The All Progressives Congress (APC) has acknowledged that its presidential candidate and President‑elect, Bola Tinubu, forfeited $460,000 to the United States government in 1993 following a drug‑trafficking allegation. Tinubu received 8,794,726 votes, defeating Peoples Democratic Party candidate Atiku Abubakar and Labour Party candidate Peter Obi in the February 25 presidential election.
Peter Obi challenged Tinubu’s victory, arguing that the forfeiture indicated conduct sufficient to disqualify Tinubu from contesting the election. In response, the APC filed proceedings to defend its candidate, denying that Tinubu was ever convicted by the United States as a result of the forfeiture.
The APC informed the Presidential Election Petition Court, sitting at the Court of Appeal in Abuja, that the funds in question were held in two commercial banks and were subject to a civil forfeiture proceeding (Case No: 93C4483). The party clarified that the decision targeted the funds in accounts opened in Tinubu’s name at First Heritage Bank and City Bank N.A., not Tinubu personally. The compromise that led to the forfeiture was preceded by an explicit admission on record that Tinubu did not admit to any drug‑related or illicit conduct, dishonesty, or fraud that would meet any of the grounds for disqualification from the presidential race.
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