The New Peoples Democratic Party and the All Progressives Congress have challenged the Federal Government to account for the $5bn which has allegedly disappeared from the Excess Crude Account. The faction of the PDP and the APC separately threw the challenge on Sunday while reacting to a disclosure by the Chairman of the Nigeria Governors’ Forum, who is also the Governor of Rivers State, Mr. Rotimi Amaechi, while declaring open the second annual retreat of the NGF in Sokoto on Saturday. Amaechi had claimed that the Excess Crude Account stood at $9bn in January but shrunk to $4bn as of today. Money accruing from the Federation Account and its sharing by the Federal Account Allocation Committee were among the topics discussed at the retreat. A statement signed by the National Publicity Secretary of the New PDP, Chief Chukwuemeka Eze, in Abuja on Sunday, said the disclosure by the governor was too weighty to be ignored. Eze said, “We consider this development too weighty to be swept under the carpet in view of the stature of the person making the allegation and the realities on ground. “For all intents and purposes, Amaechi is not a frivolous person and is not known for making frivolous claims. “We told Nigerians about the poor handling of our common patrimony by this administration and sadly, nobody took it seriously as of today, the unmistakable evidence is that Nigeria is broke as the Federal Government now finds it difficult to meet its obligations to states, local governments and contractors.” Eze commended the NGF chairman for bringing the matter to the open and challenged the Federal Government to tell Nigerians what it did with the money. He also challenged the anti-graft agencies to prove their relevance by unearthing the whereabouts of the money, which he described as huge. He said the call by the NGF on the NNPC to be transparent in its activities and the need to develop a National Security Framework for the country was also commendable. While alleging that the present government was running for
“a price award as the most corrupt administration in the annals of governance in Nigeria,” he urged Nigerians to heed the advice of the NGF and stop being docile in the face of monumental impunity in the country. This, he said, was the only way to rescue Nigeria from the path of doom. Also, the APC criticised the President Goodluck Jonathan administration for the missing $5bn excess crude account fund. It said that when considered with other graft cases, it showed clearly that the administration swam in corruption. The party’s National Publicity Secretary, Alhaji Lai Mohammed, stated this in a telephone interview with one of our correspondents in Abuja on Sunday. He said, “This government is swimming in corruption. We are also making our own investigation into the missing money, which is $5bn. Even N5m is a lot of money. Now they have taken $5bn; about N800bn. That is what it will take us to have four mainland bridges. I can assure you the last has not been heard about it.” When contacted, the Special Adviser to the Finance Minister, Dr. Ngozi Okonjo-Iweala, Mr. Paul Nwabuikwu, said the ministry was preparing a comprehensive statement that would be issued on Monday(toda

source:-http://www.punchng.com/news/fg-should-account-for-missing-5bn-apc-new-pdp/

Omo! see money Oooo

even if dem no explain..nothing will still happen..no. be Naija we d again?but this people greedy..dey wicked ..see money way only few people shared among dem self's..yet ASUU demand could not be filled...poor beggars dey street dey beg ..me sef never chaw Dis morning..na em 5bn dollar don d miss
.....chai..umu uwa lekwanu oooo

God shey u d see all this things happening in this country cos when I go start ehhh...dey go say I don start..I go ehh....

ekwensu kpoo NEPA oku

NGF,could you please take over from EFCC?

What do they mean "disappeared"?

We are talking about money that was withdrawn and shared among the three tiers of government to make up for revenue shortfall.

The real issue for discerning minds is the loss of revenue due to oil theft, which the government of the day has (deliberately?) been unable to tackle.

More theft of crude oil, more loss of revenue, further depreciation of the currency, more hardship for Nigerians.

Fresh air.

This fresh air has been stinking! this allegation must b properly checked out o.

$5Billion can fix all d federal roads in Nigeria!

lol...who takes these Clowns seriously any longer?? Fooolish NOISEMAKERS. Let them be waiting for explanation about the monies they hv already shared to States from FAAC..

taharqa: lol...who takes these Clowns seriously any longer?? Fooolish NOISEMAKERS. Let them be waiting for explanation about the monies they hv already shared to States from FAAC..

The account belongs to the Federation(three tiers of government), though maintained by the FG. if there is a shortfall in revenue, it is pertinent that the FG consult with other parties(State and LG) before making deductions from the account. The confusion stems from the fact that the FG unilaterally made deductions from the account without the state governments knowledge.

take dat: The account belongs to the Federation(three tiers of government), though maintained by the FG. if there is a shortfall in revenue, it is pertinent that the FG consult with other parties(State and LG) before making deductions from the account. The confusion stems from the fact that the FG unilaterally made deductions from the account without the state governments knowledge.

Reali?? So all those times monies were released from this Account in other to Augment shortfall in Revenue at most FAAC meetings ALMOST ON A MONTHLY BASIS, including just 4 days or so ago when another $1billion was released and shared, cos State Govs hv been constantly demanding it, d States weren't aware right??.... Abeg, just cannot talk this morning unnecessarily. I will hv to pass...

taharqa: Reali?? So all those times monies were released from this Account in other to Augment shortfall in Revenue at most FAAC meetings ALMOST ON A MONTHLY BASIS, including just 4 days or so ago when another $1billion was released and shared, cos State Govs hv been constantly demanding it, d States weren't aware right??.... Abeg, just cannot talk this morning unnecessarily. I will hv to pass...

Are you talking or typing? Would they be asking for how the account is being managed if they were carried along? Bottom line, there should be a sort of synergy to reduce these accusations. Slow your rolls, you are always muddling up issues in a bid to defend the Government.

take dat: Are you talking or typing? Would they be asking for how the account is being managed if they were carried along? Bottom line, there should be a sort of synergy to reduce these accusations. Slow your rolls, you are always muddling up issues in a bid to defend the Government.

I think tharqa's post was quite self explanatory..maybe you need to explain how he muddled up issues