APC Warns Nigerians Against Entrusting National Treasury to Atiku

The All Progressives Congress (APC) has urged Nigerians not to entrust the country’s national treasury to Atiku Abubakar, presidential candidate of the African Democratic Congress (ADC), ahead of the 2027 general election.

The APC made the call in a statement issued on Friday by its National Publicity Secretary, Felix Morka, titled: “2027: Why Nigerians Must Keep Atiku Away from the National Treasury.”

Morka cited several controversies and allegations involving the former vice-president, arguing that they should be considered in assessing his bid for the presidency.

According to the APC spokesperson, Atiku’s record in public office has been associated with allegations of corruption and financial impropriety. He referenced controversies surrounding the Mambilla Hydroelectric Power Project, the Siemens bribery case, the William Jefferson case, the Petroleum Technology Development Fund (PTDF) funds controversy and a 2010 US Senate investigation into financial transactions involving Atiku and his former wife, Jennifer Douglas.

Morka said the allegations had featured in official records, court and tribunal proceedings, government investigations and foreign legislative reports.

On the Mambilla project, he referred to a $500,000 payment allegedly made by Leno Adesanya, promoter of Sunrise Power, to Douglas in January 2003, around the period the contract was awarded. He said the transaction was among issues examined in proceedings before an International Chamber of Commerce arbitration tribunal in Paris.

The APC spokesperson also cited the Siemens bribery controversy, alleging that about $2.8 million in suspected bribe payments passed through a bank account linked to Douglas.

He further referenced the case involving former US Congressman William Jefferson, saying investigations into the case examined proposed business interests in Nigeria involving Atiku.

Morka also cited a 2010 report by the US Senate Permanent Subcommittee on Investigations, which examined financial transactions involving Atiku and Douglas.

APC Criticises Atiku’s Fuel Subsidy Proposal

Morka also criticised Atiku’s proposal to introduce a targeted production subsidy for petroleum products refined locally if elected president.

Atiku has said his proposal would focus on supporting locally refined petroleum products rather than restoring the previous open-ended subsidy regime on imported petrol.

However, Morka argued that the proposal could undermine the economic reforms of President Bola Tinubu’s administration.

He alleged that the policy could put pressure on Nigeria’s foreign reserves and reverse what the APC described as gains recorded under the current administration.

Morka further accused Atiku of seeking to reverse several economic reforms introduced by Tinubu.

The APC spokesperson ultimately called on Nigerians to reject what he described as Atiku’s “desperate quest for presidential power” ahead of the 2027 election.