Former Vice President and presidential candidate of the African Democratic Congress (ADC), 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 the Federal Government failed to capture public expenditures amounting to approximately ₦8.8 trillion in recent national budgets.
In a statement issued on Saturday, Atiku said the allegation was based on findings contained in the latest International Monetary Fund (IMF) Article IV consultation report, published on July 1, 2026.
According to the former vice president, the report indicated that public expenditures equivalent to about two per cent of Nigeria’s Gross Domestic Product (GDP) were executed outside the country’s official budget framework.
Atiku said that, based on Nigeria’s estimated GDP of approximately ₦441.5 trillion, the figure translates to about ₦8.8 trillion in public funds allegedly spent without being captured in the national budget.
“I view this revelation with the gravest alarm,” he said, urging the media, civil society organisations, the National Assembly and other democratic institutions to focus attention on what he described as a major issue of fiscal accountability.
He attributed the claim to comments reportedly made by the IMF’s Resident Representative in Nigeria, Christian Ebeke, during the Article IV consultation.
According to Atiku, the alleged discrepancy arose from large-scale government projects executed outside the statutory budgetary process.
“The Tinubu administration is awarding multi-trillion-naira contracts, moving massive public capital and commissioning infrastructure projects entirely beyond the reach of the Auditor-General, the nation’s procurement laws and the legitimate oversight of the National Assembly,” he alleged.
Describing the situation as a “parallel fiscal universe,” Atiku argued that such expenditures, if confirmed, would undermine constitutional provisions on public finance and accountability.
The former vice president called on the EFCC, ICPC and other relevant anti-corruption agencies to commence independent investigations into the alleged off-budget expenditures as well as what he described as unlawful deductions from statutory allocations due to state governments.
He further alleged that the current fiscal practices mirror revenue management arrangements previously associated with Lagos State during President Bola Tinubu’s tenure as governor, claiming that similar off-budget mechanisms were now being replicated at the federal level.
Atiku also alleged that about ₦800 billion had been deducted from allocations due to state governments without constitutional or legislative approval.
According to him, the alleged ₦800 billion deductions, together with the reported ₦8.8 trillion in unrecorded expenditures, raise concerns about fiscal transparency and accountability.
He urged relevant oversight institutions to thoroughly investigate the allegations and ensure that public funds are managed in accordance with the provisions of the Constitution and existing financial regulations.
The Federal Government has not officially responded to Atiku’s claims. Likewise, the IMF has not issued any additional clarification beyond its published Article IV consultation report.
