Reported by: Oahimire Omone Precious | Edited by: Oravbiere Osayomore Promise.
The Senator representing the Federal Capital Territory, Ireti Kingibe, has accused FCT Minister Nyesom Wike of obtaining loans for the nation's capital without the approval of the National Assembly, citing records from the Debt Management Office (DMO) that show a dramatic surge in the territory's domestic debt under his watch. Kingibe made the allegation on Tuesday, August 25, 2026, during an appearance on Channels Television's Political Paradigm, where she disclosed that she had already raised the matter with the leadership of the Senate. The senator's claims have thrown the spotlight on the FCT's financial management and the extent of the minister's borrowing authority.
Kingibe said the standard practice requires FCT budgets to be presented to the Senate through the relevant committee for consideration before they are passed by the upper legislative chamber. She alleged, however, that Wike had consistently bypassed this process. "I have never seen Wike come to the National Assembly and before the Senate to ask for approval of anything," Kingibe declared. She was emphatic in her assessment: "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".
The senator's accusations are backed by DMO records covering the period from August 2023, shortly after Wike assumed office, to March 2026. According to Kingibe, the records do not show any evidence that the FCT Minister had sought or obtained legislative approval before taking the loans. The figures reveal a staggering increase in the FCT's domestic debt, which stood at N88.51 billion in September 2023. By March 2026, the figure had skyrocketed to N389.88 billion, representing an increase of N301.37 billion, or 340.5 per cent, in about two and a half years. This sharp rise has moved the FCT from one of the least indebted sub-national governments to the second-highest domestic debtor in the country. The debt jumped most dramatically in the first quarter of 2026, climbing from N188.86 billion in December 2025 to N389.88 billion by March 2026.
Kingibe challenged anyone disputing her claim to provide official parliamentary records to prove otherwise. "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. The senator also questioned the constitutional basis for the loans, comparing Wike's conduct with that of President Bola Tinubu, from whom the minister derives his powers. She noted that President Tinubu routinely submits requests for loans and appointments to the National Assembly for consideration, and argued that the minister's powers could not be superior to those of the president who appointed him. The FCT Minister is yet to issue a public response to the allegations, which add to ongoing scrutiny of the FCT administration's handling of funds and its dealings with the legislature.
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