stone mid-year outlook titled, ‘Charting The Sustainability Path,’ noted that Nigeria mostly relied on the domestic market for deficit financing in the first half of the year, with the government issuing about N3tn via Treasury Bills and Bonds, suggesting that a further net issuance of about N10.08tn may be required to cover the estimated deficit for 2025.

During the first half, the Federal Government sought National Assembly approval for $21.00bn, €2.20bn, and ¥15.00bn under its rolling borrowing plan.

Projecting, the analysts said, “We expect a notable increase in external sourcing in H2 25. Precisely, the government has set its sights on raising $1.20bn through the Debt Management Office and a further $2.00bn at concessionary rates through multilateral sources.

‘’These numbers suggest that a cumulative total of N4.90tn (using the official exchange rate of $1,530.00/$ as of June 1, 2025) may be sourced from abroad, with the balance of N5.19tn likely to be raised from the domestic market after catering to rollovers.

 “We are of the view that a part of the external borrowings may be used to finance the $1.12bn Eurobond maturity due in November and cumulative coupons of c.$1.38bn,” the report added.

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Politics

Osun account freeze: EFCC boss faces public fury, as Tinubu reverses order

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President Bola Tinubu’s directive ordering the Economic and Financial Crimes Commission to reverse the freezing of an Osun State Government account has triggered fresh political controversy, with opposition parties questioning the President’s explanation, lawyers and civil society groups backing the intervention, the Osun State Government dragging the commission to court, and scores of Nigerians on social media demanding the resignation or removal of the EFCC Chairman, Ola Olukoyede.

The EFCC on Wednesday directed that no money be withdrawn from the Osun State Government’s statutory allocation account as part of an ongoing investigation.

The anti-graft agency, in a statement, said the action followed suspicious movement of funds amid an ongoing investigation into alleged fraudulent handling of about N11billion in Ecology Funds, Intervention Funds and Federal Account Allocation Committee allocations.

Tinubu, in a personally signed statement on Thursday, directed the anti-graft agency to immediately approach the court to vacate the order freezing the account and discontinue the action, saying although he was yet to be fully briefed on the circumstances surrounding the case, the timing of the restriction was inappropriate given the August 15 Osun governorship election.

Reversing the agency’s decision, Tinubu, in the statement titled ‘President Tinubu Directs EFCC To Vacate The Court Order Freezing Osun Government Account’, said he felt “deeply embarrassed not by the EFCC’s exercise of its mandate backed by a court order, but by the timing of the agency’s action.”

The President said no action by any federal institution should create the impression that the Federal Government was attempting to influence the outcome of the poll.

“Osun State is only a few days away from its gubernatorial election. Therefore, nothing ought to be done to give an impression that the EFCC or indeed any other agency of the Federal Government is being used to interfere with the election,” the statement partly read.

“I am not in the slightest doubt that the timing of the action of EFCC is inauspicious,” Tinubu said, adding that while anti-corruption agencies must remain independent, preserving public confidence in the credibility and fairness of elections was paramount.

“Accordingly, I have directed the EFCC to immediately proceed to the court to vacate the order and discontinue whatever action it has instituted against the Osun State Government in this regard,” he added.

The directive followed the EFCC’s decision to restrict one of the state’s statutory allocation accounts over an investigation into the alleged diversion and laundering of about N11bn.

Defending the action earlier on Thursday, the EFCC’s Director of Public Affairs, Wilson Uwujaren, said the commission acted under Sections 34 of the EFCC Act and 7(6) of the Money Laundering (Prevention and Prohibition) Act, 2022, which empowered it to place a temporary restriction on suspicious accounts for up to 72 hours before obtaining a court order where necessary.

Uwujaren insisted the commission did not freeze all Osun State accounts but only placed a temporary restriction on one statutory account after detecting what it described as suspicious transactions.

He disclosed that investigations into the state began in March and that intelligence gathered from August 2 necessitated urgent intervention to preserve public funds, adding that similar action was taken in Edo State before its governorship election.

The EFCC maintained that its action was unrelated to politics and was purely driven by its statutory anti-corruption mandate.

Legal tussle

In response to the EFCC’s actions, the Osun State Government on Thursday, filed a suit against the commission, seeking to nullify the account freeze and asking the court to award N2bn in exemplary damages against the commission.

The suit, marked FHC/ABJ/CS/1762/2026, was filed on August 5 (Wednesday) before the Federal High Court in Abuja.

Governor Ademola Adeleke, the state’s Attorney-General and the state’s Accountant-General are listed as plaintiffs, while the EFCC, its Executive Chairman and First Bank of Nigeria Limited are named as defendants.

The state is asking the court to determine whether the anti-graft agency’s directive to First Bank to freeze the account “does not constitute an egregious act of executive lawlessness, an unlawful resort to self-help, a flagrant abuse of statutory powers, an unlawful suppression of the constitutional powers and functions of the plaintiffs, a threat to the constitutional and corporate existence of Osun State, a brazen and unlawful denial of the democratic rights and dividends of the people of Osun State, and a direct violation of the fundamental constitutional principles of due process, the rule of law, and the financial autonomy of a federating unit?”

According to the originating summons, the EFCC had, in a letter dated August 5, 2026, with reference number CR:3000/EFCC/ABJ/HQ/PFS/TA/OSUN/VOL.17/666, directed First Bank to freeze the state’s statutory allocation account.

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The plaintiffs contend that neither the EFCC nor the bank can lawfully restrict access to the account without a subsisting court order.

Among the reliefs sought, Osun is asking the court to declare the freeze unlawful, unconstitutional, null and void; to declare that the EFCC cannot restrict a state’s statutory account by mere administrative directive; to set aside the freeze; to issue perpetual injunctions restraining further interference with the account without judicial authorisation; and to award N2bn as exemplary and aggravated damages for what it described as unlawful interference with public funds.

Adeleke is seeking re-election for a second term on the platform of the Accord Party.

In recent weeks, the state has witnessed heated exchanges between the governor’s supporters and those of the All Progressives Congress, which is seeking to reclaim the state after four years.

The governor’s camp has accused the APC of using federal agencies, including the police and the EFCC, to intimidate Accord Party supporters ahead of the poll — a claim the APC has denied.

Osun denies allegation

The Osun State Government dismissed the commission’s claim that the restriction was linked to the alleged diversion of N11bn, describing the allegation as an afterthought intended to justify an illegal action.

In a statement by the state Commissioner for Information and Public Enlightenment, Kolapo Alimi, the government alleged that the real reason the EFCC froze the account on the order of a former governor of the state, Gboyega Oyetola, was to stop the payment of palliatives the state government had promised workers some months ago.

The state also accused the EFCC of conducting what it described as a witch-hunt since March without finding any evidence against government officials, insisting that Osun had consistently maintained high standards of fiscal transparency.

Governor Adeleke had earlier challenged the EFCC chairman Ola Olukoyede to explain why the account was frozen, insisting the action was taken without a court order and amounted to an assault on democracy.

Atiku faults Tinubu

The opposition African Democratic Congress welcomed Tinubu’s decision to reverse the EFCC action but argued that the President’s explanation had raised more questions than it answered.

In a statement by its National Publicity Secretary, Bolaji Abdullahi, the party challenged Tinubu to explain his repeated references to an alleged court order authorising the account freeze, insisting that the EFCC never mentioned obtaining such an order in any of its public statements.

“What we find most curious about the statement is the President’s repeated reference to an alleged court order authorising the freezing of the Osun State Government’s accounts,” the statement said.

“In all of its public statements on this matter, the EFCC never once claimed that it had obtained a court order. The commission consistently defended its actions on the basis of its statutory powers and what it described as its preventive mandate. At no point did it inform Nigerians that a court had authorised its actions,” Abdullahi said.

The ADC argued that if the President could direct the EFCC to discontinue proceedings, then the long-standing claim that anti-corruption agencies operated independently of the Presidency had effectively collapsed.

It also questioned why the President personally signed the statement announcing the directive and urged him to exercise similar authority by directing the ICPC to stop opposing the bail application of former Kaduna State Governor, Nasir El-Rufai.

“The President also insists that he does not interfere in the operational activities of anti-corruption agencies, yet, in the same statement, he publicly announces that he has directed the EFCC to approach the court, vacate the alleged order and discontinue its case.”

Former Vice President Atiku Abubakar also stated that Tinubu’s directive had exposed presidential control over anti-corruption agencies.

In a statement by his spokesman, Phrank Shaibu, Atiku said the President could no longer claim the EFCC was operationally independent after publicly directing it to withdraw from court proceedings.

“It is impossible to ignore the implications of freezing a state’s principal operational account on the eve of a governorship election. Such an action could disrupt governance, delay salary payments, impede essential public services and create an atmosphere of intimidation that has no place in a democratic society,” Atiku said.

He maintained that if Tinubu could intervene in the EFCC matter involving Osun, he should equally direct the ICPC in the El-Rufai case.

Earlier, Atiku had accused the Federal Government of weaponising the EFCC against opposition-controlled states, warning that freezing Osun’s statutory allocation account days before the election amounted to intimidation capable of undermining confidence in the poll.

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“If the President possesses the authority to direct the EFCC to withdraw from court proceedings because the political consequences may affect an election, then it follows that he possesses the authority to direct the commission in other operational matters as well.

“If there are legitimate concerns requiring investigation, the law provides due process. Anti-corruption agencies must not conduct themselves in a manner that creates the perception that they are being deployed to influence political outcomes or weaken elected governments at critical electoral moments.

“The selective and politically convenient deployment of state institutions diminishes public trust and weakens the democratic order. Institutions established to enforce the law must never become instruments for creating fear or conferring political advantage” he added.

Olukoyede under fire

Beyond the legal and political arguments, the controversy also sparked widespread criticism of EFCC chairman Ola Olukoyede across X and Facebook, with many users demanding his resignation or removal.

On X, @Otunse1 wrote that Olukoyede should immediately tender his resignation letter, describing his continued stay in office as “clear evidence that he is being influenced.”

A.M. Temidayo (@AnewNaija) alleged that the EFCC chairman had presided over the erosion of the commission’s credibility, stating “By the time Ola Olukoyede exits the EFCC, his departure will be the most ignominious in the commission’s history.  When the records are written, he will not be remembered as an anti-corruption czar. Under his watch, an institution meant to fight corruption became an instrument for settling political scores. That is the legacy he is carving for himself.”

Samuel Omogor (@SamuelOmogor) accused the commission of selectively targeting opposition-controlled states, while Nefertiti (@firstladyship) said Olukoyede had abused his office and should honourably step aside.

Political commentator J.J. Omojuwa (@omojuwa) also described the entire EFCC-Osun controversy as a mess, adding that there was “only one solution.”

Several citizens also expressed similar sentiments on Facebook, venting their anger on Olukoyede.

Gbenga Shoyemi argued that if Tinubu truly had no prior knowledge of the EFCC’s action, Olukoyede should be removed for embarrassing the country’s democratic system.

“If President Bola Ahmed Tinubu was truly unaware of Ola Olukoyede and his team’s nebulous decision to freeze the Osun State Government’s account, then the EFCC chairman, Ola Olukoyede, should be sacked immediately for actions that have brought embarrassment to our democratic system,” he wrote.

Onatoye Temitope Michael questioned the chairman’s integrity and capacity, stating that Olukoyede “doesn’t have the integrity and capacity to remain as the boss.”

In a short post, Segun Ben-Ajayi said Tinubu had effectively thrown the EFCC chairman under the bus, adding that the President had shown more integrity than Olukoyede, a Pastor with the Redeemed Christian Church of God.

“If Tinubu is more ethical than you (Olukoyede) as a pastor, then you are worse than Judas Iscariot,” he stated.

Deji Fasusi argued that Olukoyede should honourably resign following the President’s intervention, saying the commission’s conduct amounted to an abuse of public institutions.

Another Facebook user, Dada Bukola Francis, called on the EFCC to restore public confidence by demonstrating fairness and transparency, while Francis Gbenga Silas urged that Olukoyede be reprimanded over what he described as interference in Osun State affairs ahead of the election.

Lawyers, CSOs react

Constitutional lawyer and Principal Partner at Liberty Semper Fidelis LP, Tokunbo Afikuyomi, commended Tinubu’s intervention, describing it as a demonstration of commitment to constitutional democracy and electoral fairness.

Afikuyomi, however, stressed that while the President acted appropriately, the EFCC must return to court to seek the discharge of the freezing order rather than relying on executive fiat.

He said the President’s approach respected the constitutional doctrine of separation of powers by allowing the judiciary to determine the matter.

The lawyer also urged all institutions involved in the Osun governorship election, including security agencies, the Independent National Electoral Commission, political parties, the media and the judiciary to emulate the President’s commitment to protecting the integrity of the electoral process.

Earlier, the President of the Nigerian Bar Association, Afam Osigwe (SAN), faulted the reported freezing of Osun State accounts, warning that any blanket restriction on a state’s finances without due legal process could cripple governance and amount to an abuse of power.

Also reacting, the Executive Director of the Civil Society Legislative Advocacy Centre, Auwal Musa Rafsanjani, said the controversy highlighted the need to harmonise constitutional provisions with statutes establishing anti-corruption agencies to eliminate legal overlaps.

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He said while the EFCC appeared to have acted within the powers conferred on it by law, the Osun State Government was equally entitled to challenge what it considered an encroachment on its constitutional autonomy.

Rafsanjani described Tinubu’s intervention as a political solution prompted by public pressure but maintained that preventive action remained an important component of anti-corruption efforts.

He said, “The EFCC has done what it has done based on the powers it has, and the state is also right to protest what it considers an encroachment on its autonomy. What we need is to harmonise the legal provisions so there is no contradiction.

He added that anti-corruption agencies should continue taking preventive measures to safeguard public funds but must ensure that every action conforms with the Constitution and the country’s federal structure.

Rafsanjani also warned that public resources at both the federal and state levels must not be deployed for election campaigns, stressing that the same standard should apply across the country irrespective of which political party controlled a state.

Similarly, the Executive Chairman of the Centre for Anti-Corruption and Open Leadership, Debo Adeniran, said Tinubu’s intervention appeared to have been prompted more by public outcry over the timing of the account restriction than by any conclusion that the EFCC acted unlawfully.

He said the President’s decision was aimed at protecting public confidence in the electoral process and distancing himself from allegations of political interference.

According to him, while the EFCC may have had legitimate reasons to investigate the transactions, enforcement actions capable of disrupting governance should have been delayed until after the governorship election.

“The President has just done the right thing by listening to the voice of the majority of Nigerians. If there are genuine reasons to investigate, the commission can continue monitoring the account and take appropriate action after the election,” Adeniran said.

He, however, maintained that state governments must not deploy public funds for electioneering, urging the EFCC to continue monitoring suspicious financial transactions while avoiding actions that could create the impression of interference in the electoral process.”

The controversy has deepened political tensions ahead of the August 15 governorship election, with the EFCC insisting it merely discharged its statutory responsibilities, the Osun Government now pursuing the matter in court, and opposition parties questioning the independence of anti-graft agencies.

‘Apologise to Tinubu’

Meanwhile, the Osun State chapter of the All Progressives Congress on Thursday called on Governor Adeleke to apologise to President Tinubu and the Minister of Marine and Blue Economy, Adegboyega Oyetola, over what it described as false accusations following the restrictions placed on the Osun State Government’s accounts by the EFCC.

Reacting to President Tinubu’s explanation on the matter, the Osun APC, in a statement signed by its spokesperson, Kola Olabisi, said the President did not absolve the Osun State Government of alleged complicity in the issues that led to the EFCC’s action.

The party said the President merely expressed concern over the timing of the EFCC’s action against the Osun State Government, noting that it had created room for political interpretations.

“The confused and frustrated Governor Ademola Adeleke and his misdirected political co-travellers must apologise to President Bola Ahmed Tinubu and Minister Gboyega Oyetola for wrongfully accusing them and the All Progressives Congress of setting the anti-graft agency against the Accord Party and Governor Adeleke.

“It should be noted that President Tinubu did not absolve the Osun State Government of being complicit in the raging EFCC allegations against Governor Adeleke and his administration. What the President frowned on was the timing of the EFCC’s action against the Osun State Government to prevent political meanings from being read into it.

“The development is a lesson for the Accord Party and its governorship candidate on the need to demonstrate political maturity by carefully processing their thoughts before making public statements. Enough of the needless gibberish directed at President Tinubu, Alhaji Oyetola and other APC leaders and members in Osun State,” the statement read.

The party further stated that President Tinubu’s directive on the EFCC-Osun State matter demonstrated his disposition as a father of the nation.

“We hope Governor Adeleke will learn from President Tinubu’s large-heartedness by withdrawing the political charges against the newly sworn-in executives of the National Union of Road Transport Workers. After all, one good turn deserves another,” the statement added.

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Kano APC chieftain hails Tinubu over rescue of 176 Kwara abductees

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An All Progressives Congress chieftain in Kano State, Musa Kwankwaso, has commended President Bola Tinubu for the Federal Government’s efforts in securing the rescue of 176 residents of Woro and Nuku communities in Kaiama Local Government Area of Kwara State.

The commendation was contained in a statement signed by Kwankwaso, a copy of which was made available to PUNCH Online on Thursday.

“As the 176 residents of Woro and Nuku communities in Kaiama Local Government Area of Kwara State, who were abducted on February 3, 2026, regained their freedom, it shows that President Tinubu is clearly working to free the nation from the bondage of insecurity,” the statement partly read.

Kwankwaso, who is the Director of Finance, Hadejia Jama’are River Basin Development Authority, noted that the rescue, which was carried out by the Nigerian military, brought to an end nearly six months of anguish for the victims’ families.

Recall that the Kwara State Government announced the development on Wednesday through its official Facebook page, describing the rescue as a major breakthrough and commending President Bola Ahmed Tinubu, security agencies and everyone who contributed to the operation.

“The opposition should learn to appreciate government efforts when there is a breakthrough in the security challenges facing the nation”, Kwankwaso added.

Kwankwaso also commended the National Security Adviser, Nuhu Ribadu, the two Ministers of Defence and the Service Chiefs for the rescue of the 176 abducted Kwarans, adding, “This is a clear testament that sooner rather than later, the security challenges in the country will become a thing of the past.”

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He expressed optimism that Nigerians, especially Northerners, would reciprocate the gesture by re-electing Tinubu for a second term in 2027.

“Northerners will no doubt come out en masse to vote for President Tinubu for a second term in 2027 because of his tremendous achievements,” Kwankwaso added.

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Osun must not return to era of half salaries, says Adeleke

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Osun State Governor and Accord Party governorship candidate, Ademola Adeleke, has urged residents to vote against the All Progressives Congress in the August 15 governorship election, accusing the opposition of neglecting civil servants during its time in office.

In a post on X on Thursday, Adeleke alleged that workers in the state suffered hardship under the APC administration and appealed to eligible voters to support his re-election bid.

He wrote, “We will not allow APC to take Osun back to the days when civil servants had to beg their neighbours for food.

“I call on the good people of Osun State to brace up for just a few more days.

“Those who once weaponised poverty by paying workers half salaries, leaving civil servants to struggle to feed their families, and denying our people access to basic necessities are desperate to return to inflict more pain.

“We must never go back to those dark days.

“On August 15, I urge every eligible voter to send a clear and resounding message that Osun has chosen the path of progress, compassion, and good governance.

“Together, we will protect the mandate of the people and keep Osun moving forward ACCORDINGLY.”

In a separate post, the governor defended his administration’s record on workers’ welfare, saying civil servants had remained a priority since he assumed office.

“APC’s disdain for civil servants is well known in Osun State. Since I became governor, I have made the welfare of our workers and the people of Osun State a top priority.

“I am confident that the unjust freezing of state accounts will only strengthen the resolve of our people to do everything necessary to ensure Osun never returns to the era of darkness.

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“The choice is clear: progress over regression, good governance over neglect. Accord over APC,” the governor stated.

The Osun governorship election is scheduled to hold on August 15, with Adeleke seeking another term under the Accord Party platform.

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