Obiasogu David Slams Tinubu as Fake Agency Scandal Erupts Over ₦1.3bn Budgeted and ₦8.8tn Loot Claims
Abuja, Nigeria – July 5, 2026 — A explosive fake agency scandal has engulfed the Bola Tinubu administration, with political analyst Obiasogu David delivering a scathing rebuke over a non-existent entity that allegedly secured ₦1.3 billion in the 2026 budget and federal funding since 2024.
David sharply questioned how the so-called Presidential Foreign Intervention Promotion Council (or similar) infiltrated official channels, operated from the Federal Secretariat, maintained a .gov.ng website, and engaged top government officials despite the Presidency’s denial of its existence.
His comments come as separate reports highlight ₦8.8 trillion in allegedly unrecorded public expenditure, intensifying scrutiny on fiscal transparency.
According to multiple accounts, the agency featured in budget documents with a dedicated line item, payroll, and physical presence.
Critics argue this points to serious lapses in oversight by the Budget Office, National Assembly, and security agencies.
The Presidency has ordered investigations into its origins, funding trail, and how it evaded detection.
Obiasogu David described the saga as symptomatic of broader accountability failures.
He noted that before the public could fully digest the agency controversy, fresh claims of ₦8.8 trillion in off-budget or unaccounted spending surfaced — raising alarms about systemic weaknesses in public finance management.
The financial concerns are amplified by observations from the International Monetary Fund.
IMF Resident Representative Christian Ebeke highlighted expenditures equivalent to roughly 2% of Nigeria’s GDP (about ₦8.8 trillion) not fully captured in official records, primarily linked to off-budget infrastructure initiatives.
Opposition voices, including Atiku Abubakar, have demanded comprehensive probes, labeling it a “shadow treasury.”
Government defenders maintain the spending supported vital projects through legitimate borrowing and point to positive IMF remarks on wider reforms.
Social media has lit up with reactions ranging from shock and demands for accountability to questions about how such irregularities persist.
Many Nigerians are urging independent investigations by the EFCC, ICPC, Auditor-General, and National Assembly to restore confidence in governance.
David’s intervention has resonated strongly, framing the incidents as part of a worrying pattern since 2023 and calling on citizens to demand greater transparency.
As the investigations unfold, the dual controversies threaten to undermine public trust in the budgetary process at a time of economic hardship.
Experts warn that unresolved issues around ghost agencies and off-budget spending could impact investor sentiment and reform credibility.
The Tinubu government faces mounting pressure to deliver clear, credible answers and demonstrate stronger institutional safeguards.
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