Ngozi Okonjo-Iweala, former minister of
finance and coordinating minister of the
economy, says she is “ready and willing to
respond to legitimate enquiries about issues
under her purview as finance minister”.
Denying the allegation that she spent $2.1
billion out of the excess crude account (ECA)
without authorisation, Okonjo-Iweala accused
some politicians of being bent on tarnishing her
image.
She said this in a statement issued on Tuesday
by Paul Nwabuikwu, her spokesman.
“The allegation by some governors that former
minister of finance, Dr Ngozi Okonjo-Iweala
spent $2.1 billion out of the excess crude
account “without authorization” is false,
malicious and totally without foundation,” the
statement read.
“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 (FAAC) attended
by finance commissioners from the 36 states.
“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 recognized FAAC, a potent
expression of Nigeria’s fiscal federalism, does
not exist.
“The former minister is ready and willing to
respond to legitimate enquiries about issues
under her purview as finance minister. 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.”
After the inauguration of NEC on Monday,
Adams Oshiomhole, governor of Edo state, who
is a member of the four-man committee,
saddled with the task of probing the Nigerian
National Petroleum Corporation (NNPC), alleged
that Okonjo-Iweala did not give a proper
account of the resources of the country.
“We looked at the numbers for the ECA, the last
time the minister of finance and coordinating
minister of the economy, reported to the council
and it is in the minute, she reported by
November 2014 that we had $4.1 billion. But
today, the accountant-general’s office reported
we have $2.0 billion, which means the
honourable minister spent $2.1 billion without
authority of the NEC. And that money was not
distributed to states, it was not paid to the three
tiers of government. This is why the NEC has
set up a panel to look at what accrued, what
was it spent for, when and by whom. So that
Nigerians will have the full picture of all the
transactions as regards the much talked about
Excess crude,” he had said.


www.thecable.ng/ready-probe-says-okonjo-iweala

Don't worry Ma'am, you have done enough explanations.


Our President is a dullard and doesn't understand modern economic terms and jargons, except dose dat bother on kwarrapt fratices in West Germany.
One thing I know for sure...he wouldn't remember a thing!

Quote me and get choked on burnt Dodo!

We then, we can begin the game.

madam Ankara we hear

Abi!

Which body has the authority to appropriate money and approve withdrawals; Federation
Accounts Allocation Committee (FAAC) or National Economic Council (NEC)? Ngozi and Oshiomhole should stop playing with words. We want to know what the money was used for. That is more relevant than who authorized withdrawal. And that is what they are not telling us.

If buhari fails 2 probe okonjo,deziani nd tinubu,den i wuld nt take im serious

Oya ooooo .......Buhari stop running your mouth and invite her for explanation.
Ask national Assembly wat happened when they invited her

please, are governors supposed to be auditing the NNPC.. who are they in financial comprehension and exercising and analysis of financial inflows and out flows if not embezzlement they are specialized on?
I will like the services of financial institutions they trust to do the analysis and arithmetics of flow then she can be invited and probed to clear the air.. i like people with open heart and that is why i love, NOI.
Please, how can the committee not know about the exercises, duty and participation of federation accounts allocation committee (FAAC) with her and they start airing false allegation.. this administration has a lot of fingers pointing at everyone they deem mor part of them and that might be their downfall though i pray for no such because we need to move forward, i am tired of potential and retarding mechanics of the Nigeria socio-economic state

U sure she can?

richidinho:
Oya ooooo .......Buhari stop running your mouth and invite her for explanation.
Ask national Assembly wat happened when they invited her

mrpackager:



That moments you are so sure ......because u ve alredy mastermind everything ..leaving no traces @ all

Even if them use ifa probe am ....dem no fit see anything


GOOD JOB .....okonjo

her reputation stands out even in the hatred filled Nigerians who know nothing about her administration but listen to the stench of foul economy cry from oppositions of the past administration....
In Nigeria from OBJ's regime to Yar'adua then to GEJ...
There is an addage in my place which says; When you are asked to continue on an endeavour, it means you are not doing bad.
She served Nigerians under 3 different Presidents...
Do you truly comorehenf the dynamics and mechanism of her administration under GEJ?
It was diversification which we have been crying on... she succeeded in putting the diversification hallmark of the economy which is peg for 60% non crude product and 40% crude revenue generation and that is why Agriculture and processing with industrialization was on increase lately....
Do you know the effect of the oil drop on countries like Russia and Venezuela ?
The above reason is why we didn't feel the harsh stride of the drop even Saudi Arabia foreign reserve was depleted because it and they have better economy than us presently before the crude price fall.
Let me measure her successes rate with OBJ's administration..
OBJ left $40+Billion in Nigeria reserve at his unseating when he solely managed the Petroleum Minister and Presidency of the country and ECA revenue wasn't shared among governors.
But under GEJ , the APC Amaechi led forum of governors asked for share of the ECA which the president accepted for peace to reign and she advised them to save because there is a raining day ahead but the APC states refuse to heed her advice because of hate and enmity this is why the owe their workers even Amaechi who was the 2nd to the highest receiver of the revenue with £1Billion not $ but could do nothing amounting to this amount to his people talk more of the main Federal revenue allocated to the state but his fellow who is the Highest with some few millions known asAkpabio of Akwa Ibom stare did wonders with what he got and his people are proud...
She helped the past administration keep $31Billion even in the fall and share of ECA revenue with OBJ didn't do so don't you think her administration and GEJ dwarf that of OBJ's?
Yes, it does because our Foreign Reserve would have amount in $100s of Billion if not for APC, greedy Amaechi and co. even after being hit with global oil fall.
I am awaiting the probe because it will connect a lot of politicians, i trust her....
good days ahead.
www.thisdaylive.com/articles/state-govts-shared-n2-92tn-from-excess-crude-account-in-four-years/210202/

usayab:
You should be ready to be jailed.......... Why is our excess crude oil account money? Remenber ure not talking to ure boy friend (GEJ), Baba de talk u de talk u no dey fear face. No mind her, she is not staying nigera. Baba na Real!

Your mumuism is legendary


Go ask your governors.

Are u ready for jail too

Editor1:
Ngozi Okonjo-Iweala, former minister of
finance and coordinating minister of the
economy, says she is “ready and willing to
respond to legitimate enquiries about issues
under her purview as finance minister”.
Denying the allegation that she spent $2.1
billion out of the excess crude account (ECA)
without authorisation, Okonjo-Iweala accused
some politicians of being bent on tarnishing her
image.
She said this in a statement issued on Tuesday
by Paul Nwabuikwu, her spokesman.
“The allegation by some governors that former
minister of finance, Dr Ngozi Okonjo-Iweala
spent $2.1 billion out of the excess crude
account “without authorization” is false,
malicious and totally without foundation,” the
statement read.
“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 (FAAC) attended
by finance commissioners from the 36 states.
“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 recognized FAAC, a potent
expression of Nigeria’s fiscal federalism, does
not exist.
“The former minister is ready and willing to
respond to legitimate enquiries about issues
under her purview as finance minister. 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.”
After the inauguration of NEC on Monday,
Adams Oshiomhole, governor of Edo state, who
is a member of the four-man committee,
saddled with the task of probing the Nigerian
National Petroleum Corporation (NNPC), alleged
that Okonjo-Iweala did not give a proper
account of the resources of the country.
“We looked at the numbers for the ECA, the last
time the minister of finance and coordinating
minister of the economy, reported to the council
and it is in the minute, she reported by
November 2014 that we had $4.1 billion. But
today, the accountant-general’s office reported
we have $2.0 billion, which means the
honourable minister spent $2.1 billion without
authority of the NEC. And that money was not
distributed to states, it was not paid to the three
tiers of government. This is why the NEC has
set up a panel to look at what accrued, what
was it spent for, when and by whom. So that
Nigerians will have the full picture of all the
transactions as regards the much talked about
Excess crude,” he had said.


www.thecable.ng/ready-probe-says-okonjo-iweala

that ape called oshomole thinks he can rubbish dis woman, let him settle his state judiciary issues first. Stupid man

hamilton62:

her reputation stands out even in the hatred filled Nigerians who know nothing about her administration but listen to the stench of foul economy cry from oppositions of the past administration....
In Nigeria from OBJ's regime to Yar'adua then to GEJ...
There is an addage in my place which says; When you are asked to continue on an endeavour, it means you are not doing bad.
She served Nigerians under 3 different Presidents...

I personally believe that chimp from edo state was asking the woman out but him shot hit bar, dats why him they beef the woman.

asumo12:
U sure she can?

Asumo12 my guy

richidinho:


Asumo12 my guy

BVN extended to oct 31 my guy


Godwin!

That Ancient Benin ape should stop being daft and Shamelessly ignorant...


bet he doesn't even know all those Economic terms pointed out by NOI


A good observation would notice that this current administration have nothing to offer Nigeria


if you think that The senile president would delive

then you must be high on Cement.


These Old !d!ots should stop casting blames and get to work by fulfilling the lame promises they uses to buy some Gullible amateurs in this Country!!

Do u thnk we believe u, she did took d money b'cos non of dem expected that Gej will nt win so it took dem un aware, d av compaign wit d money open wen d power return to them (pdp) d will cover it up but everythn took another dimention. well she cnt claim she is a saint b'cos she is a thieve 2, d say goat wey follow dog go chop shitt. Madam ankara who be ur friends?

Your mumuism is legendary


Go ask your governors.[/quote]
u mean those fund they gave them to rig election 4 GEJ? Don't worry if She is jailed, she will mention my govonors.