Tuesday, June 16, 2026

Gowon replies British lawmaker on looting ‘half’ of Nigeria’s central bank

The former Nigerian leader said he served diligently.

• November 26, 2020
Former Nigerian Military Head of State Yakubu Gowon
Former Nigerian Military Head of State Yakubu Gowon

Former head of state, Yakubu Gowon, has told the BBC that an allegation by a British MP saying he stole “half of Nigeria’s Central Bank” was “rubbish.”

While debating the issue police brutality and Nigerian government’s highhandedness against #EndSARS protesters on Monday, Conservative MP Tom Tugendhat, declared:

“Some people will remember when General Gowon left Nigeria with half the Central Bank of Nigeria, so it is said, and moved to London.”

Mr. Gowon however took exception to Mr. Tugendhat’s claim.

“I don’t know where he got that rubbish from, I served Nigeria diligently and my records are there for all to see,” the former Nigerian leader said.

Mr. Gowon ruled over Nigeria between 1967 to 1975 when he was removed in a bloodless coup. He supervised the country’s three-year civil war where about three million Nigerians, mostly from the Eastern part are believed to have been killed. His reign also witnessed a boom in oil revenue which many believe was squandered while prosecuting the war.

He moved to the UK after leaving power and studied political science and international relations at Warwick University.

Mr Tugendhat’s statement has since generated furore amongst young Nigerians online with many of them taking a swipe at Mr. Gowon and other Nigerian leaders who have in the past been caught looting the country’s commonwealth and staching it in foreign bank accounts.

A former Nigerian military leader, Sani Abacha has been found to have stolen millions of dollars in bank notes directly from the Nigerian Central Bank before he died suddenly in 1998. Many of the Abacha loot are still being repatriated from countries like Switzerland, U.S. and UK till date.

Speaking on the matter, African Development Bank chief Akinwunmi Adesina, however, warned people to be wary of “misinformation,” vouching for the integrity of Mr. Gowon.

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Police officers

Heading 5

Oyo police recover additional firearms, exhibits after arrest of five suspected armed robbers 

He said the interrogation of the suspects led to the recovery of additional exhibits linked to the case.

Photo at the crash scene

Heading 2

U.S. Air Force B-52 bomber crashes shortly after takeoff at Edwards Air Force Base

The number of casualties and those on board are yet to be ascertained.

Centre for the Promotion of Private Enterprise (CPPE)

Economy

Nigeria’s food inflation at 17% worrisome, weakening household purchasing power: CPPE

The NBS, on Monday, reported that Nigeria’s headline inflation rate rose slightly to 15.93 per cent in May 2026 from 15.69 per cent in April.