The Social Democratic Party (SDP) has raised the alarm over a fraudulent bank account allegedly opened and operated under its name with the United Bank for Africa (UBA), warning the public and institutions to beware of financial dealings with the account.
In a statement issued in Abuja on Thursday, October 23, 2025, and signed by the party’s National Youth Leader, Dr. Uchechukwu Chukwuma, the SDP disowned the account with number 1028648401, purportedly operated by Olu Agunloye, Bello A. Hussaini, Sadiq Abubakar, and Maggie Mariam Batubo under the party’s name.
The statement reads, “The attention of the Social Democratic Party (SDP) has been drawn to a fraudulent bank account purportedly opened with United Bank for Africa (UBA) bearing Account Number: 1028648401, and operated by the above-named persons under the name of the Social Democratic Party. This account is falsely claimed to be authorized by or associated with the Party”
The SDP clarified that the said account is neither official nor authorized by the party, describing it as “fraudulent and illegal.”
The party referenced a letter from the Independent National Electoral Commission (INEC) dated July 30, 2025 (Ref. No. INEC/DEPM/CP/422/T/69), addressed to the Commissioner of Police, FCT Command, which confirmed the authentic list of the party’s National Executive Committee (NEC) led by Alhaji Shehu Musa Gabam as National Chairman.
According to Dr. Chukwuma, the individuals behind the fraudulent account were not recognized representatives of the party and had acted without any legitimate mandate. “Their actions, including the opening of a bank account in the name of the SDP, were carried out with fraudulent intent and without any authorization from the National Chairman,” he stated.
Citing several provisions of the SDP Constitution (2022, as amended), the statement reaffirmed that only the National Chairman has the power to authorize expenditures, open or operate bank accounts, preside over meetings of the National Working Committee (NWC), or delegate authority to any other officer.
The Party warned that any document, correspondence, or communication issued by the named individuals—or any other unauthorized person—without the written consent of the National Chairman is “illegal, unconstitutional, null and void.”
“The Social Democratic Party hereby disclaims any and all such documents, letters, or representations. All media houses, security agencies, financial institutions, stakeholders, and the general public are strongly advised to disregard these fraudulent materials and communications,” the statement said.
The SDP further cautioned that anyone who transacts with or relies on such documents “does so at their own risk and may be exposing themselves to legal consequences, litigation, and financial loss.”
The statement concluded by urging immediate attention from relevant institutions to forestall further misuse of the party’s name.
“As the saying goes, ‘A stitch in time saves nine,’” the party emphasized.
END
