A “financial audit firm, OOM Professional Services,” has flagged “discrepancies totalling about N101.17bn” in “revenue remittances by the Nigeria Customs Service,” prompting the Federation Account Allocation Committee to demand a “full recovery and redistribution of the funds” to the “appropriate beneficiaries.”

According to a “FAAC Post Mortem Sub-Committee document obtained on Monday by our correspondent” from a FAAC official, the “misclassification of funds and delayed remittances by commercial banks” significantly “distorted the statutory revenue sharing formula” and “short-changed sub-national governments.”

The firm, which began operations in “2008 as Lanre Ogunwale & Co” before rebranding, was “engaged by the Forum of Commissioners of Finance” to “conduct a detailed review of Customs remittances” into the “Federation Account” for the “2022–2023 fiscal period.”

The engagement culminated in a “report” presented at the “FAAC plenary session of 16th May, 2025,” where the “Chairman of the Forum informed members of the anomalies uncovered by the consultant.”

Following deliberations, the Federal Ministry of Finance directed the “FAAC Post Mortem Sub-Committee” to “verify and report with recommendations.”

A follow-up “stakeholders’ meeting” was held on “July 10, 2025,” at “Brick Wall Hotel, Asokoro, Abuja,” attended by representatives of the “Nigeria Customs Service,” the “Federal Inland Revenue Service,” the “Office of the Accountant-General of the Federation,” the “Central Bank of Nigeria,” and the “FAAC Secretariat.”

The “consultant re-presented its findings,” which were “unanimously agreed upon by the relevant agencies.” “The FIRS and NCS representatives were in agreement with the position of the consultant. It was established that the findings of the consultant contained in the report were accurate,” the document noted.

One of the “most critical errors identified in the report” was the “wrongful classification of N82,04bn (N82,037,823,474.76) as Import Duty” instead of “Import VAT.” The funds were posted into the “Federation Account” instead of the “VAT Pool Account” by four commercial banks – Guaranty Trust Bank, Globus Bank, Taj Bank, and Nova Merchant Bank.

“The sum of N82,037,823,474.76 being Import VAT was wrongly posted into the Federation Account as Import Duty instead of the VAT Pool Account by four commercial banks, namely Guaranty Trust Bank, Globus Bank, Nova Merchant Bank, and Taj Bank,” the document stated.

Unlike VAT, which is “shared under a separate formula” that “prioritises state and local governments,” “Import Duty is shared vertically,” disproportionately “favouring the Federal Government.” The consequence, according to the committee, was a “significant reduction in the share due to sub-national governments.”

“The remittance of Import VAT into the Federation Account as Import Levy has significantly reduced the share of the sub-nationals due to the application of the vertical revenue sharing formula rather than the VAT Sharing formula,” the document noted.

In addition to the VAT misclassification, the report revealed that another “N19.13bn (N19,130,495,656.89)” was “erroneously remitted to the Consolidated Revenue Fund of the Federal Government,” instead of the “Federation Account.” Of the “N22.05bn (N22,047,725,350.91)” originally thought to belong to the CRF, only “N2.92bn” was actually due there.

“The NCS has confirmed that the sum of N19,130,495,656.89 was Federation Account revenue comprising Import Duty, Fees, Excise, and CET. While only N2,917,229,704.49, comprising CISS, ETLS, Iron Levy, Port Levy, and Wheat Grain Levy, was CRF revenue,” the document disclosed.

With the “two misclassified sums combined,” the “total amount of funds wrongly posted” stood at “N101.17bn (N101,168,319,131.64).” “The amounts posted in error were N82,037,823,474.76 as Import Duty and N19,130,495,656.89 to CRF, which totalled N101,168,319,131.64,” the committee noted.

The sub-committee further observed that these errors affected not only “revenue sharing among government tiers” but also the “statutory cost of collection” paid to agencies such as the FIRS, NCS, and the North-East Development Commission.

“The Cost of Collection and grant to FIRS/Nigeria Customs Service and North-East Development Commission be recomputed,” the committee recommended.

Beyond “classification discrepancies,” the sub-committee highlighted “delays by commercial banks in remitting funds” collected on behalf of the “Nigeria Customs Service.” These delays, which in some instances “extended into months,” violated “financial regulations” and “contributed to cash flow uncertainty at the sub-national level.”

“Revenues collected by NCS through Commercial Banks were delayed for weeks and in some instances months before being remitted into the Federation Account, which is in breach of lawful provisions,” the committee stated.

In response to the findings, the sub-committee made “sweeping recommendations,” starting with the “immediate recovery and redistribution of the N82.03bn” misclassified as “Import Duty.”

“That the sharing of the sum of N82,037,823,474.76 Import VAT, which was erroneously classified as Import Duty and wrongly remitted to the Federation Account, be recovered and re-computed using the VAT sharing formula for possible net-off,” the document recommended.

It also called for the “recovery of the N19.13bn wrongly paid” into the “Consolidated Revenue Fund” and its “subsequent distribution to eligible beneficiaries” using the “vertical sharing formula.”

“The N19,130,495,656.89 erroneously remitted to the Consolidated Revenue Fund of the FGN should be recovered from Federation Account inflows and distributed to the beneficiaries using the vertical formula,” the report added.

The committee tasked the “Office of the Accountant-General of the Federation” with the responsibility of “recalculating and disbursing the corrected revenue allocations” to the “appropriate beneficiaries.”

“The OAGF should work out the appropriate percentages due to the beneficiaries,” the committee directed. The report also stressed the need for “fairness and accountability,” particularly as the “affected funds were shared using a formula” that “penalised sub-national governments.”

“This is to ensure fairness to the Sub-Nationals who were underpaid using the Federation Account sharing formula rather than the VAT Sharing formula,” it noted. The committee concluded by recommending the “payment of the consultant’s fees,” acknowledging the “critical role played in exposing the remittance discrepancies.”

The document ended with a “strong appeal to the Accountant-General to act swiftly.” The PUNCH further learnt that the Nigeria Customs Service remitted a total inflow of “N359.42bn” to the “Federation Account in May 2025,” representing “16.56 per cent” of the “total revenue generated by all revenue-collecting agencies for the month.”

The total contributions by “revenue-generating agencies” for the month stood at “N2.17tn,” with the Federal Inland Revenue Service leading with “N1.14tn,” or “52.73 per cent,” followed by the “Nigerian Upstream Petroleum Regulatory Commission/Ministry of Petroleum Resources (NUPRC/MPR),” which contributed “N615.13bn” or “28.33 percent.”

When contacted, the “spokesperson of the NCS, Abdullahi Maiwada,” said he was “not aware of the matter” and “declined to comment on it.

The West African Examinations Council (WAEC) has “debunked a viral report circulating on social media” listing schools purportedly “affected by the withholding of the 2025 West African Senior School Certificate Examination (WASSCE) results.”

In a statement issued on “August 5, 2025,” the “examination body described the list as false and misleading,” urging the public to “disregard it entirely.”

“There is no iota of truth in the report,” the Council stated.

However, WAEC confirmed that some schools are “indeed under investigation for alleged examination malpractice.” The Council disclosed that “affected institutions have been formally notified” and “directed to report to the WAEC Lagos Zonal Office” within “10 working days from the date of the notice.”

The notice, signed by Dr. Florence Omobonike Ajayi, “Director of Examination Malpractice and Irregularities,” further “directed principals of the concerned schools” to “appear before WAEC’s Investigative Panel” on or before “August 16, 2025.” They are expected to “bring along relevant documents” and, where applicable, “copies of the affected candidates’ examination scripts.”

While the Council “refrained from officially naming the schools under investigation in its public debunking,” the “fake viral list” had included prominent institutions such as:

* Babington Macaulay Junior Seminary, Ikorodu
* Grange School, Ikeja
* Queen’s College, Yaba
* King’s College, Lagos Island
* Corona Secondary Schools (Agbara and Victoria Island)
* Loyola Jesuit College, Abuja
* Dowen College, Lekki
* Day Waterman College, Abeokuta
* University of Lagos International School
* Nigerian Navy Secondary Schools (Calabar, Abeokuta, and Ojo)
* Sacred Heart College (Apapa and Abeokuta)
* The Bells Secondary School, Ota
* Wesley Girls Secondary School, Yaba
* Federal Government Colleges in Enugu, Calabar, and Ijanikin
* St. Gregory’s College, Obalende
* Vivian Fowler Memorial College, Ikeja

WAEC emphasized that the “process of result withholding is part of its regulatory framework” to “uphold the integrity of its examinations,” in line with its “zero-tolerance policy on examination malpractice.”

The Council assured that “withheld results will remain so until ongoing investigations are concluded” and urged “stakeholders to cooperate fully.”

“Only through due process can the credibility of our examination system be preserved,” WAEC said.

For “accurate information,” WAEC advised the public to “rely solely on its official communication channels.”

Stakeholders within the Peoples Democratic Party” are pushing for a “consensus approach” in selecting a new party chairman, with “former Minister of Information, Professor Jerry Gana, former party chairman, Kawu Baraje and “ex-Kaduna State Governor Ahmed Makarfi” reportedly among those eyeing the position ahead of the party’s “National Convention” scheduled for “November 15.”

Reliable party sources, who spoke on “condition of anonymity,” told “The PUNCH” that the “acting National Chairman, Umar Damagum,” was also working to “secure the role in a substantive capacity.”

At the same time, “members of the party’s National Executive Committee” called for “credible and competent individuals with proven track records” to enter the race, though opinion remains divided on the “idea of a consensus candidate.”

Meanwhile, the “Minister of the Federal Capital Territory, Nyesom Wike,” warned that the PDP’s handling of leadership positions in the “South-South and South-East regions” could “jeopardise the success of the upcoming convention in Ibadan, Oyo State.”

Reacting to the developments, Bala Ibrahim, “Director of Publicity for the ruling All Progressives Congress,” said the “internal conflicts and personalities in the PDP” could signal the “party’s collapse at the November convention.”

The PDP recently emerged from a “prolonged internal crisis” that had spanned several months. During the turmoil, a number of “key party members defected to the APC” and the “newly established African Democratic Congress coalition.”

In a bid to “restructure and reposition,” the **PDP** decided at its “101st NEC meeting on July 24” to “convene a National Elective Convention” to “elect 19 new members” into its “National Working Committee.”

As outlined in the party’s “2027 amended Constitution, Part X, Section 33 (2 – 5J)” the functions to include, “The National Convention shall be the supreme and controlling authority of the party within the limits prescribed in this Constitution and it shall be the principal representative, policy making and administering body of the party.

“Except in the exercise of the functions granted only to other bodies as specified in this Constitution or in the regulations made pursuant to the provisions of this Constitution, the National Convention shall have supremacy in all matters pertaining to the party and all officers and organs of the party shall be bound in the exercise of their functions by the decisions of the National Convention.

“The policies of the party derived from the resolutions of the National Convention shall be amended or revoked only by a subsequent resolution of the National Convention. The National Convention shall have and exercise authority to formulate policies and programmes for the party and elect or remove the National Officers of the party.

It added, “ (It shall) demand and receive reports from the National Executive Committee and from any other committees or organs of the party and take appropriate action on such reports, appoint such Committees, as it may deem necessary, desirable or expedient and assign to them such powers and functions as it may deem fit, examine the actions taken or legislation proposed by any government under the party’s control whether Federal, State or Local Government Council and ensure that they are in conformity with the policies and programmes of the party and at all elections, secure the return of as many party candidates as possible in a manner consistent with the laws of the land;

“(It shall) consider reports from the states and local government branches of the party and take such decisions and actions as may be necessary to protect, advance and consolidate the gains and interest of the Party, raise adequate funds for the management and sustenance of the party and exercise control and take disciplinary action against all officers and members of the party.”

The “Constitution empowers the National Convention” to “amend the party’s Constitution” and “prohibits it from delegating that power.”

While the forthcoming convention can perform “all key functions listed” (except “electing a Presidential candidate”), The PUNCH reports that the “main focus of the November convention” is to “elect a new National Working Committee” to lead the party for the “next four years.”

Additionally, “Part VIII, Section 29 (1A to M),” under the heading ‘Establishment and Composition’ provides that, “There shall be a National Working Committee of (1) the party, which shall consist of the National Chairman, two Deputy National Chairmen, the National Secretary, the Deputy National Secretary, the National Treasurer, the National Financial Secretary, the National Organising Secretary, the National Publicity Secretary, the National Auditor, the National Legal Adviser, the National Woman Leader, the National Youth Leader; and the National Vice Chairmen.”

A reliable source told our correspondent that “all stakeholders have agreed to hold the convention in November” and are “pushing for a consensus arrangement.”

He stated, “What I can tell you is that we have put machinery in place to ensure the convention holds as planned. After all, the tenure of the current NWC members will expire by December, so there must be an elective convention.

“The zoning of offices will be made known at the next NEC meeting later this month. Some party leaders are advocating for a consensus arrangement for all NWC positions.

“The party is just coming out of a prolonged crisis and cannot afford to enter another, especially with the 2027 elections around the corner. Some of our leaders—senators, governors, former governors, and others have expressed concerns that regardless of the zoning formula, consensus should be adopted at both zonal and national levels to preserve the unity of the party.

“I am sure a decision will be taken on all these soon. Although aspirants are already making moves, Damagum is also reportedly plotting to retain the position as substantive National Chairman. Ultimately, the party leaders and delegates will decide.”

However, another source stated that “only a consensus arrangement can prevent the party from slipping into another post-convention crisis.”

He stated, “We’re just emerging from a crisis, so it’s crucial to ensure the upcoming convention is peaceful. A consensus arrangement is the best way to achieve that.

“The party has, on several occasions in the past, adopted consensus approaches. Many of us are currently advocating for the same, especially as several individuals are eyeing key positions.

“As things stand — unless zoning disqualifies them or they change their minds Gana, Baraje and Makarfi are interested in leading the party, while Damagum is working to retain his position as substantive National Chairman.

“Therefore, both zoning and consensus will be essential in managing the process and its outcome effectively.”

“Attempts by The PUNCH to get responses from Damagum, Makarfi, Baraje and Gana were unsuccessful.”

“Damagum’s phone was switched off, Baraje’s number was not reachable, Gana’s call was answered by his aide, who explained that he was in a meeting while Makarfi did not respond to messages sent by our correspondent.”

Meanwhile, NEC members, including “Deputy National Youth Leader Timothy Osadolor,” “former Deputy Publicity Secretary Diran Odeyemi,” and “former National Vice Chairman Eddy Olafeso,” encouraged “capable and eligible party leaders” to “vie for positions of interest.”

Osadolor stated that “every party member had the right to contest,” adding that adopting a “consensus approach could be detrimental to the party.”

He stated, “The truth is this, the concern was clearly stated in the country’s constitution, that we have the right to vote and be voted for. There’s no law in the country that says that if you serve one term, you cannot go for a second term.

“And as a matter of fact, conventionally speaking, incumbent people tend to get the right of first refusal before other people. So, regardless of how people feel, how these NWC members feel, they still have individual rights to assert themselves and to convince themselves.

“So, it’s up to the delegates to tell them, ‘you have done well’ or ‘you have not done well.’ Like now, nobody is going to tell the President not to contest, but Nigerians are willing to tell him that he should go home when it comes to the poll. So, if the delegates of the party feel a certain way about any member, including myself, I don’t think you can fight such a process. I believe that democracy should be allowed to flow so that you don’t end the aspirations (of others). And that is why we are going to oppose anyone who tries to truncate this process.”

On consensus, he stated, “Consensus is a dangerous democratic right. Do you want to stifle in the name of consensus? That is even more dangerous. Let anybody who believes he or she is qualified market their manifesto to the delegates, and let delegates at the convention determine who represents the vacancy.

“Therefore, anybody who wants to contest now, to avoid crisis, should also start campaigning. Everybody is from a state, everybody is from a local government, from a ward. So, let there be sensitisation, so that credible people who will not be swayed by pecuniary gains — let such people emerge and be thrown up as delegates. At the end of the day, when they are voting, they will vote along the mood of the party and the country, so that we don’t end up where we are coming from.”

On his part, Odeyemi urged caution and described consensus as the “most effective arrangement to safeguard the party.”

He stated, “It is too early to throw support behind anyone now, because the party has been in crisis for quite some time. This, obviously, must have raised the stakes and the quality of leadership that it requires to bring the party back on track.

“We are still looking forward to seeing how many of them will come out. I would rather prefer we wait and see all of them before comparing notes and assessing them based on their previous achievements and contributions to the party before we can say anything.

“The Constitution of the party does not ban anybody from contesting. It’s a free-for-all contest. This means it will not preclude former chairmen or people who have previously held the position. But when the time comes, part of what will be assessed should be how successful they were when they were in office. This will be considered at the final stage when all aspirants have come out.

“The party Constitution allows for consensus. I would prefer the consensus opinion of the leadership, especially on zoning and on the personalities they want to occupy the position. This should be based on qualification, determination, previous achievements, commitment to the party, and other necessary qualities.If they are able to achieve that, we can then beat our chest and say, yes, our party is back.”

Also, Olafeso stated that “qualified party members were free to contest any position,” noting that their “competence would be scrutinized by party leaders and delegates.”

The “former PDP Vice Chairman” stated, “The beauty of democracy is that you’re given the chance to compete. But in that competition, people will take into consideration your performance in the past. Your pedigree and your competence will all be in consideration. So nobody should be excused or excluded from participating. Like we said, we want to actually strengthen our internal democracy and ensure that it’s an all-inclusive party activity. They are all welcome.

“But I can tell you that we’re doing everything possible to learn from the past and our mistakes and make the future a lot better for us, so that we can prepare the party, stabilize it for a future competition against the APC and the ruling party that have turned Nigeria into a graveyard of misery and pain for the Nigerian people.”

Olafeso added that adopting a “consensus approach would promote stability within the party,” adding that “they have learned from their previous mistakes.”

He stated, “Knowing that we are in the opposition, knowing fully well that we are in the orthodox, it is very critical that we have internal communication amongst ourselves, arriving and ensuring that issues are resolved long before the convention. So, consensus is the way to go.

“And in the event that we are unable to reach that, that is when we throw everything out there to say, ‘okay, let the people decide.’ But I know that we must give consensus a try. It will save cost. It will save all the anxiety and the conflict in the party, and it will make us understand each other better, because consensus is give and take.

“The errors of the past are still haunting us. So, our commitment is to do the right thing in accordance with the constitution of the party and the Constitution of the Federal Republic of Nigeria.

“You can be rest assured that we are learning from our mistakes, and we’re doing everything possible to ensure that we come out of this very clean that all those who left can now return. Fairness and equity will be the watchwords today in this circumstance, and we’ll strive to keep doing that.”

In a related development, the “Minister of the Federal Capital Territory, Nyesom Wike,” has warned that a “fresh crisis capable of disrupting the convention” could emerge if the “NWC continues to reject the newly elected executives from the South-South congress” held in “Calabar, Cross River State.”

Speaking during a “media chat on Monday in Abuja,” the minister stated that the party “acted appropriately by reaffirming Senator Samuel Anyanwu as the substantive National Secretary.”

He noted that he had “consistently maintained” that the party “must do the right thing by reinstating a secretary who was duly elected through a convention.”

“I never insisted that Senator Anyanwu would be National Secretary. I insisted that the right thing must be done. If the right thing to be done is that Senator Anyanwu should be reaffirmed as National Secretary, so be it, that is what I insisted. If the law takes place, so be it. And the law has taken place,” Wike said.

The “leadership crisis” in the “South-South and South-East zones” of the party has “persisted for some time” and the “former Governor of Rivers State” cautioned that although the party’s crisis “appears to be resolved for now,” a “new wave of conflict could arise” if the party “refused to acknowledge the zonal congress that elected Chief Dan Orbih as the National Vice Chairman for the South-South.”

He said, “Well, it is over for now. There are few things still remaining and I have told them that they must do it. Our congress was held in Calabar, and there’s nothing anybody can tell us. If they want to have another round of crisis, so be it. In that congress, Chief Dan Orbih emerged as National Vice Chairman from the congress. They never wanted the congress to hold. Congress was held.

“The so-called acting National Chairman of the party wrote a letter to INEC after congress was held on Saturday, that the congress has been postponed.

“There is no two ways about it. The National Vice Chairman of PDP South-South, is Chief Dan Orbih. If they don’t agree, that’s another round of crisis.”

Wike also maintained that the party must address the issue of the “South-East Zonal Chairman, Ali Odefa,” who was “expelled from the party following a court order from a competent jurisdiction.”

He added, “The South-East vice chairman, Ali Odefa is no longer a member of the party. These are the things I tell people, what I don’t like is impunity. And for someone like me, we will not condone it. I will not allow it. We will fight it except they correct it.”

Wike further warned that the “upcoming national convention could descend into crisis” if the “existing irregularities within the PDP were not addressed.”

Wike stated, “They said that they are going for their convention in November. I am not part of it until they have corrected it. Let us wait; there is still time for them to resolve it. Before you talk about convention, resolve the matter. If the matter is not resolved, there will be crisis.”

When contacted, the “PDP National Organising Secretary, Umar Bature,” confirmed that “arrangements had been made for the convention to proceed as scheduled.”

In the “timetable he shared with our correspondent,” the “sale of Nomination and Expression of Interest forms for national offices” is set to commence on “Wednesday, September 3,” at the “Directorate of Finance, National Secretariat, FCT, Abuja.”

The timetable, signed by Bature, states that “Monday, September 22” is the “deadline for the submission of completed Nomination and Expression of Interest forms.”

On “September 26,” the “Directorate of Organisation/Mobilisation” will begin “processing the forms and forwarding them to the Screening Committee,” with the “screening of all aspirants for national offices” scheduled to take place on “Tuesday, September 30” at the “National Secretariat.”

Reacting, the “APC Director of Publicity, Bala Ibrahim,” stated that the “PDP’s November convention would yield no meaningful outcome.”

Ibrahim, in an “exclusive interview with The PUNCH,” stated, “You see, I had forgotten about the name PDP until you reminded me now. But the question is, ‘which of the PDPs?’ There are more than one PDP, and all of them, to the best of my knowledge, are in the Intensive Care Unit of the hospital. I don’t know how a party that is hospitalised, a party that is in the ICU can even contemplate conducting a national convention. It is a dream that is not likely to come to pass. It is a dream that is not likely to see the light of day.

“You see, the PDP should think of putting what it needs to put together to get its soul in one place. As things stand now, it is a fractured party that is moving from one fracas to another and the likelihood of having a peaceful and fruitful convention is not looking good. We pray they succeed in having a convention, but I doubt if the convention will be able to produce a leadership that will be acceptable to all the talk shops. The convention is going to be the end of PDP.”

Credit: The Punch