A fresh controversy over the finances of the Federal Capital Territory (FCT) has emerged after Senator Ireti Kingibe accused FCT Minister Nyesom Wike of obtaining loans without securing approval from the National Assembly.
Kingibe made the allegation during an interview on Tuesday, insisting that, to her knowledge, the Senate had not approved any such borrowing by the FCT minister.
“I am definitely saying he's been taking loans without the approval of the National Assembly. I don't know about the House, but certainly not the Senate,” she said.
The senator challenged anyone disputing her allegation to produce the relevant parliamentary records showing that Wike had approached the National Assembly and obtained approval for the loans.
According to Kingibe, records relating to loans allegedly obtained between August 2023 and March 2026 should be available through the National Assembly's official proceedings.
She argued that the minister's authority could not exceed that of the President, from whom his powers over the FCT are derived.
Kingibe's comments have consequently placed the spotlight on the constitutional and administrative processes governing borrowing by the FCT and whether such financial obligations require legislative scrutiny or approval.
The allegations remain claims by Senator Kingibe and have not been independently established.
A substantive response from Wike or the FCT Administration would be required to clarify whether any loans were obtained, the institutions involved, the amounts borrowed, the legal authority under which they were secured and whether the National Assembly was consulted or approved them.
The issue also raises a broader question about transparency in the management of FCT finances.
If the alleged borrowing occurred, questions would include:
- Who authorized the loans?
- Which financial institutions provided the funds?
- What were the amounts and repayment terms?
- What projects were financed?
- Was National Assembly approval required?
- What records exist in the National Assembly's votes and proceedings?
Political commentators have urged both the FCT Administration and the National Assembly to clarify the matter rather than allow the controversy to be settled through political exchanges.
The National Assembly's records could provide an important part of the answer if they show whether the FCT or the minister formally sought legislative approval for borrowing during the period cited by Kingibe.
The controversy comes as scrutiny of public borrowing and government spending continues to intensify across Nigeria, with citizens increasingly demanding greater transparency over how public funds are raised and spent.
For now, the central issue remains unresolved: Did the FCT incur the loans alleged by Senator Kingibe, and if so, under what authority were they obtained?
An official response from Wike, the FCT Administration and the relevant National Assembly authorities would be necessary to settle the matter.
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