Stella Dimoko Korkus.com: Okonjo-Iweala Denies Unauthorised Excess Crude Account Spending Totalling $2.1bn

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Wednesday, July 01, 2015

Okonjo-Iweala Denies Unauthorised Excess Crude Account Spending Totalling $2.1bn


The immediate past Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Tuesday described as “false, malicious and without foundation” the allegation by some governors that she spent the sum of $2.1bn from the Excess Crude Account without authorisation.



The National Economic Council, chaired by Vice-President Yemi Osinbajo, had on Monday accused Okonjo-Iweala of spending the amount from the ECA without authorisation.



Edo State Governor, Adams Oshiomhole, had told State House correspondents after the NEC’s 58th meeting in Abuja, “We looked at the numbers for the Excess Crude Account. The last time the former Minister of Finance and Coordinating Minister of the Economy, Mrs. Ngozi Okonjo-Iweala, reported to the council, and it is in the minutes, she reported by November 2014 that we had $4.1bn.


“Today, the Accountant-General’s office reported that we have $2.0bn. Which means the honourable minister spent $2.1bn without authority of the NEC and that money was not distributed to states; it was not paid to the three tiers of government.”
But the minister said in a statement issued by her Special Adviser on Media, Mr. Paul Nwabuikwu, that no unauthorised expenditure from the ECA was made under her watch in the finance ministry.

She said decisions on such expenditure were discussed at meetings of the Federation Accounts Allocation Committee attended by finance commissioners from the 36 states.
The statement read in part, “The allegation by some governors that the former Minister of Finance, Dr. Ngozi Okonjo-Iweala, spent $2.1bn out of the Excess Crude Account ‘without authorisation’ is false, malicious and totally without foundation.

“It is curious that in their desperation to use the esteemed National Economic Council for political and personal vendetta, the persons behind these allegations acted as if the constitutionally recognised FAAC, a potent expression of Nigeria’s fiscal federalism, does not exist.

“But Nigerians know that collective revenues, allocations and expenditures of the three tiers of government are the concern of the monthly FAAC meetings.
“It is important to acknowledge the efforts of governors who are working hard to overcome the current revenue challenges facing their states without resorting to character assassination and blame games.

“But it is clear that this is the latest chapter of a political witch-hunt by elements who are attempting to use the respected National Economic Council for ignoble purposes, having failed abysmally in their previous attempts to tar the Okonjo-Iweala name.”


The statement added that the former minister was ready and willing to respond to legitimate enquiries about things that happened under her watch.

Punch reportage




20 comments:

  1. I know it even before she responded that the new administration is out to destroy her hard earned world class image.

    ReplyDelete
    Replies
    1. Which hard earned image? Her economic strategies almost crippled Nigeria.
      His brother, Prof. Soludo warned her about unrealistic statistics from IMF and WB but refused to listen till we all got to this state of comatose.


      Delete
    2. Don't mind APC and @Sai baba.



      @Galore

      Delete
  2. Nobody ever admits to a crime.

    ReplyDelete
  3. a.k.a EDWIN CHINEDU AZUBUKO said..
    .
    She always have something to say all the tym....
    .
    .
    ***CURRENTLY IN JUPITER***

    ReplyDelete
  4. Y am I not surprised? Of course she will deny it!

    ReplyDelete
  5. The witch hunters will shut up after dis now, just watch and see

    ReplyDelete
    Replies
    1. Why are you so daft. Is everything about witch hunting? Nobody is going to shut up but you. Eka sadness

      Delete
  6. I don't know what to believe again

    ReplyDelete
  7. Well, there is still time. We will know what's up

    ReplyDelete
  8. Will she accept it before,all of dem are all d same ,dey keep on eating nd eating,even to help d needy,dey refuse to do it,nd keep eating,y will she accept it,well time will tell...

    ReplyDelete
  9. They should show evidence. at least i will believe. we need to see evidence on newspapers where the money went. who signed it and who collected.

    i just remember that Osho is angry that he could not collect more money from ECA account and Okonjo had to publicise states that have been collecting such monies, so this is vendetta.

    short jimmy pingo man.

    ReplyDelete
  10. They should leave Mrs Ngo alone.
    Was she not the one that exposed how much each state Gov received from the excess crude 'raw cash' acct? What did they do with the huge amount? Nothing.

    ReplyDelete
  11. Don't mind those governors. Some of them are drop outs parading with Adigboroja certificates. They have no business with figures.

    ReplyDelete
  12. Time always reveals the truth madam Ngozi.
    Why soil your image becos of money

    Lufizz

    ReplyDelete
  13. Madam, am so happy you have words to say to back up this story but bikonu better be sure you are saying the truth cos the four governors buhari used in forming the NEC are not jokers. Anyway, let's hope you are speaking the truth because this simple denial will make El rufai, and FBI oshiomohle dig deeper and trust me things will go sour. Please ask Ibori what denial can cause before you bluntly deny. No 1 wants your image tarnished honestly but for our sakes, your image and for those women who take you as their role model, this your claim better be true and an apology sent to you else, the four FBI's will dig this beyond what you think.
    SDk's certified MD

    ReplyDelete
  14. Witch hunting or no, if you are a witch then the accusation (and subsequent prosecution) is OK.

    If not, we apologise.


    ReplyDelete

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