Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has challenged the Federal Government to investigate and prosecute him if it has evidence linking him to the alleged misappropriation of $16 billion in power-sector funds.

Atiku made the challenge in a statement issued on Wednesday by his Senior Special Assistant on Public Communication, Phrank Shaibu, amid renewed controversy over allegations surrounding power projects implemented during previous administrations. He maintained that the allegations had been repeatedly raised without resulting in his invitation, prosecution or conviction.

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According to Atiku, the National Assembly had investigated the power projects, but he was never invited to respond to any allegation of wrongdoing. He also clarified that although he chaired the National Council on Privatisation as Vice President, he disagreed with the concept of the power project and did not preside over its implementation.

“I have repeatedly asked to be investigated. I left office in 2007 and have spent much of the period since then opposing governments in power. If there is evidence that I stole public money, why has no government produced it before a court? Investigate me. Invite me. Produce the evidence. Prosecute me if you have a case. But propaganda cannot substitute for evidence,” he said.

Atiku accused the President Bola Tinubu administration of recycling old allegations to divert attention from questions surrounding the proceeds of the 2023 petrol subsidy removal. He challenged the government to account for the revenues generated since the policy was introduced, arguing that Nigerians have experienced increased petrol, transport and food costs as well as declining purchasing power.

The former vice president also questioned government spending priorities, alleging that while ordinary Nigerians continue to bear the impact of subsidy removal, powerful interests benefit from fiscal incentives, waivers, tax credits and concessions.

“They removed subsidy from the poor and promised that the sacrifice would free resources for development. Nigerians accepted extraordinary pain on that promise. Today, petrol is more expensive, transportation is more expensive, food is more expensive and the purchasing power of the Nigerian worker has been devastated,” Atiku said.

He asked: “So our question remains brutally simple: where is the people’s money?”