Leaked financial intelligence documents circulating online have raised questions over transactions allegedly involving more than ₦1.7 trillion that reportedly passed through the accounts of AJAP Financial Services Limited between January 2024 and March 2026.
The documents, which were reportedly linked to an investigation by journalist and content creator Dan Bello, have not been independently verified, and the authenticity of both the documents and the figures remains unconfirmed.
According to the leaked materials, the company allegedly recorded approximately ₦1.72 trillion in credits and ₦1.76 trillion in debits during the review period. Analysts cited in the report described the transaction volume as unusually high for a privately owned corporate account.
The documents further allege that several large deposits were made into a United Bank for Africa (UBA) account with descriptions such as “FAAC Withheld Escrow,” “Federation Account,” and “Mediation Cost on Refund of 13 Percent Derivation on NLNG Divi.”
Among the transactions highlighted are several high-value transfers amounting to about ₦522.7 billion, with some reportedly occurring around periods when meetings of the Federation Account Allocation Committee (FAAC) were held.
The report also claims that the account later received approximately ₦2.73 billion through transactions carrying descriptions that referenced former Zamfara State Governor, Senator Abdulaziz Yari.
In addition, the leaked documents identify former Zamfara Commissioner for Finance, Muktar Shehu Idris, as an alleged director of AJAP Financial Services Limited, while Abdullahi Abdulkarim Tsafe, a former Commissioner for Water Resources and Chief of Staff in the state, is named as the company’s alleged Managing Director and Chief Executive Officer.
The report also raises questions about an alleged consultancy contract reportedly awarded by the Nigeria Governors’ Forum (NGF) to a company linked to Senator Yari during his tenure as chairman of the forum, suggesting possible conflict-of-interest concerns if the claims are substantiated.
The documents further allege that funds were subsequently transferred to several companies in transactions that some financial analysts believe resemble patterns commonly examined during anti-money laundering investigations.
Other reported observations include large round-figure transfers, entries described as investments and share deposits, transaction reversals involving substantial sums, and an alleged negative closing account balance of ₦36.8 billion.
Financial compliance experts quoted in the report noted that, if verified, the alleged mixing of political donations, consultancy payments, and government-related inflows within a single corporate account could raise issues under Nigeria’s anti-money laundering laws and financial regulations.
The revelations have prompted calls from civil society groups and public finance experts for agencies including the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), Nigerian Financial Intelligence Unit (NFIU), Bureau of Public Procurement (BPP), Federal Inland Revenue Service (FIRS), and the Office of the Accountant-General of the Federation (OAGF) to conduct independent investigations.
They are seeking clarification on the legal basis for the transactions, procurement procedures, consultancy arrangements, compliance with financial regulations, and whether public funds were appropriately managed.
As of the time of reporting, AJAP Financial Services Limited, Senator Abdulaziz Yari, the Nigeria Governors’ Forum, and the government agencies mentioned had not publicly responded to the specific allegations. The claims remain unproven, and no court has issued any ruling establishing wrongdoing.
