Fresh concerns have emerged over Nigeria’s public finances. Atiku Abubakar has asked anti-corruption agencies to investigate an IMF claim that trillions of naira in government spending did not appear in recent budgets.
ABUJA, FCT — Former Vice President Atiku Abubakar has called on the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate allegations that Nigeria excluded public spending estimated at about N8.8 trillion from recent national budgets. He made the call after comments by the International Monetary Fund (IMF) on Wednesday, according to reports by TheCable.
Atiku said the allegation raises serious questions about transparency and accountability in the management of public finances. According to him, the anti-graft agencies should determine whether any laws were violated and identify those responsible if the IMF’s assessment proves accurate. The former presidential candidate argued that Nigerians deserve clear explanations on how public funds are managed.
The controversy followed remarks by Christian Ebeke, the IMF’s Resident Representative in Nigeria, who said public spending equivalent to about two percent of Nigeria’s Gross Domestic Product (GDP) was omitted from recent fiscal accounts. According to Ebeke, the omission makes Nigeria’s fiscal deficit appear lower than the government’s actual borrowing requirement. He made the remarks during a public presentation on Nigeria’s economic outlook.
The Federal Government has yet to issue a detailed response to the IMF’s specific claim at the time of filing this report. Nigeria has continued to implement fiscal reforms aimed at increasing revenue, reducing budget deficits and improving public financial management. International financial institutions have repeatedly encouraged stronger fiscal transparency as part of broader economic reforms.
The development means the IMF’s allegation could attract closer scrutiny of Nigeria’s budgeting process if anti-corruption agencies act on Atiku’s request. Any investigation by the EFCC or ICPC could examine whether government expenditure accurately reflected official budget documents and whether existing financial reporting standards complied with Nigerian laws. The outcome may also influence public confidence in ongoing fiscal reforms and future budget planning.
