…. Party Vows Accountability To Nigerians, Declares: ‘We Are Better Prepared To Lead

… Alleges 203 suspicious transactions, vows to prosecute alleged financial crimes ahead of 2027 elections

By: Goodluck E.Adubazi, Abuja.

The Social Democratic Party (SDP) has uncovered over N740 million in two bank accounts operated by the party, contrary to the N32 million earlier declared by its former National Chairman, Shehu Musa Gabam, the party has alleged.

The party also said its investigations uncovered 203 transactions within the accounts, with several of the transactions allegedly linked to personal accounts and businesses associated with some former party officials.

National Chairman of the SDP, Prof. Sadiq Umar, disclosed this on Wednesday in Abuja while briefing journalists on the leadership crisis within the party, its financial investigations and preparations for the 2027 general elections.

According to Umar, the party’s investigative panel initially discovered that while only N32 million had been declared as funds in the accounts under review, investigations into accounts domiciled with Zenith Bank and First Bank revealed transactions involving about N740 million.

He said the party obtained the bank statements after the Independent National Electoral Commission (INEC) confirmed the current leadership and authorised signatories of the party.

Umar alleged that out of the 203 transactions discovered in one of the accounts, about 85 were made in the name of a former national youth leader, while a substantial portion of the total transactions allegedly involved personal accounts, companies and relations of some former officials.

He said the party had petitioned the Nigeria Police and other relevant authorities over alleged criminal conspiracy, fraud, theft and misappropriation of about N620 million.

The SDP chairman said some former officials, including the expelled former national chairman, were already facing criminal prosecution over alleged breaches of the party’s constitution, the Electoral Act and other relevant laws.

He said the party would not abandon the prosecution, insisting that the SDP must demonstrate the transparency and accountability it intends to bring to governance if elected in 2027.

Umar said: “We in the SDP believe that if we are set to be in government and take over, we have to be fair to ourselves and to Nigerians. We have to be accountable to Nigerians and accountable to God Almighty.”

He added that the party was determined to ensure that those allegedly involved in financial wrongdoing faced the consequences of their actions.

The SDP chairman also declared that the party was better prepared than ever to contest the 2027 general elections, noting that it had completed several critical internal processes, including its national convention and primaries across the 36 states of the federation.

He said the party had already uploaded its candidates for the National Assembly elections and its presidential candidate and running mate, while the process of uploading other candidates, including those for the state assemblies, was ongoing.

According to him, the SDP has about 1,015 state assembly constituencies to fill, in addition to candidates for the Senate, House of Representatives and governorship elections.

Umar said the party had also conducted two National Executive Committee meetings and a national convention within four months, describing the development as evidence of its commitment to internal democracy and organisational stability.

He maintained that the current leadership of the party was duly recognised by INEC and that the party’s internal processes had been upheld through various legal proceedings.

The SDP chairman further said the party had engaged INEC on several electoral reforms and had written more than 200 letters on issues relating to the electoral process.

He said the party’s interventions had contributed to changes that benefited political parties across the country.

Umar also disclosed that the SDP had benefited from a capacity-building programme supported by the European Union and the Kuka Foundation, with more than 200 party members from various levels participating in a “training of trainers” programme aimed at strengthening political party administration.

He said the initiative would enable participants to train other party members and improve the efficiency and effectiveness of political parties in Nigeria.

On the party’s leadership dispute, Umar insisted that the SDP had followed due process and that its internal affairs were governed by its constitution and relevant provisions of the Electoral Act.

He said the party was focused on strengthening its internal structures and presenting Nigerians with credible candidates ahead of the 2027 elections.

The SDP National Chairman said the party was determined to provide an alternative government based on transparency, accountability, competence and good governance.

He added that the party would continue to pursue all legal and institutional avenues to recover its funds and ensure that anyone found culpable of financial wrongdoing was brought to justice.

Meanwhile, Umar confirmed that the Federal High Court had ordered INEC to restore the SDP governorship candidate in Osun State, further describing the development as another victory for the party in its ongoing legal battles.