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NYCN urges probe of alleged misapplication of N75b youth investment fund

By Adamu Abuh, Abuja
27 September 2021   |   4:04 am
The National Youth Council of Nigeria (NYCN) has urged President Muhammadu Buhari to probe the alleged misapplication of the N75 billion Youth Investment Fund.

Solomon Adodo

The National Youth Council of Nigeria (NYCN) has urged President Muhammadu Buhari to probe the alleged misapplication of the N75 billion Youth Investment Fund.

The council’s President, Solomon Adodo, in a petition, copied the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, as well as the Secretary to Government of the Federation (SGF), Boss Mustapha, argued that there was no productive beneficiary of the fund that “is adding value to the Nigerian economy.

He insisted that an effective utilisation of the money would have served as a springboard “to shore up our GDP and generate more funds for government.”

He alleged: “ The ministry has surreptitiously proceeded to convene a congress of the NYCN contrary to the NYCN constitution where they hope to mislead the public by endorsing some candidates without due elections.

“Evidently, ministry officials have been compromised.”

The youth leader went on: “Your Excellency might further wish to note that I have been threatened and faced with varying degrees of intimidation with the backing of the ministry just to ensure I renounce my position as NYCN President.

“The height of this was when I was kidnapped by some compromised police officers relying on the ministry’s misleading letters, taken to court without legal representation and immediately sent to prison on charges that I incited public disturbance by attempting to organise the National Leadership, Economic and Security Summit – a programme meant to shore up support for Mr. President ­ – and positively redirect the energies of the youth.”