Politics
LP Crisis: Treasurer Accuses Abure Of N3bn Theft
Tensions have escalated within the opposition Labour Party’s National Working Committee (NWC) with crisis unfolding over alleged misappropriation of over N3 billion dedicated to the 2023 election campaigns.
Despite National Chairman Barr. Julius Abure’s dismissal of forgery claims and assertion of external sponsorship for internal disruption, National Treasurer Mrs. Oluchi Oprah has now come forward, accusing Abure of mishandling over N3 billion from the N3.5 billion raised for the critical 2023 election initiatives, adding a new layer of controversy within the party.
During a press conference in Abuja on Monday, Oluchi stated that under Abure’s leadership, a substantial amount exceeding N3.5 billion was generated through the sale of nomination forms for the upcoming 2023 general elections.
She said “However, apart from the proceeds of the sale of forms from his home state of Edo – which was diverted to Mr Abure’s private accounts, he only declared N55 million to me as Treasurer, of the over N3.5 billion raised, pocketing the rest for himself.
She reported that during off-cycle elections in various states last year, the party amassed approximately N958 million through a combination of nomination forms and donations.
She added, “These funds have completely vanished under Mr. Abure’s oversight – with zero paper trail.
“While on a fundraising tour in the United States in August 2023, Mr. Abure and his cronies raised hundreds of thousands of dollars from the party’s diaspora community.
“To date, he has not declared a single dollar to me or the NWC, essentially stealing donations meant for the party’s development. Indeed, not a single cent from donations received was ever paid into any of the party’s accounts.”
Expressing her concerns, she accused Abure of running the affairs of the Labour Party as his private estate.
With deep reluctance, she addressed the media, highlighting the significant financial mismanagement and corruption within the party under Abure’s leadership.
As the National Treasurer, she emphasized the failure of internal party mechanisms to hold Abure accountable for his alleged abuse of office and misappropriation of party funds.
She stated that Abure’s unchecked appetite for power has deliberately undermined her duties and authority outlined in the party’s constitution.
She said, “Since assuming office in 2021, Mr Abure has engaged in a series of actions that not only undermine the principles upon which the Labour Party was founded but also constitute grave violations of trust and fiduciary responsibility.
“His tenure has been marred by forgery, embezzlement, and corrupt enrichment, all at the expense of the party and its members. He has unilaterally depleted the party’s bank accounts, often through fraudulent means, including forging the signature of his predecessor and our late national chairman – Alhaji Abdulkadir Abdulsalam, immediately after his demise.
“One of the most alarming aspects of Mr Abure’s conduct is his repeated denial of my access to the party’s financial records and bank accounts. Despite my role as National Treasurer and custodian of all party funds, bank and accounting records, I have been systematically prohibited from fulfilling my duties, including accessing essential information and bank statements necessary for proper financial oversight.
“This deliberate obstruction not only hinders my ability to carry out my responsibilities but also raises serious questions about the chairman’s transparency and accountability.
“The chairman regularly syphones monies from the party accounts through unauthorised transfers to proxy individuals, including junior unsuspecting administrative staff at our national secretariat, as well as special purpose vehicles owned by himself and/or his wife and/or other family members.
“To conceal his financial crimes from the authorities, Mr. Abure doctored audit reports in 2023 and tried to bribe me severally – first with money, then a new car and even a new house, to ratify his hoax financial statements. I rejected his bribes and obstruction of my duties as Treasurer.
“Indeed, Labour Party remains the only major political party that has failed to submit an audit report of our financial activities for 2022 2023, to the Independent National Electoral Commission (“INEC”).
“Evidence suggests the chairman has sunk his loot into various choice properties in Nigeria and Europe. When he assumed office in 2021, Mr. Abure was practically destitute. His financial position essentially remained the same until 2022, following the entry of His Excellency Peter Obi into the Labour Party.
“Today, Mr. Abure owns multiple high-end real estate in Abuja, Benin, Uromi, and Italy, whose value runs into hundreds of millions, if not billions of naira. To the best of my knowledge, he did not own a single property prior to 2022 and lived in very squalid conditions.
Oluchi asserted that Abure’s alleged penchant for embezzlement and financial impropriety might have singularly compromised their prospects in both past and forthcoming elections.
She urged Mr. Abure to promptly furnish documentation accounting for the N3.5 billion garnered from form sales for the 2023 elections.
Additionally, she raised concerns about Edo State proceeds being redirected into private accounts, seeking clarification on this matter.
She said “Account for the N958 million raised from off-cycle elections in 2023. Provide paper trails and documentary evidence of adherence to due process.
“Declare every single dollar raised from the 2023 US fundraising tour and provide documentation on where donations were warehoused and how the same was appropriated.
“Explain the source of funds for properties bought in Nigeria and abroad between 2022 and 2023. Provide paper evidence.
“Allow me unfettered access to party accounts and records as National Treasurer,” she added.
In an effort to reduce Nigeria’s debt burden and stabilize the economy, President Bola Tinubu announced on Monday that the country’s debt service-to-revenue ratio has fallen from 97 to 65 percent over the 17 months since he took office.
Speaking at the swearing-in ceremony for seven new ministers at the State House, Abuja, Tinubu emphasized the government’s progress in stabilizing the economy despite challenging conditions.
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“For us, it was a challenge when the nation was servicing its debt with 97 percent of its revenue. It was nothing but the edge of the cliff,” Tinubu said.
“But today, I can report to you that we have brought that down to 65 percent, and we have never defaulted in meeting all obligations, both foreign and domestic.”
His remarks follow Afreximbank’s recent projection that Nigeria’s debt service-to-revenue ratio could reach 110.4 percent by 2024.
Afreximbank’s 2024 Nigeria Country Brief warned of a troubling upward trend in debt servicing, which could see the ratio surge from 33.8 percent in 2017 to a projected 110.4 percent next year.
However, with continued reforms, the report suggested the ratio might decline to 62.6 percent by 2025.
In the first nine months of 2023, debt servicing consumed 66.9 percent (₦5.79 trillion) of Nigeria’s total revenue, a slight improvement from 99.3 percent (₦4.23 trillion) during the same period in 2022.
Tinubu, while optimistic about economic recovery, acknowledged the ongoing struggles faced by Nigerians due to a sharp increase in the cost of living triggered by recent economic reforms.
“We have taken the bull by the horns,” the President asserted. “We have stopped the scavengers. We will fully put an end to the profiteers and smugglers of our resources across the country. We are not shirking our responsibility; we are confronting it head-on.”
He further expressed confidence that Nigeria was on a “good path” toward recovery, emphasizing that the government remains committed to re-engineering the economy.
He cited the introduction of a new minimum wage as one measure aimed at mitigating rising living costs.
Monday’s ceremony also saw the swearing-in of seven new ministers, part of a recent cabinet reshuffle.
In two batches, ministers including Idi Maiha (Livestock Development) and Dr Jumoke Oduwole (Industry, Trade, and Investment) took their oaths.
The reshuffle, which saw 10 ministers reassigned, five discharged, and seven new appointments confirmed by the Senate, reflects Tinubu’s stated commitment to reshaping his cabinet to meet Nigeria’s evolving challenges.
As the administration continues to implement reforms, President Tinubu emphasized a long-term vision for economic sustainability, not only for the current generation but also for future ones.
“Despite the challenges, we must undertake the job of re-engineering and retooling this country’s economic path,” he said.
A Federal High Court in Abuja has mandated that Godwins Omobayo, the Deputy Governor of Edo State, appear in person on November 26, 2024, following allegations of contempt of court stemming from his failure to comply with a previous ruling.
Justice James Omotosho issued the order on Monday, asserting that Omobayo, described as the alleged contemnor, must be afforded a fair hearing in accordance with Section 36 of the 1999 Constitution (as amended).
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The court action was initiated by Philip Shaibu, who was reinstated as Deputy Governor after the court invalidated his impeachment by the Edo State House of Assembly on July 17.
Justice Omotosho ruled that the impeachment proceedings lacked due process and that the grounds for Shaibu’s removal did not constitute gross misconduct.
Shaibu’s suit targets several parties, including the Inspector-General of Police and the Edo State House of Assembly, seeking enforcement of the court’s judgment and demanding that Omobayo vacate the deputy governorship position.
Omobayo assumed office on April 8, following Shaibu’s impeachment.
During the court proceedings, it was revealed that Omobayo was served legal documents but failed to appear.
In response, Shaibu’s attorney, Ayotunde Ogunleye, SAN, urged the court to compel Omobayo’s attendance, citing the need to uphold judicial authority.
In delivering his ruling, Justice Omotosho adjourned the case until November 26 for further proceedings.
He directed that hearing notices be served to the 1st, 2nd, 3rd, and 5th defendants involved in the charge.
“In the interest of justice and to provide the alleged contemnor with an opportunity to defend himself and receive a fair hearing, in accordance with Section 36 of the 1999 Constitution (as amended), I hereby order that the alleged contemnor appear in court in person on November 26, 2024,” the judge stated.
It is noteworthy that the current tenure of the state government is set to conclude on November 12.
On the heels of the salvo fired by the presidential candidate of the Peoples Democratic Party (PDP) in Nigeria’s 2023 elections, Atiku Abubakar, signalling what might be a long-drawn hot exchange of words, the Presidency has made what it called ‘our initial response to Alhaji Atiku Abubakar’.
This was contained in a statement put out on micro-blogging site, X, Sunday by the Special Adviser to the President (Information and Strategy), Bayo Onanuga.
The former vice president had detailed the shortcomings of the President Bola Ahmed Tinubu administration, making efforts to detail what he would have done differently, that would have better results for Nigeria.
In a swift response, the Presidency countered that Atiku and his ideas “were rejected by Nigerians in the 2023 poll”, based on his antecedents.
The statement reads, “OUR INITIAL RESPONSE TO ALHAJI ATIKU ABUBAKAR
“We have just read a statement credited to former vice president Alhaji Atiku Abubakar, in which he tried to discredit President Bola Tinubu’s economic reform programmes while pushing his untested agenda as a better alternative.
“First, Alhaji Atiku’s ideas, which lacked details, were rejected by Nigerians in the 2023 poll.
“If he had won the election, we believe he would have plunged Nigeria into a worse situation or run a regime of cronyism.
“Abubakar lost the election partly because he vowed to sell the NNPC and other assets to his friends. Nigerians have not forgotten this, nor would they be comforted by Atiku’s antecedents when he ran the economy in the first term of President Olusegun Obasanjo’s government between 1999 and 2003.
“As vice president, Atiku supervised a questionable privatisation programme. He and his boss demonstrated a lack of faith in our educational system, and both went to establish their universities while they allowed ours to flounder.
“Talk is cheap. It is easy to pontificate and deride a rival’s programmes even when there are irrefutable indices that the economic reforms yield positives despite the temporary difficulties.
“Despite the futile attempt to hoodwink Nigerians again in his statement, it is gratifying that the former Vice President could not repudiate the economic reforms pursued by the Tinubu administration because they are the right things to do.
“His advocacy for a gradualist approach only showed that he was not in tune with the enormity of problems inherited by President Tinubu.
“It is so easy to paint a flowery to-do list. It is expected of an election loser.
“President Tinubu met a country facing several grave challenges. Fuel subsidies were siphoning away enormous resources we could ill afford, and there was criminal arbitrage in the forex market.
“No leader worth his name will allow these two economic disorders to persist without moving to end them surgically.
“While advocating for gradual reforms may sound appealing, Tinubu took measures that should have been taken decades ago by Alhaji Abubakar and his boss when they had the opportunity.
“Alhaji Abubakar calls for empathy and a human face to reforms. We have no problem with this as it resonates well with our administration’s focus. President Tinubu has consistently emphasised the need for compassion and protection of the most vulnerable.
“The administration has prioritised social safety nets and targeted support for those affected by recent economic transitions.”
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