The Peoples Democratic Party (PDP) on Sunday said unbridled treasury looting and extortion by the cabal in the Buhari Presidency and the All Progressives Congress (APC) were directly responsible for the excruciating poverty and escalated insecurity being suffered by Nigerians in the last five years.

The party in a statement by the National Publicity Secretary, Kola Ologbondiyan, said the grandstanding by the Buhari Presidency in response to revelations of abuses and sleazes emanating from the investigation of the suspended acting Chairman of the APC-controlled Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, exposed a desperate attempt by a cabal to delink certain of its officials from indictment in the saga.

The party further stated that the recent revelations of widespread treasury looting, including the alleged allocation of billions of stolen money to certain top government officials, had also exposed the hypocrisy of the APC and how its leaders were mercilessly plundering the economy while abandoning citizens to a life of squalor.

“The picture is becoming clearer on how APC leaders, in the last five years, siphoned and pocketed over N14 trillion, from various government agencies, meant for the development of the nation and the welfare of Nigerians.

“From unfolding events, Nigerians are no longer in doubt that treasury looting is the official manifesto of the APC, which has now been exposed as a deceitful party that came to power by pretenses and pointing of accusing fingers at others while its real intention had always been to sweep the treasuries for their selfish gains,” PDP said.

The main opposition party in the country further stated that “this explains why the APC administration has failed to expose those involved in the wholesale stealing of N9.6 trillion ($25 billion) oil money as detailed in the leaked NNPC memo just as no steps have been taken by the APC government to investigate and recover the money.

“It equally explains why the APC administration had also failed to expose those behind the reported stealing of N1.1 trillion worth of crude oil, using 18 unregistered vessels linked to some of its leaders and why the money was never recovered.

“This is in addition to the mindless looting in revenue related agencies including the Federal Inland Revenue Services (FIRS), the National Health Insurance Scheme (NHIS), National Emergency Management Agency (NEMA) and the Niger Delta Development Commission (NDDC) among other agencies, which have been turned into ATM machines for APC leaders while Nigerians suffer neglect.

“The latest revelation of massive looting in NDDC, as detailed by its former Managing Director, Joy Nunieh, as well as the silence of the Buhari Presidency on the issues raised, grant further insight into how resources meant for the development of our nation are being pillaged under the APC,” PDP added.

The party said more distressing were allegations that “APC leaders are also looting part of the huge borrowings by the Buhari administration as well as diverting social intervention funds, such as the N500 billion Social Investment Programme fraud revealed by First Lady Aisha Buhari.”

The party said this was in addition to alleged stealing of repatriated funds and proceeds of huge multiple taxes imposed by the APC administration

“This massive looting by the APC is responsible for the collapse of infrastructure in all sectors; a frightening 23.1 percent unemployment rate, escalated insecurity, high costs of essential goods, increased morbidity rate, reduced life expectancy and a despondent citizenry.

“It also explains why the Buhari administration cannot point to any concrete achievements in the last five years other than reckless external borrowing, destruction of our productive sector, wrecking of our naira and an agonizing poverty, for which Nigerians now resort to suicide and slavery mission abroad as options,” the PDP said.

The party urged Nigerians not to despair but keep faith alive and continue to support one another in this perilous time, adding that the APC-led administration had distinguished itself as the worst and the most corrupt in the history of the nation for which Nigerians, across the board, were most eager to commit it to the dustbin of antiquity at the appropriate time.