
News
IMF Report: Atiku raises alarm over N8.8trn unrecorded public expenditure spending by Tinubu govt
…Says Nigerians are starving while Tinubu amasses funds for 2027 Election War Chest
Former Vice President Atiku Abubakar has accused the Bola Tinubu-led administration of operating a ₦8.8 trillion “shadow treasury” outside the national budget, alleging that the funds are being amassed as a war chest for the 2027 general elections while Nigerians face worsening economic hardship.
Atiku, the 2027 presidential candidate of the African Democratic Congress, raised the alarm on Friday in a statement, citing a July 1, 2026, International Monetary Fund Article IV report published by Reuters.
The ADC leader said the IMF report revealed that about 2 percent of Nigeria’s Gross Domestic Product, estimated at ₦8.8 trillion based on a ₦441.5 trillion economy, was spent in recent budgets without statutory recording, audit or legislative oversight.
“I view this revelation with the gravest alarm,” Atiku said. “The Tinubu administration is awarding multi-trillion-naira contracts, moving massive public capital, and commissioning infrastructure projects entirely beyond the reach of the Auditor-General, the nation’s procurement laws, and the legitimate oversight of the National Assembly. It is a parallel fiscal universe, one governed by executive whim.”
He added that the IMF’s resident representative in Nigeria, Christian Ebeke, confirmed the discrepancy arose from “large-scale government projects executed off-budget entirely.”

Atiku likened the alleged practice to the “Alpha Beta arrangement” in Lagos State during Tinubu’s tenure as governor, where he claimed between 10 and 30 percent of internally generated revenue disappeared before budget capture.
“What the IMF has now documented at the federal level is that same Lagos playbook, replicated at national scale and with national consequences,” he said.
“The man who perfected the art of the off-budget economy in Lagos has brought that ‘Beta’ form to Abuja, and the price is being paid by 220 million Nigerians.”
The former vice president also alleged that ₦800 billion was “illegally deducted” from statutory allocations due to state governments under the Progressives Governors Forum, without National Assembly approval or court order.
“We state clearly and without equivocation that this ₦800 billion, combined with the ₦8.8 trillion in unrecorded federal expenditures, points unmistakably to the construction of a massive, multi-source political war chest being assembled ahead of the 2027 general elections,” Atiku said.
Atiku linked the alleged secret spending to the current economic pain, including fuel subsidy removal, naira devaluation, and high interest rates.
“While the poor were told to bleed, the government maintained access to a ₦8.8 trillion shadow treasury, entirely outside public view, entirely beyond legislative oversight,” he said. “The interest rates crushing Nigerian businesses, the weak Naira destroying Nigerian savings… are not the unavoidable consequences of global headwinds. They are, at least in part, the direct result of a government that has removed from the productive economy ₦8.8 trillion.”
He noted that the ₦8.8 trillion is equivalent to about $5.5 billion, the same scale as the $10 billion economic stimulus he proposed during the 2023 campaign.
Atiku called for immediate action from democratic institutions:
He asked the National Assembly to convene emergency investigative hearings on the IMF findings.
He equally said the Auditor-General should conduct a full, independent audit of all off-budget expenditures and publish findings without redaction.
Atiku insisted the Federal Government should provide a full public account of every naira spent outside the official budget, including projects, contractors and authorising officials.
He also said the Federal Government should refund to states immediately and restore the ₦800 billion deducted from state allocations.
The former Vice President said EFCC and ICPC should open formal investigations independent of the Presidency.
Civil society and the international community should respond with urgency to the disclosure, he urged.
“A government that governs in secret spends in secret. A government that spends in secret does not govern; it plunders,” Atiku said.
“The evidence is on the record. The figures are not in dispute. The only question… is whether we will summon the collective will to demand accountability.”
As of press time, the Federal Government had not issued an official response to Atiku’s allegations.
News
Again, Enugu bursts criminal syndicates, Police nab 14 kidnap suspects
… Recover 5 AK-47 Riffles, 2 pump action rifles, ammunition
The Enugu State Police Command has arrested and paraded 14 kidnap suspects involved in various kidnap operations in and outside the state.
Briefing pressmen at the Command’s headquarters in Enugu on Friday, the Commissioner of Police, Enugu State, Mamman Bitrus Giwa, said among them were two remaining suspects linked to the August 2 kidnapping raid on St. Joseph’s Catholic Church, Affa, Udi LGA of the state, who fled to Port Harcourt following the operational pressure mounted by joint security operatives.
“Further intelligence-led operations by the Command’s Anti-Kidnapping Violent Crime Response Unit (AK-VCRU) led to the arrest of two additional male suspects linked to the Affa Church kidnapping. Preliminary investigation reveals that, after fleeing Enugu, the suspects regrouped with their cohorts in Port Harcourt and abducted another victim, who was released after a ransom of ₦5m was paid,” he said.
CP Giwa noted that all the 14 suspects were arrested on various dates in June, July and August 2026 in the Federal Capital Territory, Abuja, and Enugu, Kogi, Nasarawa, Rivers, Kwara and Taraba States.
The suspects had also confessed to involvement in several recent and past kidnapping incidents along the Enugu–Ugwuogo–Opi–Nsukka Road, Obioma–9th Mile–Umulumgbe–Okpatu Road, Eke–Affa–Egede–Ezinze axis, and various locations in Ezeagu LGA.

“Specifically, preliminary investigation has linked the suspects to the following armed kidnapping incidents: the abduction of a male victim at Mgbabuowa/Aguobuowa, Ezeagu LGA, on 25th May, 2026, during which ₦5m was obtained as ransom; the abduction of two male victims and the shooting and murder of a female victim at Obioma, Udi LGA, on 9th May, 2026, during which the gang obtained $28,700 as ransom; the abduction of two male victims along the Eke–Ezinze Road, Udi LGA, on 10th April, 2026, for which $70,000 was obtained as ransom; and the kidnapping of seven victims at Obinaofia, Ezeagu LGA, on 12th April, 2026, during which ₦25m was obtained as ransom,” he explained.
The CP revealed that the suspects, who were members of an organised criminal network operating from different parts of the country, usually came into the state to plan and execute kidnapping operations before disappearing to their respective locations.
“The network is aided by an Enugu-based member who operates a tricycle and provides transportation for the gang members, their firearms and other criminal implements to and from operational locations. Another Enugu-based member provides intelligence that enables the gang to evade security surveillance and identify suitable targets and locations,” he added.
According to Giwa, investigation revealed that the suspects laundered and concealed proceeds of their criminal activities through investments in livestock and different properties, and engaged in lavish spending as well as leisure and trips to foreign nations such as Cameroon.
He said the Command was still conducting more investigations to establish the suspects’ involvement in other kidnapping and violent-crime incidents within and outside Enugu State, identify and arrest other members of the syndicate, and recover additional firearms, ammunition and other criminal proceeds.
“Upon conclusion of investigation, the suspects will be charged to court in accordance with extant laws'” he added.
The police command also displayed five AK-47 rifles, two pump-action guns, one locally fabricated firearm, 310 rounds of live 7.62 x 39mm ammunition, eight live cartridges, and seven empty AK-47 magazines recovered from the suspects.
CP Giwa credited the successes recorded by the Enugu Police Command to the availability of state-of-the-art security infrastructure, effectiveness of sustained intelligence gathering, ICT-enabled investigation, inter-agency collaboration, inter-state cooperation and coordinated operational policing adopted by the Command.
He commended Governor Peter Mbah and the Inspector General of Police for their leadership and support in ensuring security and order in Enugu State.
“I would also like to express my profound gratitude to Governor Peter Ndubuisi Mbah, for his for-looking leadership and for making the state safe.
“I equally commend other security agencies for their collaborative support, while also thanking members of the public for their continued cooperation,” he concluded.
The CP reiterated police’s readiness to make Enugu State increasingly unconducive to unrepentant local criminals, criminal elements seeking to infiltrate the State, commending Governor Peter Mbah and IGP Disu for their strategic leadership and support.
Meanwhile, one of the suspects, confessed his crime to newsmen, saying his gang operated along the stretch of Enugu-Port Harcourt Expressway and earned multimillion naira in ransoms before they were bursted by security forces.
News
Mammoth crowd as Peter Obi makes triumphant entry into Benin, dares Gov Okpebholo [VIDEO]
A mammoth crowd welcomed the presidential candidate of the Nigerian Democratic Congress (NDC), Peter Obi, as he made a triumphant entry into Benin City, Edo State, despite a warning earlier issued by Governor Monday Okpebholo.
Obi’s arrival has continued to generate reactions across the state, with supporters turning out in large numbers to receive the former Anambra State governor.
The development comes amid heightened political attention in Edo, as Obi’s visit appears to have tested the resolve of the state government following the governor’s earlier warning.

Edo Go Ikpebholo and Peter Obi, NDC Presidential candidate
Videos from the event showed enthusiastic supporters chanting and cheering as Obi arrived in the city, further fueling discussions over his growing political presence and the significance of the visit.

Governor Okpebholo, had on July 18 2025, warned the NDC candidate against visiting Edo State without prior notification and official security clearance.
The governor’s decision sparked backlash from concerned citizens, who argued that the former Anambra State governor has the right to visit any state in Nigeria.
However, Obi on Wednesday stormed Benin City, the Edo State capital, to join Catholic faithful, clergymen and other dignitaries at the service of songs and other funeral activities in honour of the late Archbishop of the Catholic Archdiocese of Benin City, Most Rev. Augustine Obiora Akubeze.
A viral video showed a large crowd excited supporters welcoming Obi into the state.
Hundreds of residents were seen lining the streets at night as Obi’s convoy made its way towards the Holy Cross Cathedral.
The development has continued to generate reactions on social media, with some netizens questioning the silence of Edo State Governor, Monday Okpebholo, following Obi’s arrival.
Popular television host, Rufai Oseni, in a post on his official X handle, wrote, “Dear Okpebholo, Obi is in Edo oooo.”
Similarly, social media commentator Benkingsley Nwashara said Obi’s arrival was unannounced, yet residents turned out in large numbers to welcome him.
“Word quickly spread that Obi was in town. Edo youths left their homes at night, gathered in large numbers, and turned up to welcome and celebrate him.
“No campaign announcement. No mobilisation. They simply heard Peter Obi was around and showed up,” he wrote on X.
Another influencer, Manju Vic, wrote, “Hello Nigerians, D7 told Peter Obi not to set foot in Edo.
“Peter Obi went to Benin, walked through the streets, and hundreds of people came out to give him a triumphant entry.”
Similarly, an X user Freeman (@freeman_stv) said the crowd was visibly excited to see Obi, with many residents gathering around him to take pictures.
“The crowd was so excited to see him. Many people gathered around, taking pictures and trying to get close to him.
“It even took Peter Obi some time to enter the venue because of the huge crowd. This man is really loved,” he wrote.
Watch Video Below
News
ICPC exposes Payroll Scandal: Official paying 14 family members, another worker collects 13 salaries
The Independent Corrupt Practices and Other Related Offences Commission has uncovered cases of ghost workers allegedly inserted into government payrolls, including an official who enrolled 14 members of his family and another who allegedly collected 13 salaries.
The ICPC Chairman, Musa Aliyu, disclosed this on Thursday in Abuja while delivering the keynote address at the 2026 Economic Confidential Lecture and National Spokespersons Award, organised by Image Merchants Promotions Limited.
Aliyu said the commission’s investigation into ghost workers had exposed how individuals manipulated government payroll systems to receive multiple salaries.
He said, “We discovered that one person enrolled 14 members of his family. He lived in a religious hotel, a hotel at the public office, receiving salaries.”
The ICPC chairman added that another individual allegedly enrolled his wife, daughter, son and other family members and received 13 salaries.

“Another person enrolled his wife, his daughter, his son, and others and was receiving 13 salaries,” he said.
Aliyu said the commission had also identified about 900 suspected ghost workers and published their names, challenging them to prove that they were genuine employees.
“We now secured income of about 900 ghost workers, which we published their names in papers,” he said.
He explained that the commission subsequently spent about a year investigating the suspected ghost workers, uncovering the methods used to insert fictitious names into government payrolls.
“We spent one year, one single year, on ghost workers,” Aliyu said.
According to him, in some cases, the names of the alleged ghost workers appeared on official payrolls with email addresses, while the bank account details were linked to other individuals.
“When they insert their names, you will see their name in the payroll. You will see their email. But when you check the account number, you will see the name of the person. So, that is how these things have been done,” he explained.
Aliyu warned that the consequences of ghost workers extended beyond salaries, saying fraudulent entries could also result in ghost pensions, housing, health insurance and other benefits.
“Because, you know, once there is a ghost worker, there is ghost pension, there is ghost mortgage, there is ghost housing fund, there is ghost health insurance,” he said.
He said the commission’s intervention was aimed at protecting public resources and strengthening the economy, noting that fraudulent payroll practices imposed additional costs on the country.
The ICPC chairman also disclosed that the commission recovered more than N24bn in ghost pension funds in 2024.
“In 2024, we recovered over N24 billion ghost workers pension,” Aliyu said.
He said the commission had adopted cross-agency collaboration and other preventive measures to tackle corruption and recover government resources.
Aliyu stressed that the commission was increasingly focusing on preventing corruption and ensuring that government projects were properly executed rather than relying solely on criminal prosecution.
He said, “It is better for us to do that than to engage in filing criminal charges. How many charges can we file?”
The ICPC chairman said the commission had recovered or secured government resources through interventions in projects and other areas, stressing that the ultimate objective was to ensure that Nigerians benefited from public expenditure.
He also called for greater use of data and technology in combating corruption, saying effective communication and access to reliable information were essential to building public confidence in anti-corruption efforts.
Earlier, the Chief Executive Officer of IMPR, Yusha’u Shuaib, said the lecture was organised to promote stronger governance through transparency, accountability and professional communication.
“We are honoured to host yet another gathering of leaders, professionals, scholars, and communication experts committed to strengthening governance, promoting transparency, and advancing excellence in public communication,” Shuaib said.
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