President has removed the Minister of Finance and Coordinating Minister of the Economy, , in a dramatic cabinet reshuffle that has sent shockwaves through the Federal Executive Council.
The decision, announced in a memo dated April 20, 2026, by the Secretary to the Government of the Federation, cited the need to “strengthen cohesion” in governance. However, the development has intensified public scrutiny over an alleged ₦1.15 trillion in approved capital funds reportedly unaccounted for.
The controversy first came to light during a February 25, 2026 budget defence session at the National Assembly, when , representing Aba North/Aba South Federal Constituency, raised concerns over the non-disbursement of capital funds.
Speaking at the session, the lawmaker—who serves on the House Committee on Aids, Loans and Debt Management—alleged that despite substantial revenues generated by agencies such as the and the , alongside significant external borrowings, no capital project across the country had received funding in 2026.
He questioned why “the capital of the Nigerian government remains at zero,” a remark that reportedly drew silence in the chamber.
During the session, Mr. Edun was said to have referred questions to the then Minister of State for Finance, . She was subsequently summoned and, at a follow-up appearance, confirmed that funds had been approved but cited “pre-disbursement conditions” as the reason for delays.
When pressed to identify any ministry that had met such conditions yet failed to receive funding, she was unable to provide a specific example.
One week after the hearing, on March 3, 2026, Uzoka-Anite was removed from office. In the latest development, her successor, , who had been serving as Minister of State for Finance, has now been elevated to the substantive role following Edun’s dismissal.
Although official statements have not directly linked the sackings to the allegations raised at the National Assembly, the sequence of events has fueled speculation among observers and political analysts.
Meanwhile, Hon. Ikwechegh has also made political headlines in recent weeks, defecting from the (APGA) to the , where he was received by Abia State Governor .
Despite the high-profile removals, questions persist regarding the alleged missing funds. As of press time, there has been no official confirmation of recovered monies, nor has any formal investigation or prosecution been publicly announced.
The developments have left Nigerians seeking clarity on the status of the funds and the broader implications for fiscal accountability within the government.
