A Yoruba socio-political organization, Ìgbìnmó Májékóbájé Ilé-Yorùbá, has called for a formal investigation into allegations of fiscal irregularities within the federal government, specifically regarding ₦8.8 trillion in public expenditure that purportedly does not appear in official budget records.
The group’s demand follows recent reports citing data from the International Monetary Fund (IMF), which suggested that public spending equivalent to approximately 2% of Nigeria’s Gross Domestic Product (GDP) has remained unaccounted for in recent budgets. The IMF representative in Nigeria, Christian Ebeke, had previously highlighted this statistical discrepancy, urging that such expenditures be properly recorded to align the country’s reported fiscal deficit with its actual financing requirements.
In a statement released on Saturday by the group’s leadership, including Convener Olusola Badero and Home Director Princess Balogun, the organization accused the administration of President Bola Tinubu of exercising “unprecedented fiscal impunity.”
The group expressed deep concern over the lack of transparency in financial management, questioning the purpose and destination of these off-budget funds.
“How can a country battling one of the highest poverty rates in the world have expenditures that are carried out off-budget?” the statement read.
The union further highlighted the nation’s ongoing socio-economic challenges, including high rates of out-of-school children and limited access to formal healthcare, to emphasize that such large sums of public money should be subject to strict oversight.
The organization has formally requested that the National Assembly initiate a comprehensive probe into the matter to ensure accountability.
While expressing skepticism regarding the legislature’s current stance, the group maintained that lawmakers have a constitutional obligation to investigate these discrepancies in the interest of public transparency and posterity.
The group warned that a lack of financial accountability at the highest levels of government undermines democratic governance and fosters an environment where the misuse of public resources can flourish.
They concluded by demanding that the administration provide a clear account of how national funds are utilized, stressing that Nigerians deserve full transparency in the management of public resources.
