APC Is Broke

By Ikenga Chronicles April 9, 2017

The National Convention of the ruling All Progressives Congress (APC) slated for April 29 has been cancelled due to paucity of funds.

Recall that in the last APC stakeholders meeting that was organised to resolve the executive and legislature impasse, the National Chairman of the party, John Oyegun had also cited financial difficulties as one of the challenges confronting the party.

However, signs that the party might not go ahead with the convention as scheduled came when the constitution review committee headed by the National Legal Adviser, Muiz Banire, had to abandon its assignment.

It was gathered from a key leadership source at the weekend that the party could not fund the activities of the constitution review committee which had submitted its budget to Oyegun.

The party source disclosed that the party had decided to postpone the convention to another date to be decided at the National Executive Committee.

“Convention is not likely to hold on April 29. Only the NEC can say categorically that there will be no convention as scheduled, the NWC cannot decide unilaterally to postpone the convention. So there will be a NEC meeting to formally postpone the convention and this will be summoned before April 29

“Although the NWC has made up its mind to postpone the convention, it does not want to usurp the powers of the NEC to decide on the dates for the event, hence it plans to first convene NEC meeting which can now take final stance on the matter,” he said.

According to the source, the NWC will table before the NEC meeting issues bordering on inadequacy of funds to run the party as well as other matters needing urgent attention.

The source also disclosed that the work of the constitutional review committee had to be suspended due to lack of funds.

According to the party source, the poor financial state of the ruling party is biting hard on the leadership which presently manages to offset monthly wage bills of its staff.

Another party source said that there had been mounting electricity bills which recently led to the disconnection of electricity supply to the national headquarters of APC in Wuse II, Abuja.


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