NEWS
Atiku Vows Probe of ₦33.75bn Cash Transfer to 3.29m Nigerians
Former Vice President and presidential candidate of the African Democratic Congress, Atiku Abubakar, has vowed to constitute an independent team of experts to investigate ₦33.75 billion reportedly paid to 3.29 million vulnerable Nigerian households under the Federal Government’s cash-transfer programme.
Atiku made the declaration in a statement issued on Saturday by his Senior Special Assistant on Public Communication, Phrank Shaibu, following an audit report that raised questions over whether the funds actually reached the intended beneficiaries.
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According to Atiku, the figures expose serious concerns about the government’s intervention programme, noting that ₦33.75 billion divided among 3.29 million households amounts to approximately ₦10,258 per household.
He criticised the Bola Tinubu administration for removing the fuel subsidy and increasing taxes, tariffs, transportation and electricity costs, while the intervention meant to cushion the impact of those policies was now facing serious accountability questions.
“This is beyond a bookkeeping scandal. The intervention is insultingly small, yet even that small amount cannot be cleanly accounted for,” Atiku said.
He also questioned the varying figures released by the government regarding the number of households that benefited from its intervention programme.
Atiku noted that the administration had claimed that more than ₦600 billion had been disbursed to over 10 million households, after Nigerians were earlier told that about 15 million households were beneficiaries.
“It now appears that the Tinubu administration cannot give Nigerians a coherent account of how many households actually benefited from its intervention programme, while significant portions of the expenditure have failed to withstand independent audit scrutiny,” he said.
The former vice president said the Auditor-General for the Federation, Shaakaa Chira, was reportedly questioning ₦33.75 billion allegedly paid to 3.29 million beneficiaries.
He added that the audit also raised questions over ₦36.74 billion in payments reportedly made without pre-payment audit and another ₦4.62 billion for which payment vouchers were not produced.
Atiku commended Chira for what he described as putting his constitutional responsibility above political convenience.
“That is what institutions are supposed to do — protect the public purse, not the political comfort of those in power,” he said.
Explaining his decision to launch an independent probe, Atiku said Nigerians could not reasonably be expected to trust the same government whose expenditure was under scrutiny to investigate itself.
“My team will constitute an independent group of financial, audit, technology and public-accounting experts to interrogate the available records surrounding these cash-transfer payments,” he said.
He said the team would examine beneficiary figures, payment channels, reconciliation records, audit queries and other inconsistencies surrounding the payments.
Atiku also said the investigation would establish whether the beneficiaries actually received the funds and determine whether access to relevant records had been obstructed.
“If Remita processed these transactions, the relevant records should be available for scrutiny. If beneficiaries received the money, there should be evidence. If access to records was obstructed, Nigerians deserve to know by whom and why,” he said.
He demanded that the government publish a verifiable payment trail if the beneficiaries were genuine, while insisting that funds should be recovered if they did not reach the intended recipients.
Atiku further called for prosecution of any official found to have diverted, misapplied or misappropriated funds meant for vulnerable Nigerians.
He argued that Nigerians needed more than repeated palliative announcements, saying the government should pursue economic policies capable of improving purchasing power and reducing the daily cost of transportation, food and energy.
“Our intervention will follow production. It will support domestic refining, increase local supply, reduce the cost of energy and ensure that the benefit reaches Nigerians through lower prices,” he said.
Atiku maintained that Nigerians who had already endured higher fuel prices, food costs, electricity bills, transportation fares and taxes should not also lose funds appropriated in their names.
Former Delta State Governor, Dr Emmanuel Uduaghan, has reportedly died, according to sources said to be close to his family.
The sources confirmed the development on Monday, October 19, 2026, although details surrounding the circumstances of his death remained unclear as of the time of filing this report.
“Uduaghan is no more; he is dead,” one of the sources reportedly said.
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The reported death comes months after claims that the former governor had died circulated on social media before being dismissed by his media aide, Henry Unini.
In June, reports of Uduaghan’s alleged death spread across Facebook and WhatsApp, prompting Unini to publicly debunk the claims and assure the public that the former governor was alive.
“I can tell you for a fact that Dr. Emmanuel Uduaghan is alive,” Unini said at the time.
“Frankly, I don’t know where the writer got his information from. The death of someone is not something you take and write about casually,” he added.
Unini acknowledged at the time that Uduaghan had been experiencing health challenges but maintained that he was receiving medical attention.
“It is now common knowledge that Dr. Emmanuel Uduaghan has been sick, but he is receiving proper medical care,” the media aide said.
He also stated that the former governor was recuperating, assuring the public that there was no immediate cause for concern.
“There is no cause for alarm whatsoever,” Unini said.
The media aide thanked friends, well-wishers and residents of Delta State who contacted the family to verify the former governor’s condition. He also urged the public to avoid spreading unverified information.
“The rumour was uncalled for,” he said while addressing the earlier reports.
As of the time of filing this report, further details about the circumstances surrounding Uduaghan’s reported death had yet to emerge.
The Delta State Government has commenced a ₦5 billion grassroots empowerment programme targeting 100,000 small-scale business owners and other beneficiaries across the state’s 500 wards.
The initiative, announced on Monday, will see each beneficiary receive ₦50,000 to support small businesses, strengthen household finances and stimulate economic activities across the state.
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The Executive Assistant to the Governor on Public Enlightenment (Projects and Policies), Mr Olisa Ifeajika, disclosed this while speaking with journalists in Asaba.
Ifeajika explained that the programme was designed to complement the state government’s investments in critical infrastructure with direct financial assistance to residents.
According to him, Governor Sheriff Oborevwori directed local government councillors to facilitate the distribution of the funds, with each of the 500 wards expected to reach at least 200 beneficiaries.
He added that the initiative reflects the administration’s commitment to improving livelihoods and expanding economic opportunities for Deltans, in line with the people-centred objectives of the MORE Agenda.
The Minister of Education, Dr Maruf Tunji Alausa, has commended Alhaji Aliko Dangote and the Aliko Dangote Foundation for plans to acquire Initial Public Offering (IPO) shares of Dangote Refinery on behalf of eligible Nigerian tertiary institution students.
Alausa described the initiative as an innovative approach to promoting financial literacy, youth empowerment and wealth creation among young Nigerians.
According to a press release issued by the Federal Ministry of Education on Monday, October 19, 2026, the initiative is expected to benefit up to four million students aged 18 and above, with each eligible student expected to receive 10 IPO shares without requiring prior investment or share purchase.
The minister said the programme would expose students to capital markets, responsible investing and long-term financial planning, preparing them for greater economic participation and financial independence.
He noted that the initiative aligns with the Nigeria Education Sector Renewal Initiative (NESRI) and President Bola Ahmed Tinubu’s Renewed Hope Agenda by connecting education with enterprise, human capital development and inclusive economic growth.
According to Alausa, the initiative reflects the importance of partnerships between the education sector and private organisations in equipping young Nigerians with the knowledge and skills needed to participate in the economy.
He said the Federal Ministry of Education remained committed to strengthening private-sector partnerships to improve educational quality, relevance, equity and efficiency while preparing learners for a changing economy.
While appreciating the foundation’s contribution to youth development, the minister clarified that the ministry’s commendation was based on the initiative’s educational and developmental value.
He stressed that the ministry’s position “does not constitute an endorsement of any particular investment decision.”
Alausa also encouraged other corporate organisations to support similar initiatives that promote financial awareness, economic productivity and entrepreneurship among young Nigerians.
He urged businesses to support NESRI and the Renewed Hope Agenda in building a financially informed and economically productive generation.
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