20.1.2026
Nigerian contracts owed monies by the Federal government have vowed to continue with their occupation of the Ministry of Finance, till they are settled by the government.
The contractors under the umbrella of the All-Indigenous Contractors Association of Nigeria (AICAN) claimed they are being owed collectively over ₦4.7 trillion.
“Most of our members borrowed heavily from banks and are now losing their properties,” Mr Jackson Ifeanyi chairman of the association said Tuesday during a chat on Channels Television’s The Morning Brief.
“We will continue to occupy until all verified payments are settled.
“Government gives warrants without cash backing. It’s like giving a check that you can’t cash at the bank. “This system is killing the real sector and real investors”.
Last month, President Bola Tinubu set up a committee to resolve the debt owed to the contractors, which was then pegged at ₦1.5 trillion. However, Ifeanyi accused the government of trying to divert attention from the matter.
“Whenever the government sets up a committee, it is often to divert attention. As we speak, no payment has been made,”
“If any was made, it probably went to foreign contractors. Our calculation shows the debt is over ₦4.7 trillion.”
On Monday the AICAN members occupied the premises of the Federal Ministry of Finance to protest against the non-payment of the alleged debts, During Monday’s protest, the contractors claimed the Federal Government did not release the monies earmarked for them in the 2024/2025 budgets.