Atiku promised an independent investigation into the ₦33.75 billion cash transfer fund

African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, says he will set up a team of independent experts to investigate alleged ₦33.75 billion in cash aid reportedly given to millions of vulnerable households in Nigeria.

Atiku’s position follows concerns raised in an audit report over whether funds said to have been paid to 3.29 million households actually reached the intended beneficiaries.

In a statement issued on Saturday by Senior Special Assistant on Public Communications, Phrank Shaibu, the former Vice President described the audit concerns as a serious indictment of a government that removed fuel subsidies and introduced other economic policies while promising interventions to cushion their impact on vulnerable Nigerians.

The statement argued that the reported amounts distributed were insufficient when broken down by the number of beneficiaries.

According to Atiku, ₦33.75 billion distributed among 3.29 million households translates to about ₦10,258 per household.

He said Nigerians deserved answers, especially as the intervention came amid rising transport, food and energy costs.

“This is more than just an accounting scandal. The intervention was very small, but even such a small amount cannot be clearly accounted for. If money intended for starving Nigerians cannot be traced satisfactorily while access to records required for accountability is not met, then what we are witnessing is an irreparable crime against the poor. You cannot punish people with hardship and then play hide and seek with the money expropriated in their names,” Atiku said.

The former Vice President also praised the Auditor General of the Federation, Shaakaa Chira, for carrying out what he described as his constitutional responsibilities despite the political implications of the audit findings.

“That’s what institutions should be doing – protecting public finances, not the political convenience of those in power,” he said.

Atiku further questioned the consistency of figures provided by the Federal Government regarding the number of households benefiting from its intervention programmes.

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Despite claims that over ₦600 billion had been distributed to over 10 million households, he said Nigerians had previously been told that about 15 million households were expected to receive the benefits.

“It now appears that the Tinubu administration is unable to provide Nigerians with a clear picture of how many households have actually benefited from its intervention programmes, while most of the expenditure has failed to withstand the scrutiny of independent audits,” he said.

He insisted that official announcements alone cannot replace actual proof of payment.

“The minister’s announcement is not proof of payment. The name on the social list is not a bank alert,” said Atiku.

The ADC presidential candidate also referred to reported audit concerns surrounding payments worth ₦36.74 billion that were allegedly made without prepayment audits, as well as ₦4.62 billion for which payment vouchers were reportedly not made.

“This cannot simply be ignored as there are some false figures buried in government accounts. These are resources confiscated in the name of poor Nigerians who are in dire need of protection from a cost of living crisis exacerbated by the government’s reckless economic policies,” he said.

Atiku believes the government cannot be expected to investigate allegations surrounding expenditures made under its own watch, which is why he decided to set up an independent team.

“My team will assemble an independent group of financial, audit, technology and public accounting experts to interrogate the available records surrounding these cash assistance payments. We will trace the funds to the extent available in public and institutional records. We will examine beneficiary figures, payment channels, reconciliation records, audit inquiries and any material inconsistencies that arise. When that work is complete, we will provide the findings to Nigerians.

“There should be no black box around poor people’s money. If Remita is processing these transactions, the relevant records must be available for inspection. If the recipient received the money, there must be proof. If access to records is hampered, Nigerians have the right to know by whom and why.”

Beyond the planned probe, Atiku argued that government interventions should focus more on strengthening the productive capacity of the economy and reducing the daily cost of living for Nigerians.

He said his country needs policies that can increase purchasing power rather than temporary interventions that provide only limited assistance.

“Our interventions will follow production. This will support domestic refining, increase local supply, reduce energy costs and ensure that the benefits reach Nigerians through lower prices. When fuel prices fall, transport costs decrease; when transport costs decrease, pressure on food prices and household budgets is reduced,” he said.

The former Vice President stressed that Nigerians should not experience greater economic hardship while questions regarding funds allocated to cushion the impact of government policies remain unanswered.

He said the government must provide a transparent and verifiable explanation of how the cash assistance was handled.

“And if investigations show that any official diverted, misappropriated or misused funds meant for vulnerable Nigerians, such officials must face prosecution. The poor have paid enough through higher fuel prices, food costs, electricity bills, transport fares and taxes. They should also not lose money taken in their name,” he said.

Atiku added that when the original beneficiaries receive the funds, the government should be able to provide a verifiable path for payment, while any money found not reaching the intended recipients should be returned and those responsible should be held accountable.