₦5 Million Missing? S/South NYCN VP Obo accuses C/River Youth Council Chair Olayi of financial mismanagement

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…Dan Obo’s plan to replicate his Cross River success across the South South zone

 

Calabar –The Vice President (South South) of the National Youth Council of Nigeria (NYCN), Dan Obo, has made explosive allegations against the current State Chairman of the NYCN in Cross River, Emmanuel Olayi, accusing him of financial opacity and questionable administrative practices in the management of youth subvention funds NEGROIDHAVEN can report.

Obo, a former Cross River State Chairman of the Council, made the remarks during an interview with NegroidHaven.com on Tuesday, asserting that Olayi failed to account for ₦5 million out of a ₦10 million subvention approved by the state government for the Council’s operations.

“The ₦10 million was paid into the NYCN account through Globus Bank. What we got was ₦5 million. The other ₦5 million is missing till today,” Obo alleged. “And when you ask questions, you’re in trouble.”

He further claimed that the funds were meant for the general benefit of the state’s youth population but were handled with a lack of transparency and accountability under Olayi’s watch.

 

“I Was Asked to Leave ₦5 Million Behind” — Obo Reveals Transition Controversy

Obo also revealed that during the transition of leadership in 2023, unnamed actors allegedly attempted to pressure him to reserve ₦5 million from the Council’s finances for the incoming administration—a request he said he firmly rejected.

“Someone said I must leave ₦5 million behind. I said, ‘No, I won’t.’ Instead of leaving money behind arbitrarily, I kept it safe for the next administration,” he said.

He maintained that he officially handed over ₦10 million to the new leadership, adding that he had earlier raised the subvention from ₦5 million to ₦10 million during his term.

 

On the Alleged Exploitation of Local Government Candidates

The NYCN South South VP also criticized the hike in administrative charges for those seeking local government youth leadership positions, saying the form fees were increased from ₦80,000 to ₦120,000 without a proper justification.

“We were very clear during our time—₦80,000 was the total cost. But now, that cost has been inflated. It doesn’t make any sense,” he argued.

Obo lamented the monetization of the Council’s internal politics, warning that such practices threaten the integrity and independence of the organization.

 

Despite Criticism, Obo Pledges Support for Olayi

Despite the criticisms, Dan Obo noted that he still considers Emmanuel Olayi a “fantastic and simple gentleman,” adding that as a national officer, he would protect the stability of the Council in the state and resist efforts to plunge it into factional crisis.

“Power is given by God. We’ll support him, and nothing will happen to him as long as we remain in national leadership,” he said, while also referencing past crises that led to parallel leadership structures in 25 states across the country.

He added that during his own controversial exit, he chose not to push back in order to protect the state’s image and prevent factionalism, even though his preferred successor was sidelined.

 

“We Left the Council Better Than We Met It” — Obo on His Legacy

Reflecting on his tenure, Dan Obo proudly stated that he left the NYCN Cross River chapter in a stronger position, both structurally and financially.

“We took it from Angus Bar with no roof; we gave it a roof. From ₦5 million in subvention to ₦10 million. From only LG structures to fully functional ward structures,” he said.

He also cited major milestones, including convening three assemblies of the Youth Parliament—a feat he described as unprecedented in the state.

 

Vision for the South-South: Expanding the Cross River Model

On his new role as Vice President for the South South zone, Obo said his primary mission would be to expand the Cross River success model to the other five states in the region—Edo, Delta, Bayelsa, Rivers, and Akwa Ibom.

“We already have functioning leadership structures in five states. For Akwa Ibom, we’ll address some gaps. My goal is to replicate our programs—on agriculture, education, political engagement—across the region,” he said.

Obo promised to maintain availability, grassroots presence, and youth-driven programming, stating that his leadership philosophy was built on service, sacrifice, and accessibility.

 

A Cautionary Note on Power and Responsibility

In closing, the NYCN VP expressed concern that youth energy in Cross River was becoming inwardly destructive rather than outwardly productive, especially when it comes to national representation.

“Our strength as young people is used against ourselves. We are not daring enough to compete nationally. We need to change that mindset,” he cautioned.

He also criticized the “politics of entitlement” that he believes has crept into Cross River politics, where people now expect blind loyalty in return for minor gifts.

“If someone gives you an exercise book or 100K, they believe you owe them political support. That’s not how democracy works,” he concluded.