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 (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.
“But Nigerians know that collective revenues, allocations and expenditures of the three tiers of government are the concern of the monthly FAAC meetings,” said Iweala.
The Minister said the allegation was intended to smear her reputations as has been attempted in the past. She however said she is ready to defend her service to the country as finance minister.

http://www.pmnewsnigeria.com/2015/06/30/okonjo-iweala-fires-back-i-didnt-spend-2-1bn/

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This woman keep citing the FAAC meeting she held with finance commissioners. Are these commissioners ghost workers? If decisions were reach, were these decisions implemented? If monies were disbursed, which accounts were they disbursed to?

At the moment NOI has a lot of explanation to make.

Did we get that much? Was it squandered? That is the funny reality of the allegations not the authorization and the legalism et all.

Ok

When the Panel is constituted, you will come and explain madam! Everybody knows how 2 rake 4 reporters when the evidence is still not in front of you! Calm down!

Madam no dey gree. Lol

Actually she was given authorisation by?


Guess who



The fisherman from otueke

Madam Okonjo thank you. It amounts to ignorance and deception for someone like Governor Adams "Go and Die" Oshiomole to make such baseless accusation. Nigerians are aware of all that went on. Even some of us that are not close to power will not make such baseless accusation

Baba see what you have done. Set EFCC may every body go defend him/herself there yet your just wasting our precious time.





#time shall tel.

Boss13:
This woman keep citing the FAAC meeting she held with finance commissioners. Are these commissioners ghost workers? If decisions were reach, were these decisions implemented? If monies were disbursed, which accounts were they disbursed to?

At the moment NOI has a lot of explanation to make.

My brother, let us be honest with ourselves. What Iwaela said isn't new. The Min and Accountant General in January gave a break down of how the monies were spent and with authorisation of FAAC. Oshiomole should ask his Finance Commissioner if he's clueless. This isn't a subject for debate!

Apc sabi blackmail and propaganda,


Sounds like they are planning to fail, hence they are looking for who to put blame on.

In order news, WHERE IS LIAR MOHAMMED??

This is just the beginning ... more allegations are still coming...she better get ready

APC = lies and propaganda
They are already looking for excuses not to perform bunch of hypocrites.

Madam nothing new here we all know the like of oshiomole, ameachi have always criticize you. we know u are far higher intelectually than them. And they spent these monies during campaigns and are now trying to cover theor tracks. They need a court of law to tarnish ur image.