L-R: Finance Minister Wale Edun and Shamsedeen Babatunde Ogunjimi, the Accountant-General of the Federation,
Group Mounts Pressure on Finance Minister, Accountant-General to Resign Over Unpaid 2024 Contracts-Report
Group under the auspices of the Coalition for Equity and Accountability in Public Finance (CEAPF) has demanded the immediate resignation of Finance Minister Wale Edun and Shamsedeen Babatunde Ogunjimi, the Accountant-General of the Federation, accusing both of failing to pay contractors for projects duly captured in the 2024 budget and fully executed by local firms.
In a statement on Wednesday signed by its President, Comrade Segun Daramola, and Secretary-General, Comrade Isaac Idachaba, the coalition said it would formally approach the National Assembly and lobby lawmakers across party lines to pass a vote of no confidence on the two officials if they refuse to vacate their offices voluntarily.
“This is no longer a mere administrative delay; it is a calculated dereliction of duty. Contractors have completed projects backed by law, projects approved and funded under the 2024 Appropriation Act, yet they are left unpaid and forced into bankruptcy. Meanwhile, the Federal Government is executing and paying for projects not captured in either the 2024 or 2025 Appropriation Acts. This is unlawful, it is reckless, and it is unacceptable,” the statement reads.
The coalition said the contradictions point to a troubling pattern in the fiscal management of the country, where legal obligations are ignored while off-budget expenditures receive priority.
According to the group, this not only undermines transparency but also destroys confidence in the sanctity of the budget process.
“What we are witnessing is a distortion of governance itself. Appropriation is the foundation of democracy, the guarantee that public money is spent as authorised by the people through their representatives,” the group declared.
“If ministers and accountants can disregard this at will, then the National Assembly must rise up. It is the duty of lawmakers now to assert their authority by removing those who have so flagrantly undermined them.”
The coalition noted that contractors across the federation have complained of crippling debts, many of them having borrowed at exorbitant rates from commercial banks to deliver on government projects.
CEAPF said the neglect has created a chain reaction of economic distress, hitting small businesses, suppliers, and workers who depend on the contracting system for their livelihoods.
“Government contracts are supposed to stimulate the economy. Instead, under the stewardship of Mr. Wale Edun and the Accountant General, they have become instruments of ruin. Firms are collapsing, workers are being laid off, and banks are foreclosing on loans. This is economic sabotage by negligence,” the statement said.
The group argued that the crisis has become both a financial and moral issue, one that cannot be resolved by half-measures.
It insisted that resignation was the only honourable course left for the finance minister and the accountant general, stressing that anything less would amount to a “mockery of accountability”.
“Our democracy cannot survive on promises that are never kept. If a government can budget for projects, award them, certify them, and then refuse to pay while diverting resources to unbudgeted ventures, what message does it send to citizens and investors? It tells the world that Nigeria is lawless and that contracts mean nothing. That is why we must draw a line here.”
The coalition also called on President Bola Tinubu to intervene decisively, saying his own reputation as a reformer was being called into question by the finance ministry’s failings.
“The President has spoken of fiscal discipline and reform. This is the moment to prove that those words have meaning. If his team members cannot carry out the most basic function of governance — honouring the budget and paying for executed contracts — then they must step aside for those who can,” the group declared.
For many observers, the controversy over unpaid contracts has become more than an accounting dispute. It is now a test of whether Nigeria can uphold the rule of law in its fiscal affairs and whether its leaders can be trusted to respect the authority of parliament.
