Atiku says PFIPC scandal proves Tinubu trapped, demands resignation
Atiku Abubakar has demanded President Tinubu’s resignation, declaring that conflicting accounts by the OAGF and CBN over the PFIPC scandal have exposed a government trapped by its own contradictions.
Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has declared that the conflicting accounts by the Office of the Accountant-General of the Federation (OAGF) and the Central Bank of Nigeria (CBN) over the controversial Presidential Foreign Investment Promotion Council (PFIPC) accounts have exposed a government trapped by its own contradictions. In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said the testimony presented by the Central Bank before the House of Representatives fundamentally contradicts the narrative earlier advanced by the Office of the Accountant-General, plunging the Tinubu administration into one of the gravest credibility crises in Nigeria’s democratic history.
“This is where the cover-up appears to begin. One institution denied authorising the opening of the PFIPC accounts and alleged forgery. Another, before the representatives of the Nigerian people, stated that the accounts were opened on the directive of the Accountant-General after due process was followed. Both accounts cannot be true,” Atiku said.
Atiku said one can only sympathise with President Tinubu. “When two of your most sensitive financial and monetary authorities publicly contradict each other on the same transaction, no serious leader needs a clairvoyant to know that his administration is trapped in a web of deception and a profound crisis of credibility. The President cannot continue to watch from the sidelines while his government tears itself apart with conflicting narratives.”
Atiku also challenged President Tinubu to publicly state which version of events he believed. “If he believes neither, why has he not acted? Every day he delays ordering a truly independent investigation, he deepens public suspicion that preserving his administration’s image has taken precedence over establishing the truth.”
The former vice president also criticised the continued silence of the Attorney-General of the Federation, describing it as a development that further compounded the credibility crisis. He called on the National Assembly to immediately summon the Accountant-General of the Federation and the Governor of the Central Bank to appear together before its investigative committee under oath so Nigerians can finally hear one truthful account.
“The PFIPC scandal has ceased to be merely about disputed accounts. It has become a referendum on President Tinubu’s integrity and competence. If a single individual could allegedly orchestrate a scheme that has thrown two of Nigeria’s most critical financial and monetary authorities into public contradiction, Nigerians are entitled to ask how many other abuses may have escaped detection because of weak oversight and institutional failure,” Atiku said.
He concluded: “President Tinubu owes Nigerians an unreserved apology for presiding over this unprecedented collapse of public accountability. If he cannot immediately restore public confidence through a genuinely independent investigation and ensure that everyone responsible is held to account, then he has forfeited the moral authority to continue in office. The honourable course is simple: apologise to Nigerians and resign.”
The PFIPC scandal has already seen the arrest of Adeniyi Adeyemi, the questioning of Chief of Staff Femi Gbajabiamila, and the revelation that bank accounts opened under the entity currently have a zero balance. The conflicting narratives from the OAGF and CBN have deepened the controversy and raised questions about the government’s handling of the matter.
This echoes the 2012 pension fraud scandal, which also exposed systemic weaknesses in Nigeria’s financial management. The mechanism then was different, but the result was the same: a government struggling to manage the fallout from a major scandal.
The winners: Atiku Abubakar, who has positioned himself as a voice of accountability; and the Nigerian public, who may finally get answers. The losers: President Tinubu, who faces a credibility crisis; and the Nigerian government, which faces another scandal.
Bottom Line: Atiku says the PFIPC scandal proves Tinubu is trapped. He wants the President to resign. The contradictions between the CBN and the Accountant-General are deepening the crisis. The question is whether the truth will emerge or remain buried.