The All Indigenous Contractors Association of Nigeria (AICAN) has vowed to continue its protests until the Federal Government pays its alleged outstanding debts, which the group has pegged at ₦4.7 trillion.

On Monday, the contractors were at the premises of the Federal Ministry of Finance to protest against the non-payment of the alleged debts, but the association’s president, Jackson Ifeanyi, has warned that they will continue to push for the payment of the monies.

“Most of our members borrowed heavily from banks and are now losing their properties,” Ifeanyi said on Tuesday’s edition of Channels Television’s The Morning Brief. “We will continue to occupy until all verified payments are settled.”

The AICAN president claimed that the Federal Government issued payment “warrants” which had no cash backing, alleging that they were “dud checks”.

During Monday’s protest, the contractors claimed the Federal Government did not release the monies earmarked for them in the 2024/2025 budgets.

‘To Divert Attention’

The protest was the continuation of demonstrations by the contractors over the alleged non-payment of monies for projects executed. In November 2025, they were at the National Assembly and the ministry’s complex.

According to them, most of the executed and commissioned projects are yet to be paid for.

Last month, President Bola Tinubu set up a committee to resolve the debt owed to the contractors, which was then pegged at ₦1.5 trillion. However, Ifeanyi accused the government of trying to divert attention from the matter.

“Whenever the government sets up a committee, it is often to divert attention. As we speak, no payment has been made,” the AICAN president said on the breakfast show.

“If any was made, it probably went to foreign contractors. Our calculation shows the debt is over ₦4.7 trillion.”

Ifeanyi claimed, “Government gives warrants without cash backing. It’s like giving a check that you can’t cash at the bank. “This system is killing the real sector and real investors”.

Breach of Procurement Act?

According to the contractors, most of the executed and commissioned projects are yet to be paid for.

A policy analyst, Chibuzo Okere, who spoke on the show, attributed the development to the breach of the 2007 Procurement Act, which he said stipulates the award of contracts when funding has been secured.

“So if we are following the Procurement Act and the Federal Government Financial Regulations, we are not going to get to this point,” Okere said.

“And because we have been going through this process all these years, we have been creating this problem,” the analyst stated. (Channels TV)