2019: Ex-APC Chief Alleges Plans By Buhari To Withdraw $3.5bn From CBN

A former stalwart of the ruling All Progressives Congress (APC), Timi Frank, has alleged plans by the President Muhammadu Buhari-led presidency to withdraw $3.5 billion from the Central Bank of Nigeria (CBN) to fund the president’s re-election bid.

Frank, a former Deputy National Publicity Secretary of the APC, made the allegation in a statement on Thursday in Abuja.

The former ruling party’s chieftain also alleged that the Presidency is currently exploring other sources such as the Foreign Reserve Account, among others, to see how much it can amass before the presidential election in February 2019.

Frank said: “It is unfortunate that Buhari has decided to jettison his avowed ‘integrity’ and playing along with rouge elements in his cabinet to perpetuate illegality in order to fund his re-election.

“This unholy move further represents a fundamental breach of the Constitution, since the proposed withdrawals have not been presented to the National Assembly for consideration and approval in line with Section 80 (3) of the Constitution.

“He said that the illegal tax assessment against Nigerian businesses and multinationals under the guise of ‘royalty payments’ amounts to double taxation, capable of stifling investment inflows into the country and further fueling the already saturated unemployment situation in the country.

“I am still wondering why a government that is still foot-dragging in approving the payment of N30,000 minimum wage demanded by workers intends to assault the country with such brazen finagling with its commonwealth.

“How can companies already under severe yoke of a depressed economy again be made to cough out $200million in ‘taxes’ with the direct consequences of massive job loses being imminent”? he queried.

Frank equally alleged that the Buhari government plans to devise a similar “criminal method” that the immediate past National Security Officer used to allegedly divert $2.1billion arms money to fund elections.

“How can a government that has locked away the former National Security Adviser, Sambo Dasuki and prosecution leaders of the Peoples Democratic Party over alleged diversion of $2.1billion meant to purchase arms to fight against Boko Haram, now turn around to devise same criminal method to fund their reelection campaign?

“Little wonder that the APC recently mocked the PDP and its presidential candidate, Alhaji Atiku Abubakar by alleging that they lack funds to prosecute the 2019 campaigns simply because they are not in a position to deep their hands into the national coffers like they have perfected plans to do.

“He called on Nigerians to wake up and resist this looting spree and financial heist about to be visited on citizens who have rendered abjectly poor and dehumanized by the clueless leadership provided by Buhari and the APC since 2015.

“I must say that this illegality and looting arrangement by the presidency is a direct peep into what their #Next Level Nigeria Campaign would bring the way of Nigerians should they again be voted into office in 2019,” said the ex-APC chieftain.