Prøve GULL - Gratis
Defections, Denials, and EFCC: Politics on Trial
The Business NG
|The BusinessNG
In Nigeria's politically charged atmosphere, where shifting allegiances can make or break power blocs, every defection is a headline—and every meeting, a potential conspiracy.

This reality came to the fore once again following allegations by Paul Ibe, the longtime media aide to former Vice President Atiku Abubakar, who accused Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), of holding a secret meeting with two governors just before their dramatic defection to the ruling All Progressives Congress (APC).
The allegation, made during an interview on Channels Television, was explosive, even by Nigeria's standards. Ibe didn't provide names but claimed the meeting took place at a government lodge in a South-South state. He said both the incumbent governor and his predecessor were present, as well as the Solicitor-General of the Federation.
These claims, arriving at a moment when the APC is witnessing an influx of opposition figures, touched a raw nerve. They were quickly and sternly denied—not just by the EFCC but also by the Office of the Attorney-General of the Federation.
But beyond the denials and outrage lies a bigger story: the slow erosion of public trust in democratic institutions, the weaponization of anti-corruption agencies, and a gathering political storm ahead of 2027.
Paul Ibe's accusation, though lacking specifics, sent ripples through the political class. He alleged that 48 hours before two governors switched political allegiance from the Peoples Democratic Party (PDP) to the APC, they met secretly with the EFCC chairman and the Solicitor-General.
His comments were made in the context of growing concern that Nigeria is edging dangerously close to becoming a one-party state. Several high-profile defections, particularly from the PDP to the APC, have raised suspicions about the motivations behind such moves.
Denne historien er fra The BusinessNG -utgaven av The Business NG.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA The Business NG
The Business NG
Nigerian Stocks Outpace Inflation with 38% Gain
Nigeria's stock market has continued its impressive rally in 2025, delivering real positive returns for investors as inflation eases.
1 min
The BusinessNG
The Business NG
Banks Push Back as AMCON Levy Hits N847bn
Calls Grow to Scrap AMCON After 15 Years
1 min
The BusinessNG
The Business NG
Nigerians Dismiss FG's N330bn Cash Transfer Claim
The Federal Government's claim that it disbursed 330 billion in cash transfers to poor and vulnerable households has sparked widespread disbelief, with many Nigerians dismissing the announcement as fraudulent and lacking transparency.
1 min
The BusinessNG
The Business NG
Pension Savings for Informal Workers Surge to N1.46bn
Nigeria's informal workers are increasingly securing their financial future, with retirement savings under the Personal Pension Plan (PPP) climbing by 765 percent in just four years, according to the Pension Fund Operators Association of Nigeria (PenOp).
1 min
The BusinessNG
The Business NG
Ibas Bows Out, Says Peace Is Rivers' Gain
Retired Vice Admiral Ibok-Ete Ibas, who served as Sole Administrator of Rivers State for six months, says his administration succeeded in restoring peace and stability in the state despite operating under extraordinary conditions.
1 min
The BusinessNG
The Business NG
Banks Must Approve MDs Six Months Ahead – CBN Orders
The Central Bank of Nigeria (CBN) has directed Domestic Systemically Important Banks (DSIBs) to secure regulatory approval for their Managing Director/Chief Executive Officer (MD/CEO) successors at least six months before the incumbent’s tenure ends, as part of efforts to strengthen corporate governance and ensure stability in the financial system.
1 min
The BusinessNG
The Business NG
FG Backs Down on 5% Fuel Tax Implementation
The Federal Government has clarified that it has no immediate plan to enforce the controversial 5% Petroleum Products Tax provided in the recently enacted tax legislation.
1 min
The BusinessNG
The Business NG
NAICOM Sets July 2026 Deadline for Insurance Recapitalisation
The National Insurance Commission (NAICOM) has issued fresh guidelines on the minimum capital requirements (MCR) for insurance and reinsurance firms in Nigeria, directing all operators to fully comply by July 30, 2026.
1 min
The BusinessNG
The Business NG
Banks' Loan Rates Soar to 36%, SMEs Struggle to Survive
Nigerian businesses are reeling under the weight of soaring bank lending rates, which now range between 29% and 36%, raising fears of slower growth, stalled investments, and rising job losses.
1 min
The BusinessNG
The Business NG
NUPENG Strike: Fuel Supply Secured, Dangote Tells Nigerians
Dangote Refinery has dismissed fears of looming fuel shortages following the nationwide strike declared by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).
1 min
The BusinessNG
Listen
Translate
Change font size