President Buhari abandons APC over mismanaged N7bn fund

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– President Muhammadu Buhari ignores All Progressives Congress

– The All Progressives Congress is experiencing financial crunch

– There is allegations of financial mismanagement involving huge amount against leaders of the party

President Muhammadu Buhari has snubbed the All Progressives Congress (APC) over allegations of financial mismanagement against leaders of the party.

The Cable reports that the party is currently facing financial crunch but the president is not willing to “bail out” the party. A source privy to the “financial standoff” revealed that the party cannot even pay the salaries of its staff. The source added that some officials of the party allegedly hijacked N7billion campaign funds in the last general election.

“The president is furious with the party leaders, and has refused to support them financially. The party now runs after state governors in a bid to survive, and has begun to knock on the doors of ministers,” the source said.

It was gathered that the meeting the leaders of the party held with Vice-President Yemi Osinbajo at the presidential villa, on February 24, had as its major discussion, the financial crisis rocking the party.

Recall that the national chairman of the party, John Oyegun, at a news briefing on January 25, acknowledged that the party was experiencing financial challenges, but pointed out that the party does not want to bother President Buhari as it was not his constitutional right to finance the party.

“There has been this talk in the media but that goes to tell you that just like the economy, the party too is suffering from the stresses and strains of funding just like every institution in our polity.

“That also goes to tell you that we are not a party that withdraws money from security votes or from any government agency. We are working on plans to raise money from within the memberships. That plan has matured and will soon put it into operation.

 

“I saw reports that we have written to the president to rescue the party. That is not part of his national duties and he has no intention because there are no funds from which he can draw from.

The party has to come up with fresh and innovative ways as to how to raise resources for its operations and that, we have done. The plan is ready and will go into operation in the next one month or two,” Oyegun said.

Oyegun in an interactive session with journalists at the APC headquarters in Abuja, had earlier admitted that the financial strains that party was going through is because of the harsh economic situation in Nigeria and assured that the party is working tirelessly to raise funds within itself.

The party after considering the implication of its disclosure issued a statement through its national secretary, Mai Mala Buni, saying some news medium had unfairly, unethically twisted and misrepresented the comments credited Oyegun, while speaking on the issue of party funding during an interactive session with journalists at the APC headquarters in Abuja on January 25. In the session, Oyegun was quoted to have said:

“There has been this talk in the media but that goes to tell you that just like the economy, the party too is suffering from the stresses and strains of funding just like every institution in our polity. That also goes to tell you that we are not a party that withdraws money from security votes or from any government agency.”

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