The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, on Wednesday intensified his criticism of President Bola Tinubu’s administration, calling on the President to apologise to Nigerians and resign over the controversy surrounding the Presidential Foreign Investment Promotion Council (PFIPC).
Atiku said the conflicting explanations given by the Office of the Accountant-General of the Federation (OAGF) and the Central Bank of Nigeria (CBN) over the opening and operation of accounts linked to the PFIPC have exposed what he described as a major credibility crisis within the Federal Government.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, the former Vice President said the contradictory positions taken by two of the country’s most important financial institutions have left the Tinubu administration “trapped in its own contradictions.”
The latest comments came as the House of Representatives continues its investigation into the controversy surrounding the PFIPC, an initiative established to attract foreign investment into Nigeria. The investigation has focused on claims over the opening and management of accounts connected with the council.
According to Atiku, testimony presented by the Central Bank before the House of Representatives directly contradicts an earlier position taken by the Office of the Accountant-General.
He said while one government institution denied authorising the opening of the PFIPC accounts and alleged that documents relating to the accounts were forged, the Central Bank told lawmakers that the accounts were opened based on directives from the Accountant-General after due process had been followed.
“This is where the cover-up appears to begin,” Atiku said.
“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.”
The former Vice President argued that the conflicting accounts have created one of the biggest credibility challenges for the current administration.
According to him, when two key institutions responsible for managing the country’s public finances and monetary system publicly disagree over the same transaction, it raises serious concerns about transparency and accountability in government.
He said he could only sympathise with President Tinubu, adding that the President now faces difficult questions that cannot be ignored.
“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,” he stated.
Atiku said President Tinubu should no longer remain silent while government agencies continue to issue conflicting explanations over the matter.
He challenged the President to clearly state which version of events he believes.
“President Tinubu must answer a simple question: Which version does he believe—the Accountant-General’s or the Central Bank’s?” Atiku asked.
“If he believes neither, why has he not acted?”
He also questioned why the President has not ordered what he described as a truly independent investigation into the controversy.
According to Atiku, every day the administration delays taking decisive action only increases public suspicion that protecting the government’s image has become more important than establishing the truth.
The ADC presidential candidate also criticised the silence of the Attorney-General of the Federation, saying the nation’s chief law officer should have taken a more active role in addressing the matter.
He argued that the Attorney-General’s silence has further weakened public confidence and reinforced perceptions that the government is more concerned about limiting political damage than uncovering the facts.
Atiku also called on the National Assembly to strengthen its ongoing investigation by inviting both the Accountant-General of the Federation and the Governor of the Central Bank to appear together before the House investigative committee.
According to him, both officials should testify under oath so Nigerians can hear a single, verified account of what happened.
He maintained that the issue has gone beyond a disagreement over government accounts and has become a test of the administration’s commitment to transparency and accountability.
“The PFIPC scandal has ceased to be merely about disputed accounts. It has become a referendum on President Tinubu’s integrity and competence,” he said.
Atiku further argued that if one individual could allegedly initiate actions capable of putting two major government institutions in direct conflict, then Nigerians have every reason to question whether similar abuses may have taken place elsewhere without detection.
He blamed what he described as weak institutional oversight for allowing such a situation to develop.
The former Vice President therefore urged President Tinubu to accept responsibility for the crisis.
According to him, the President owes Nigerians an unreserved apology for what he described as an unprecedented breakdown in public accountability.
He said that unless the President immediately orders an independent investigation and ensures that anyone found responsible is held accountable, he would have lost the moral authority to continue leading the country.
“The honourable course is simple: apologise to Nigerians and resign,” Atiku declared.
The PFIPC controversy has attracted growing public attention in recent weeks following claims and counterclaims over the opening of accounts allegedly linked to the council. While the Office of the Accountant-General reportedly denied authorising the accounts and questioned their authenticity, the Central Bank informed lawmakers during a House of Representatives hearing that the accounts were opened following directives from the Accountant-General and in line with due process.
The conflicting positions have prompted lawmakers to continue their investigation to determine what actually happened and whether any laws or financial regulations were breached.
The controversy has also become another point of political disagreement between the Tinubu administration and opposition parties, with critics demanding greater transparency and accountability in the management of public institutions.
As of Wednesday, the Presidency had not publicly responded to Atiku’s latest call for President Tinubu to apologise and resign. The outcome of the ongoing parliamentary investigation is expected to determine whether further legal or administrative actions will follow.