The controversy surrounding the alleged Presidential Foreign Investment Promotion Council (PFIPC) has taken a dramatic political turn, with the presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, calling on President Bola Tinubu to apologise to Nigerians and step down from office.
Atiku argued that the Tinubu administration is facing a deepening credibility crisis following what he described as conflicting accounts from two of the country’s most important financial institutions, the Office of the Accountant-General of the Federation (OAGF) and the Central Bank of Nigeria (CBN), over the operations of the controversial council.
In a statement issued on Wednesday by his Senior Special Assistant on Public Communication, Phrank Shaibu, the former Vice President said the contradictory testimonies have raised serious questions about transparency and accountability within the Federal Government.
The latest controversy stems from testimonies presented before the House of Representatives.
According to Atiku, the Central Bank’s submission to lawmakers directly contradicts the position earlier taken by the Office of the Accountant-General regarding the opening of bank accounts linked to the PFIPC.
He noted that while one government institution denied authorising the accounts and suggested that relevant documents were forged, another maintained that the accounts were opened after receiving proper authorisation from the Accountant-General.
“This is where the cover-up appears to begin,” Atiku said.
“One institution denied authorising the opening of the PFIPC accounts and alleged forgery, while 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.”
‘Tinubu Is Trapped’
The former presidential candidate said the conflicting narratives have placed the Tinubu administration in one of its biggest credibility challenges since assuming office.
According to him, no responsible government can afford to ignore such glaring contradictions between key public institutions.
“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,” Atiku stated.
He criticised President Tinubu for remaining silent while different government agencies continued to present opposing versions of events.
“The President cannot continue to watch from the sidelines while his government tears itself apart with conflicting narratives,” he added.
The former Vice President challenged President Tinubu to publicly clarify which version of events he believes.
He argued that failure to order an independent investigation only fuels public suspicion.
“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?” Atiku asked.
He added that every day without a transparent investigation strengthens the perception that the government is more interested in protecting its image than uncovering the truth.
Atiku also criticised the continued silence of the Attorney-General of the Federation, saying it further deepens public concerns about the administration’s commitment to accountability.
Calls For National Assembly Intervention
The ADC chieftain urged the National Assembly to summon both the Accountant-General of the Federation and the Governor of the Central Bank to appear together before its investigative committee.
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According to him, Nigerians deserve a clear explanation under oath regarding the conflicting testimonies.
“The PFIPC scandal has ceased to be merely about disputed accounts,” he said.
“It has become a referendum on President Tinubu’s integrity and competence.”
He argued that if one individual could allegedly establish an organisation that created confusion among major government institutions, Nigerians have every reason to question the effectiveness of oversight mechanisms within the government.
Atiku concluded by insisting that President Tinubu should take responsibility for what he described as an unprecedented failure of public accountability.
He maintained that if the President cannot restore public confidence through a genuinely independent investigation and ensure that anyone found culpable is held accountable, then he no longer has the moral authority to remain in office.
“President Tinubu owes Nigerians an unreserved apology for presiding over this unprecedented collapse of public accountability,” Atiku said.
“If he cannot immediately restore public confidence through a genuinely independent investigation and ensure that everyone responsible is held to account, then he has forfeited the moral authority to continue in office. The honourable course is simple: apologise to Nigerians and resign.”