Poging GOUD - Vrij

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).

- BY NIYI JACOBS

Defections, Denials, and EFCC: Politics on Trial

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.

While Ibe did not name names, his reference to the South-South zone-and the timing-coincides with the recent defection of Delta State Governor Sheriff Oborevwori and his predecessor Ifeanyi Okowa. Both men left the PDP for the APC in April. Similarly, Akwa Ibom's Governor Umo Eno has expressed interest in dumping the PDP, citing concerns about his political future in a weakened opposition.

In this context, Ibe's claims seemed aimed at suggesting that these defections were not organic, but orchestrated-perhaps under pressure, perhaps with incentives.

MEER VERHALEN VAN The Business NG

The Business NG

Experts Predict Stronger Naira in 2026

•Naira Poised for Stronger Gains in 2026 - Experts, BDCs

time to read

1 min

BusinessNg

The Business NG

14 Nigerian Banks Yet to Meet CBN Recapitalization Deadline

With just eleven weeks to go before the Central Bank of Nigeria's (CBN) recapitalization deadline, 14 Nigerian banks have yet to meet the apex bank's minimum capital requirements.

time to read

1 min

BusinessNg

The Business NG

CBN OMO Auction Attracts N2.73 Trillion

The Central Bank of Nigeria (CBN) opened the 2026 monetary year with a strong show of investor confidence at its first Open Market Operations (OMO) auction, drawing total subscriptions of N2.727 trillion.

time to read

1 min

BusinessNg

The Business NG

Rivers Boils, Tinubu Watches

The escalating political crisis in Rivers State has once again placed President Bola Ahmed Tinubu at the centre of a high-stakes power struggle, as impeachment proceedings against Governor Siminalayi Fubara threaten the fragile peace he personally brokered in the state.

time to read

1 min

BusinessNg

The Business NG

POS Operators in CAC Registration Row

The Association of Mobile Money & Bank Agents in Nigeria (AMMBAN) has clarified that its members do not require Corporate Affairs Commis-

time to read

1 min

BusinessNg

The Business NG

PwC Warns 141m Nigerians May Fall into Poverty by 2026

Poverty in Nigeria is expected to worsen significantly, with an estimated 141 million people—about 62% of the population—likely to live in poverty by 2026, according to PwC's Nigeria Economic Outlook 2026: Turning Macroeconomic Stability into Sustainable Growth.

time to read

1 min

BusinessNg

The Business NG

Over 93% of Nigeria's Cash Circulates Outside Banks - CBN

Nigeria's cash economy remained overwhelmingly dominant in 2025, with the majority of physical currency continuing to circulate outside the formal banking system, according to the Central Bank of Nigeria's (CBN) latest money and credit statistics.

time to read

1 min

BusinessNg

The Business NG

229 Bank Branches Shut in One Year as PoS Transactions Rise

Nigeria's banking industry is accelerating its transition toward digital and agent-based services, with 229 physical bank branches shut across the country within one year as customers increasingly embrace Point of Sale (PoS) terminals and other electronic payment channels for everyday transactions.

time to read

1 min

BusinessNg

The Business NG

Resident Doctors Set to Resume Nationwide Strike January 12

Resident doctors across Nigeria have announced plans to resume a nationwide strike on January 12, 2026, following what they described as the Federal Gov-

time to read

1 min

BusinessNg

The Business NG

FG Drops Criminal Case Against Senator Natasha Akpoti-Uduaghan

The federal government has formally withdrawn the criminal charge it instituted against Natasha Akpoti-Uduaghan, the sena-

time to read

1 min

BusinessNg

Listen

Translate

Share

-
+

Change font size