Former Director General of the Voice of Nigeria, Osita Okechukwu, has revealed that the All Progressives Congress (APC) is currently facing serious financial challenges, claiming the party has no money.
Okechukwu made this disclosure while explaining the reasons behind the party’s massive N8.9 billion debt.
His statement comes after the APC National Chairman, Abdullahi Ganduje, on Wednesday, admitted to inheriting a staggering N8.9 billion debt from his predecessor. Ganduje made the revelation during the APC National Executive Committee (NEC) meeting held in Abuja.
He explained that the debt was mainly from legal expenses incurred during pre-election disputes, election petitions, and appeals across all levels – legislative, governorship, and presidential.
“The current NWC inherited debts and legal liabilities to the total tune of N8,987,874,663, arising from various legal engagements,” Ganduje said.
The NEC meeting was attended by key figures in the ruling party, including President Bola Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, state governors, and other party leaders.
Speaking on the matter during an interview on Arise Television’s Morning Show, Okechukwu traced the root of the financial burden to the party’s longstanding legal battles and disruptions faced during membership registration.
He revealed that the APC’s financial woes began in 2013 when the party attempted to introduce biometric membership registration, an initiative spearheaded by President Bola Tinubu.
According to Okechukwu, the registration process was disrupted when former President Goodluck Jonathan allegedly ordered the Department of State Services (DSS) to shut down the operation, halting their plans to generate revenue through member contributions.
“Since that close down ruptured our plans to have a biometric membership seamlessly and that could have met one of the conditions in our constitution that members should have some tokens to contribute… If those tokens were done, we could not have been owing because we are now bedeviled in a situation,” he explained.
He further pointed out that the party’s inability to generate funds from its members worsened its financial standing.
“The debt came from outstanding legal fees. We didn’t do what the PDP used to do while in the presidency – taxing ministers. We don’t have money,” Okechukwu added.
The revelations have raised concerns about the APC’s financial management as the party continues to grapple with internal disputes and the aftermath of the 2023 general elections.
With the party’s leadership admitting to the enormous debt, questions remain on how the APC plans to resolve its financial troubles while maintaining its political dominance ahead of future elections.