Okonjo-Iweala fires back: I didn’t spend $2.1bn


Ngozi Okonjo-Iweala, Nigeria’s Finance Minister
Nigeria’s former minister of finance, Dr Ngozi Okonjo Iweala has described allegations that she spent $2.1 billion out of the Excess Crude Account “without authorization” as “false, malicious and totally without foundation”.
Nigerian state governors had yesterday alleged that the former finance minister spent $2.1 billion from the Excess Crude Account, ECA without authorisation based on the balance of $2 billion now in the 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 $4.1 billion.
“Today, the Accountant General office reported we have $2 which means the honourable minister spent $2.1 billion without authority of NEC and that money was not paid to states, it was not paid to the three tiers of government,” Governor Adams Oshiomole told journalists after the NEC meeting.
He also announced that a committee made up of four governors have been set up by NEC to probe the unauthorized spending as well as failure of the Nigeria National Petroleum Corporation, NNPC to remit about $3.8 trillion it earned between 2012 and May 2015 to the federation account.
But the former finance Minister denied the allegation of unauthorised spending in a statement signed by Paul Nwabuikwu, his media adviser on Tuesday.
She added that decision to withdraw funds from the account is always made in conjunction with the states.
The former Minister also said the allegation presupposes non existent of the Federal Account Allocation Council where the States and the Federal Government usually agree on revenue sharing.
“We want to state categorically that no unauthorized expenditure from the ECA was made under Okonjo-Iweala’s watch in the Finance Ministry. Decisions on such expenditure were discussed at meetings of the Federation Accounts Allocation Committee …Read More

Source:: PM Newspaper