BREAKING: ADC Asks Tinubu To Explain Missing $12.4bn Yesterday Oct 17 As EU Says Nigeria May Have World's Largest Poor Population, Commits €45m Aid
Fresh wahala don burst yesterday Saturday October 17, 2026 for Aso Rock.
The African Democratic Congress ADC has challenged President Bola Ahmed Tinubu to explain a $12.4 billion gap in Nigeria's external accounts.
ThisDayLive confirmed the story was Published: 2026-10-17T14:08:27+00:00 – yesterday Saturday Oct 17.
According to the report, the gap is $12.4 billion (about N16.5 trillion), identified in the World Bank's October 2026 Nigeria Development Update.
In a statement on Saturday, signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, ADC said the amount was too substantial to be dismissed as routine accounting discrepancy.
The World Bank report showed that Nigeria recorded a $12 billion current-account surplus and $6.2 billion in net financial inflows in the first half of 2026. However, the report also identified a $12.4 billion gap in the country's external accounts.
"The scale is staggering," ADC said, adding that the unexplained gap exceeded the entire current-account surplus recorded during the period.
ADC said the gap is about 5-6 times the $2.2 billion Nigeria attracted in foreign direct investment and equivalent to nearly a quarter of the N68.32 trillion 2026 federal budget.
"President Tinubu welcomed this report. He cannot celebrate one part of the report and stay silent on a gap bigger than the surplus that he and his government are celebrating," the statement said.
EU SAYS NIGERIA POVERTY MAY BE WORLD'S LARGEST, COMMITS €45M AID
At the same time this weekend, the European Union EU has said Nigeria's poor population may be the world's largest.
OneClickAfrica reported that EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, spoke in Abuja at the weekend at the 2026 International Day for the Eradication of Poverty – which is marked every October 17.
The envoy said: "Today, Nigeria is probably the country in the world with the highest number of people living under the poverty threshold," he said.
Mignot also disclosed that the European Union had committed nearly €45million in humanitarian assistance to Nigeria in 2026, particularly to support conflict-affected and crisis-prone areas.
He described poverty as a major concern for Nigeria's international partners, stressing that it required urgent attention.
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SOURCES:
ThisDayLive – ADC Asks Tinubu to Explain $12.4bn Gap – Published: 2026-10-17T14:08:27
OneClickAfrica – EU: Nigeria's Poor Population May Be World's Largest, Commits €45m Aid – Spoke at weekend Oct 17
World Bank
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