Atiku Abubakar Revives Tinubu's $460,000 Forfeiture Allegations

Former Vice President Atiku Abubakar has hit back at President Bola Tinubu's criticism of his investment in education, accusing the President of attempting to distract Nigerians from his administration's economic record. Atiku's response comes after Tinubu questioned how he established an educational institution while serving as Vice President. Atiku's Director of Strategic Communication, Phrank Shaibu, issued a statement on Saturday, defending Atiku's investment in education.

Atiku revived allegations surrounding Tinubu's forfeiture of $460,000 in the United States, which occurred around the time he began investing in education. A US court ordered the forfeiture of funds in an account linked to Tinubu in 1993, describing them as proceeds of narcotics trafficking or funds involved in unlawful financial transactions. Atiku argued that this development happened before he became Vice President and laid the foundation for ABTI Academy, which later became the American University of Nigeria (AUN).

Atiku defended his investment in education, stating that it predated his time in public office. He maintained that his business and educational investments were traceable and accused Tinubu of using political attacks to undermine his record. Atiku also criticised the Tinubu administration over the removal of petrol subsidy, rising living costs, mounting debt, insecurity, and unemployment.

The former Vice President accused the government of worsening poverty, claiming that more than 79 million Nigerians had been pushed into extreme poverty. Atiku questioned the administration's position that Nigeria would not return to subsidised petrol prices, arguing that the policy had increased economic pressure on citizens. He proposed a transparent, production-based fuel subsidy tied to local refining, which he believes would reduce energy costs for Nigerians.

Atiku's proposed policy would allow Nigerians to benefit from lower petrol and diesel prices. He said, "You say Nigeria will never return to subsidised petrol prices. You are wrong. By the grace of the Almighty and with the mandate of the Nigerian people, I will restore a transparent, production-based subsidy tied to the local refining of fuel." Atiku's Affordable Life campaign aims to provide an alternative to the economic policies of the Tinubu administration.

The African Democratic Congress (ADC) presidential candidate promised investments in social welfare and a more transparent system for distributing assistance to economically vulnerable Nigerians. Atiku accused President Tinubu of attacking his campaign because it represented an alternative to the administration's policies. He expressed confidence in his chances against Tinubu in the 2027 presidential election.

Atiku's campaign will focus on restoring economic growth, prosperity, and national development. He insisted that he would remain in the race for the 2027 presidential election. According to a report by Spice Radio Nigeria, Atiku's response was posted on November 8, 2026, by Rasheed Aladejana.

Key points

• Atiku Abubakar revives allegations surrounding Tinubu's $460,000 forfeiture in the US.
• Atiku defends his investment in education, citing it predates his public office.
• Atiku proposes a transparent, production-based fuel subsidy tied to local refining.