Tinubu Removes Finance Minister Over Missing N1.15tr

President Bola Tinubu announced the removal of Finance Minister Dori Uzoka Anit following an interrogation by House of Representatives member Alex Ikwechegh regarding the unutilized N1.15 trillion capital fund approved for various projects across Nigeria. During a budget defense session on February 25, 2024, Ikwechegh questioned why the capital projects remained at zero percent execution despite the approval and significant borrowing by the government.

Anit claimed that pre-disbursement conditions were not met, leading to the funds not being released. This prompted Ikwechegh to frame the issue in legal terms, suggesting potential misappropriation of funds.

Exactly one week later, on March 3, 2024, Tinubu reshuffled his cabinet, appointing Taiwo Oyedele, a 50-year-old economist and tax expert, as the new Minister of Finance. Oyedele, who has a 22-year tenure at PwC, awaits Senate confirmation.

The reshuffle has raised questions about the accountability of the government regarding the unutilized funds.