Headlines
Financial Crisis Hits PDP
- Have 20 Dormant Accounts
- Debts Now N872 million
- Can’t Pay Bills, Staff
All is not well with the Peoples Democratic Party(PDP) that once pride itself as the largest party in African, if its financial reports presented to the new chairman are to be relay on, as the party is not only is in dire need of a financial lifeline , but a bailout of a sort.
The party is in a serious financial crisis to the extent that it is finding it very difficult to meet its obligations, and may not even be able to pay its workers by the end of this month, all no thanks to the precarious financial situation the former ruling party is facing.
According to an internal report of the party’s Finance Directorate, prepared as part of the handover document to the new national chairman, Senator Ali Modu Sheriff, by the director of finance, Chief J.O. Omuya, the party has as at last week, had a very hug debt of not less than N872 million.
The report shows that this debt is as a result of accumulated bills and liabilities that are outstanding, and the party is finding it difficult to offset them.
It gives the breakdown of the indebtedness as follows; bills and other claims that have been awaiting payment from January 1, 2014 to date, as; N12, 487, 160, for utilities and security, just as it says N73, 457, 912 is for staff related issues, while N73, 724,000 is for members of the party’s National Working Committee (NWC), while on the other hand, N37, 049, 715 is what the party owes its contractors. Similarly, legal bills now stands at N30, 750,000, and N232, 138,273 is for other out standings.
Accordingly, the report also noted that the party has not been able to pay properly approved bills that dates back from April 2012 to 2013.
These claims still waiting payment includes; N125, 977,713 for staff related issues, N125,712,740, for NWC expenses it is N125, 977,713, and N79,896,503 is for contractors, N36,350,000, for legal bills, it is N38,608,275, for publicity it is N51,700,000, for congresses, and N29,052,427 for other issues.
However, before April 2012, the party had outstanding payments of N2,064,674 for staff issues, N1,000,000 expenses for NWC members, N23,383,500 was for payment of contractors, N11, 300,000 as legal bills, N21,600,000 for congresses and N79, 949, 750 as others.
Also lamenting the precarious financial situation of the PDP, the report described it as ‘From hand to mouth’, particularly its zone 5 national secretariat, commonly referred to as Wadata House, which was once the most powerful place in the country.
“In recent years, the National Secretariat has been living from hand to mouth and with no well-defined and sustainable means of regular income, safe for the funds realised from the sale of forms in 2014 for the 2015 general elections, which has been expended’’ noted.
The report also quoted the director of finance as lamenting the refusal of state chapters of the party to pay their usual monthly dues, despite approval to this effect since 2009.
It noted that in the year 2009, the party leadership had approved a monthly due of one million naira to be paid by each of its 36 chapters, including the Federal Capital Territory, across the country, for the running of the national secretariat, however, even this due, as noted by the report, states have since stopped paying, thereby compounding the party’s already bad situation.
Part of the report reads: “In 2009, the leadership of our great party decided that each PDP state should contribute a monthly sum of one million naira only for the running of the National Headquarters. For over a year now, the states have stopped making this payment to the national secretariat.”
Despite this indebtedness, the report told Senator Sheriff that the party still operates several small bank accounts that were not active, which the report recommended the closure of most of them.
“the party has over 20 dormant bank accounts with small balances”, hence the Finance Directorate has recommended the closure of most of the accounts.
From the report, shortly before Ali Modu Sheriff took over as chair of the party, in February this year, PDP could only boast of a mere N616,654,205, as both cash and bank balance, while another N8,266,146, remained stocked in some 20 inactive accounts, and another N508,674,108, is held at Sky Bank as a result of litigation.
“as at the close of business on 19th February, 2016, the party’s cash and bank balances stood at N616, 654, 205. It is important to highlight, N8, 266, 143 is held in over 20 dormant bank accounts while N508, 674, 108 held at Skye Bank is currently the subject of litigation for mereva injunction, leaving a paltry sum of N99, 714,954”.
The report said “as at date, outstanding bills, claims and other liabilities that have been passed to the Finance Directorate for payment, but which have not been paid for lack of funds amounted to N872 million.
“The party is facing serious financial quagmire at present There is no adequate and regular source of income to meet its regular expenses and overheads. What used to come in as monthly stipend has become grossly insufficient to pay staff salaries, utilities and NWC monthly allowances, not to talk of other pressing party activities and obligations.
“One major challenge which the new National chairman will be confronted with therefore, is the need to pay most of the outstanding genuine bills, claims and liabilities to avoid embarrassment”, the report stated.
According to the report, at its 319th meeting of October, 2012, the NWC approved new amounts as monthly imprest for the running of national officers and directorates. “Unfortunately, due to paucity of funds, it has not been paid since February 2013. “Most officers have been using their personal funds to run their offices”
It also draw attention of the new head of the party to the fact that existing motor vehicles, furniture, fixtures, fittings and equipment of the party have reached the end of their estimated economic life, and have been fully depreciated, except for the purchases and additions made from January 2013 to date. The need to replace most of them is important as the cost of repairs are getting higher.
But a PDP Stewart who do not want to be mentioned in print, told nationalTRAIL that as at about nine months ago when Alhaji Adamu Mu’azu, resigned as chairman of the party, PDP was very buoyant, and wonder how it can be so broke at this time.
“How can just in less than a year, just about a months, this great party of ours can be this embarrassing broke, I really pity Senator Ali Modu Sheriff, he has a very big task, but members of the NWC who held sway all these months must be made to give account, if the party must be strong to confront the APC.” The source concluded.
By Emmanuel IFFER
Headlines
2027: THE MANY WARS IN PARTIES
☆ ADC, PDP, NDC, LP Tacle APC Amidst Internal Wranglings.
☆ Party primaries trigger godfather vs godson clashes.
By: Our Special Correspondent.
Election periods always make Nigeria a political melting pot. Tensions, intrigues, violence, manipulations and grandstanding have been the order.
2027 may not be an exception, as already, the polity is heating up and political players are up in arms.
Between political parties, battle lines are being drawn.
It is no longer news that, President Bola Ahmed Tinubu of the APC, former Vice President Atiku Abubakar of the ADC and former Anambra state governor, Peter Obi of the NDC have secured the presidential tickets for their various political parties, ahead of the 2027 elections.
While Nigerians await the outcome of the presidential primaries for the other parties, it is apparent that the leading dramatis personae of the 2023 presidential election debacle, are set to square it out again in 2027.
But, while most, if not all the opposition political parties are emershed in multi-dimenssional crisis, the stage seems set for dirtier political schemings, in the quest to wrestle power from the ruling APC.
With the apparent collapse of the much talked about coalition, frontline candidates may again go into the election as a divided house, as the parties are further polarized by the attendant crisis arising from the just concluded primaries.
The ruling APC, also faced with similar crisis following the primaries. The primaries of all the parties seem to have sparked internal wranglings
across Edo, Delta, Lagos, Oyo, Kano, Rivers and other states. In most states, the primaries for governorship, Senate and House of Representatives seats have triggered deepening crises between governors, former governors, senators and entrenched party blocs.
While one may regard such disagrerments as normal and could be resolved before the main election, the disagreement between President Tinubu and the opposition may linger.
The President is fighting hard to ward of attacks over his failed promises which were made in 2023, as campaign issues.
Similarlly, the issue of insecurity, fuel subsidy, pol8cy summersault, and general cost of living have been brought to the front burner, in political discourse.
Tinubu told Nigerians on Friday that subsidy removal and forex reforms have revived investor confidence, lifted market cap to 250,000 points, and drawn new oil and gas investment. He also said security operations have “intensified” against bandits, separatists and insurgents.
But critics insist that Tinubu’s camp is working to cripple opposition parties reminescent of the Abacha-era dark days.
In apparent move to realign forces and reshape 2027, NDC’s Peter Obi has announced Rabiu Musa Kwankwaso as his running mate.
Obi told a gathering brfore naming Kwankwaso as his running mate, that, the Vice President office under him, will be “an active partner, not ceremonial”. The NDC held a special convention Saturday to affirm Obi as flagbearer where he promised 10,000MW electricity generation. Labour Party has also presented Dr. Chibuzo Okereke as its presidential candidate, a lowly rated personality.
At the sub-national level, political players are pulling the strings from different end. Most governors are being accused of imposing their cronies as governorship, senate, House of Representatives and House of Assembly candidates.
The national leadership of the APC has been struggling hard to adress the widespread crisis occassioned by the primaries. The APC, in Lagos amidst the internal wars, has picked Princess Damilola Sonayon-James as running mate to Lagos governorship candidate Dr. Obafemi Hamzat. Both are seen as stooges of the governor and by extenssion the President.
In Rivers, FCT Minister Nyesom Wike has vowed that, the APC “Rainbow Coalition” will agree on one governorship candidate and that ADC’s Atiku won’t get 10% of Rivers votes. Though the candidate has not yet been named.
Wike also declared “Rivers has no option but to back Tinubu”.
In several states, there have been massive decampments from the APC in particular, because of unfavourable outcomes of the primaries.
All these point to a turbulent outing for the APC, even as the ruling party.
As for the opposition parties, they all have been emasculated, and may not be able to pose much threat to the ruling APC.
While the political wranglings were going on the most serious threat to the APC remains the rising concern over insecurity. The issue seem to have ignited anger across the country, with Federal Workers Forum threatening an indefinite nationwide strike over rising insecurity and unresolved wages. SERAP, has meanwhile urged the UN Secretary-General to invoke Article 99 over Nigeria’s “escalating insecurity—mass abductions, killings, displacements”.
Headlines
“Nigeria Is in a Hurry to Celebrate Victory Over Enemies of the State,” Says Tinubu as He Decorates New Service Chiefs
By: Fabian Apechihin
President Bola Ahmed Tinubu has urged the newly appointed service chiefs to discharge their duties with utmost dedication and renewed commitment, declaring that “Nigeria is in a hurry to celebrate victory over enemies of the state.”
The President made this statement on Thursday during the decoration ceremony of the new service chiefs with their ranks at the Aso Rock Presidential Villa in Abuja.
Those decorated were General Olufemi Oluyede as Chief of Defence Staff, Lieutenant-General Wahidi Shaibu as Chief of Army Staff, Air Marshal Kennedy Aneke as Chief of Air Staff, and Vice Admiral Idi Abbas as Chief of Naval Staff.
The ceremony was attended by Vice President Kashim Shettima and the spouses of the newly promoted officers, who joined the President in performing the decorations.
In his address, Tinubu underscored the central role of security in fostering national development and reaffirmed his administration’s commitment to protecting the lives and property of all Nigerians.
“Security is an essential element without which everything else becomes meaningless,” the President stated. “There can be no sustainable development if this fundamental need is not met. Our people and our nation must remain secure to enjoy the dividends of governance.”
The elevation and decoration of the new military chiefs followed their confirmation by the National Assembly on Wednesday, after a closed-door screening session with lawmakers.
It will be recalled that, in a recent overhaul of the nation’s military hierarchy, President Tinubu appointed:
- Lieutenant General Olufemi Olatubosun Oluyede as Chief of Defence Staff,
- Major General Waidi Shaibu as Chief of Army Staff,
- Rear Admiral Idi Abbas as Chief of Naval Staff,
- Air Vice Marshal Sunday Aneke as Chief of Air Staff, and
- Major General Emmanuel Undiandeye retained as Chief of Defence Intelligence.
The new appointments mark a strategic restructuring of Nigeria’s security leadership aimed at strengthening the fight against insurgency, banditry, and other threats to national stability.
Headlines
FG Dismisses Coup Rumour, Reaffirms Confidence in Nigerian Military
By: Fabian Apechihin
The Federal Government has dismissed widespread rumours of an alleged military coup plot against President Bola Tinubu, declaring its full confidence in the loyalty and professionalism of the Nigerian Armed Forces.
Minister of Information and National Orientation, Mohammed Idris, made this known in an interview with The Punch on Sunday, insisting that the administration has “no reason whatsoever” to doubt the assurances given by the Defence Headquarters, which had earlier denied reports linking the detention of 16 military officers to a coup attempt.
“The Federal Government has no reason to doubt the military on what it has said,” Idris stated.
“We believe the Armed Forces of Nigeria remain committed to protecting the nation’s territorial integrity and strengthening the fight against insecurity. The government commends their sacrifice and will continue to support them in safeguarding the country.”
The minister’s remarks came a day after the Director of Defence Information, Brigadier General Tukur Gusau, firmly debunked a report by Sahara Reporters alleging that the detention of 16 officers was connected to a failed coup plot and the cancellation of the 65th Independence Day parade.
Gusau described the publication as “false, mischievous, and deliberately aimed at creating unnecessary tension and public distrust.”
He clarified that the cancellation of the October 1 Independence Day parade was a purely administrative decision — taken to allow President Tinubu attend a key bilateral meeting abroad and to enable military units sustain ongoing counterinsurgency operations nationwide.
On the issue of the detained officers, Gusau said their case was “an internal disciplinary process” and not related to any political matter.
“The investigation involving the 16 officers is routine, aimed at upholding discipline and professionalism within the ranks,” he explained. “An investigative panel has been constituted, and its findings will be made public in due course.”
Reaffirming the military’s constitutional role and unwavering commitment to civilian rule, Gusau stressed emphatically:
“Democracy is forever.”
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