APC Faces Financial Crisis as Court Orders Seizure of Accounts Over N8.9 Billion Debt, Says Ganduje

 The ruling All Progressives Congress (APC) is currently facing a serious financial and legal crisis as reports have emerged that the party’s bank accounts have been seized over an outstanding debt amounting to N8.9 billion. The revelation was made by the party’s National Chairman, Abdullahi Ganduje, who acknowledged the party’s ongoing struggles in settling its financial obligations.

The debt, which dates back several years, has now led to a court order mandating the seizure of the party’s accounts, making it difficult for the APC to carry out its day-to-day financial transactions, including funding party activities, maintaining administrative operations, and preparing for upcoming elections. Analysts suggest that this development could have a significant impact on the APC’s ability to strategize ahead of future elections, as financial strength plays a critical role in the electoral process.

Party insiders have expressed concerns that the situation could deepen internal divisions, as there have been growing tensions over financial mismanagement within the APC. Some members have called for transparency in how party funds have been utilized, especially as the debt burden continues to rise.

This financial turmoil comes at a time when the party is facing other political challenges, including growing opposition, intra-party conflicts, and governance concerns in states controlled by the APC. Many political analysts are watching closely to see how the party leadership will navigate this crisis, with some speculating that it could lead to a major restructuring within the party’s financial management system.

Ganduje, in his statement, assured party members and supporters that efforts were being made to resolve the issue, though he did not provide specifics on how the party plans to settle the debt. Meanwhile, legal experts have warned that the consequences of non-compliance with the court order could further complicate the party’s financial woes, potentially leading to more legal battles that could hinder its long-term stability.

As this situation unfolds, it remains to be seen whether the APC will be able to recover from this financial setback and what measures it will put in place to prevent a recurrence in the future.