Ireti Kingibe Accuses Nyesom Wike of Taking FCT Loans Without Senate Approval
The ongoing friction between the Senator representing the Federal Capital Territory (FCT), Ireti Kingibe, and FCT Minister Nyesom Wike has taken a fresh turn over legislative oversight and public expenditure.
Speaking on Channels Television’s Political Paradigm, Senator Kingibe alleged that Minister Wike has consistently secured loans on behalf of the FCT without obtaining statutory approval from the National Assembly.
Key Highlights of the Allegation
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Unapproved Borrowings: Kingibe stated that official records from the Debt Management Office (DMO) show loan accruals between August 2023 and March 2026, despite Wike never appearing before the Senate to seek approval for borrowings.
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Challenge on Record: The lawmaker challenged anyone disputing her position to present the official Votes and Proceedings of the Senate demonstrating when the minister formally sought legislative consent.
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Constitutional Comparisons: Kingibe highlighted that even President Bola Tinubu submits formal loan requests and presidential appointments to the National Assembly, stressing that an FCT Minister cannot operate outside established constitutional boundaries.
“I have never seen Wike come to the National Assembly and before the Senate to ask for approval of anything… If anybody contradicts me, they should bring the Votes and Proceedings of the day that Wike came to the National Assembly to ask for approval.”
— Senator Ireti Kingibe
Sharp Rise in FCT Domestic Debt
The allegation comes against the backdrop of significant expansion in the FCT’s debt profile:
The Minister’s Response
In response to the accusations, Minister Nyesom Wike’s office dismissed the claims through his Senior Special Assistant on Public Communication and Social Media, Lere Olayinka.
The minister’s team maintained that:
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Appropriate Authorizations: The FCT administration has not carried out any transaction without necessary executive and budgetary approvals.
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Standard Communications: Loan submissions and annual budgets for the capital territory are communicated through the Presidency rather than directly by the minister to lawmakers.
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Infrastructure Justification: The 340% increase in domestic debt is a direct reflection of accelerated infrastructure development and increased commercial viability in Abuja, enabling banks to extend credit backed by local revenue performance.
Why This Matters for Abuja Residents
This legal and political dispute highlights critical questions about fiscal governance and accountability in Nigeria’s capital:
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Checks and Balances: DMO revised borrowing guidelines mandate that loan requests by the FCT from financial institutions require a formal resolution from the National Assembly alongside Executive Council approvals.
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Transparency: Without active oversight meetings and legislative scrutiny, residents and policy analysts raise concerns about long-term debt sustainability for the federal capital.
