Dr. Ngozi Okonjo Iweala, Nigeria’s former minister of finance
said on Tuesday night that the $2 billion she was alleged
to have withdrawn from Excess Crude Account without
authorisation was used to pay for fuel subsidy on the
instruction of former President Goodluck Jonathan.
She however said the issue was discussed at the Federation
Accounts Allocation Committee (FAAC), a statutory body which
is chaired by the Minister of State for Finance in which all
the states are represented. The former Minister however said
FAAC did not approve the withdrawal.
It will be recalled that Nigerian state governors had after the
inauguration of the National Economic Council about two
weeks ago accused Okonjo-Iweala of spending $2 billion from
the ECA, a pool of funds which belonged to the three tiers of
government.
Adams Oshiomole, the governor of Edo state told journalists
that there has been a depletion in the funds from $4.1 billion
as at November 2014 to $2.1 billion, even when there was no
authorisation for any withdrawal from the funds known to
state chief executives.
The governors had subsequently set up a committee made up
of four of their members to investigate the withdrawals.
“Payments made were used for paying for petroleum
subsidies for the Nigerian people and were approved by Mr
President,” Iweala said in a statement issued by Paul
Nwaibuikwu, her media assistant.
“Therefore there is no question of mismanaging any resources
here,” she added
Okonjo-Iweala also said FAAC did not approve such
expenditures, but “that all these expenditures were discussed
at FAAC meetings attended by Finance Commissioners from
the 36 states.”
PM News
