The ongoing investigation by the Economic and Financial Crimes Commission (EFCC) into the Director-General of the Energy Commission of Nigeria, Mustapha Abdullahi, has reportedly triggered anxiety within the All Progressives Congress (APC) over alleged financial arrangements linked to the 2027 elections.
Although initial reports focused on alleged missing funds said to range between ₦500bn and ₦701bn, attention within political circles has reportedly shifted to concerns over campaign financing structures ahead of the next presidential election.
The controversy gained momentum after an online platform, The Will, alleged that over ₦800bn was pooled through structures associated with “Renewed Hope Ambassadors” and later “Renewed Hope Network,” groups reportedly linked to mobilisation for President Bola Tinubu’s expected re-election bid.
The report further alleged that governors elected on the platform of the APC made coordinated contributions from their Federation Account Allocation Committee revenues.
The allegations have now drawn attention to the Progressive Governors’ Forum, chaired by Imo State Governor, Hope Uzodimma.
EFCC Tracing Fund Movement
A source familiar with the investigation who spoke with Vanguard said the anti-graft agency was tracing financial transactions allegedly linked to the movement of hundreds of billions of naira through various accounts and entities.
“We are treating this as a serious money laundering case involving substantial movements of funds estimated around ₦500 to ₦701 billion. The Energy Commission DG was invited multiple times before we brought him in,” the source said.
“Our focus is tracing the flow of these resources, which appear linked to the pooled contributions from some states,” the source added.
The source further disclosed that investigators were trying to determine whether “public-derived funds were diverted or laundered.”
Sources within the ruling party said the investigation had generated tension among some governors and political actors as scrutiny intensified.
One source said concerns deepened after the matter moved beyond speculation and attracted forensic attention from the EFCC.
“The fear in some quarters was no longer merely about headlines. It was about exposure,” the source said.
According to the source, financial arrangements that were usually treated as internal party matters had suddenly become subjects of public controversy and possible forensic examination.
However, another source within the Progressive Governors’ Forum (PGF) defended the alleged arrangement, insisting that the contributions were voluntary.
“Look, the governors made voluntary contributions to support the Renewed Hope agenda ahead of 2027, this is normal political mobilisation, not a crime. The figure being quoted is exaggerated and taken out of context,” the source said.
The source also admitted that disagreements later emerged among governors over the management of the funds.