Peter Obi Challenged to Disclose Campaign Funds Usage by Party Member

0

Faduri Joseph, a prominent figure in the Labour Party, has voiced concerns over the management of campaign funds during the 2023 Presidential Elections, urging the party’s Presidential candidate, Peter Obi, to offer a transparent account of the finances.

In an open letter conveyed through his media Director, Rev. Emmanuel Olorunmagba, Joseph emphasized the importance of accountability in the aftermath of the elections. He stressed the need for disclosing details regarding the financial support received domestically and from Nigerians in the diaspora.

Joseph stated, “Given the substantial financial support received from Nigerians both at home and abroad during the 2023 elections, it is expected that the Labour Party and its presidential candidate, Peter Obi, would provide a comprehensive report on the funds. This should include the amount received, expenditure details, and any remaining funds for future planning.”

He highlighted the significance of introspection to identify shortcomings and rectify them for future elections. Joseph emphasized the need for the party to address any weaknesses to avoid repeating mistakes and achieving better results in future electoral processes.

Joseph also emphasized the need for transparency, particularly in light of the party’s anti-corruption stance. He urged Obi to demonstrate the party’s commitment to accountability by openly sharing the details of the financial contributions received from well-meaning Nigerians, both locally and internationally.

Politics Nigeria

Leave a Reply

Your email address will not be published. Required fields are marked *

You may have missed

BF Borgers, an accounting firm owned by former US President Donald Trump, has been accused by the Securities and Exchange Commission (SEC) of engaging in widespread fraud and operating a “sham audit mill.” The SEC alleges that BF Borgers committed “deliberate and systemic failures,” including the fabrication of audit papers and false assurances to clients regarding compliance with accounting standards.

This fraudulent activity, described as “massive,” occurred between January 2021 and June 2023, impacting over 1,500 SEC filings and more than 500 public companies. As a consequence, the SEC has permanently barred BF Borgers from practicing as accountants before the agency and imposed a severe penalty, including a collective fine of $14 million against the firm and its owner, Benjamin Borgers.

In a statement, Gurbir Grewal, director of the SEC’s enforcement division, declared that Borgers and his “sham audit mill” have been permanently shut down. The SEC has notified public companies that engaged BF Borgers to seek new accounting firms.

Trump Media & Technology Group, chaired and majority-owned by Donald Trump, was among BF Borgers’ clients. While Trump Media may be the most high-profile client, BF Borgers served around 350 clients subject to SEC rules during the mentioned period. However, the SEC review only examined BF Borgers’ work for public companies, excluding its services to Trump Media when it was private.

Trump Media, despite its significant valuation on Wall Street exceeding $9 billion, generates limited revenue. Its social media platform, Truth Social, faces challenges, with a notable decline in average daily active US users on iOS and Android in April. Despite this, Donald Trump remains a prominent user on Truth Social.

In response to the SEC’s actions, a spokesperson for Trump Media expressed readiness to collaborate with new auditing partners in compliance with the SEC’s order. BF Borgers did not provide a comment on the allegations.

In summary, BF Borgers, owned by Donald Trump, faces severe consequences following accusations of fraud by the SEC. The firm’s practices, characterized as a “sham audit mill,” have led to permanent suspension and hefty fines. Trump Media, among BF Borgers’ clients, is navigating challenges despite its substantial valuation, particularly with its Truth Social platform experiencing a decline in user engagement.

Social media & sharing icons powered by UltimatelySocial