Ireti Kingibe, senator representing the Federal Capital Territory (FCT), has accused Nyesom Wike, FCT minister, of securing loans for the nation’s capital without the approval of the National Assembly, raising fresh questions over legislative oversight of borrowing for the territory.
Kingibe said she reviewed Debt Management Office (DMO) records covering borrowings between August 2023 and March 2026 and found what she described as evidence that the FCT administration had taken loans without first seeking approval from the Senate.
The senator made the allegation during an appearance on Channels Television’s Political Paradigm, saying she had already raised the issue with the Senate leadership.
“I am definitely saying he has been taking loans without the approval of the National Assembly. I don’t know about the House, but certainly not the Senate,” Kingibe said.
She challenged Wike or anyone disputing the allegation to produce the official records of National Assembly proceedings showing when the minister appeared before lawmakers to seek approval for the borrowings.
“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 for anything,” she said.
Kingibe said the FCT’s annual budgets are normally presented to the Senate through the relevant committee for scrutiny before they are approved by the upper chamber.
She argued that borrowing for the FCT should similarly be subject to legislative oversight, particularly where such borrowing creates financial obligations for government.
According to the senator, she became aware of the alleged loans after examining information contained in DMO records covering the period from August 2023 to March 2026.
“I have never seen Wike come to the National Assembly and before the Senate to ask for approval of anything,” she said.
Kingibe further questioned the legal basis for the minister’s alleged borrowing powers, arguing that Wike derives his authority from President Bola Tinubu and cannot exercise powers greater than those of the president.
She pointed out that Tinubu submits requests for loans and appointments to the National Assembly for approval, saying the same principle should guide financial commitments undertaken by the FCT administration.
The allegation comes amid heightened attention to government borrowing and the constitutional requirement for legislative scrutiny of public debt.
Kingibe’s remarks also reflect the continuing friction between her office and the FCT administration over the management, financing and development of the capital.
Wike has yet to respond publicly to the allegation.
The senator said the matter could be resolved by examining the official Votes and Proceedings of the National Assembly to determine whether the minister ever sought approval for the loans.
Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives.
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