PFIPC scandal: Apologise and resign, Atiku tells Tinubu

Former Vice President Atiku Abubakar has demanded that President Bola Tinubu apologize and resign amidst controversy surrounding the Presidential Foreign Investment Promotion Council (PFIPC). Abubakar pointed to conflicting accounts from the Office of the Accountant-General of the Federation and the Central Bank of Nigeria (CBN) concerning the opening of bank accounts linked to the PFIPC.

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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.

In a statement issued by his Special Assistant on Public Communication, Phrank Shaibu, Abubakar highlighted the discrepancy between the two institutions. One office denied authorizing the PFIPC accounts, alleging forgery, while the other stated they were opened under the directive of the Accountant-General following due process. Abubakar argued that both accounts cannot be true and that these contradictions create a significant credibility challenge for the administration.

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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.

"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," Abubakar stated. He questioned President Tinubu's inaction, urging him to clarify which official position his administration supports or to initiate an independent investigation.

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President Tinubu must answer a simple question: Which version does he believe, the Accountant-General’s or the Central Bank’s? If he believes neither, why has he not acted?

Abubakar also criticized the silence of the Attorney-General of the Federation, suggesting it amplifies public concern. He called upon the National Assembly to summon officials from the Accountant-General's office and the CBN to jointly address the conflicting narratives before its investigative committee. The former vice president concluded that the PFIPC scandal has evolved into a "referendum on President Tinubu’s integrity and competence," demanding that the President restore public confidence through a thorough and independent inquiry.

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The PFIPC scandal has ceased to be merely about disputed accounts. It has become a referendum on President Tinubu’s integrity and competence.