​Abuja. June 30, 2015

THERE WAS NO “UNAUTHORISED SPENDING” UNDER OKONJO-IWEALA: $2.1 ALLEGATION IS LATEST CHAPTER OF POLITICAL WITCH-HUNT

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.

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.

It is important to acknowledge the efforts of governors who are working hard to overcome the current revenue challenges facing their states without resorting to character assassination and blame games.

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.

It will be recalled that one of such attempts took place in May when some of these governors, hiding under the auspices of the Nigerian Governors Forum asked Okonjo-Iweala to explain $20 billion alleged to be missing from the same ECA.

The Finance Ministry subsequently issued a news release and published an advertorial in national newspapers on May 25, 2015 giving details of what the Federal Government and states received from the ECA in the last four years. It also provided details of the use of the funds for payment of petrol subsidies for the Nigerian public and SURE-P allocations to the three tiers for development purposes.

After the publication, the accusers lost their voice. But the latest allegations show that these persons are still in the business of throwing up wild, unsubstantiated figures to damage Okonjo-Iweala’s name. For instance, within the last few months, Governor Oshiomhole and his fellow travelers have asked Okonjo-Iweala to account for “missing” $30 billion, $20 billion and now $2.1 billion. What they don’t seem to understand is that the strategy has lost all credibility because the falsehood is clear for all to see.

How can some governors who fought FG’s efforts to leave robust savings in the ECA and even took the Federal Government to court over the matter turn around to make such unfounded allegations?

The world knows that it was Okonjo-Iweala who pioneered, during her first stint as Minister of Finance in the Obasanjo administration, the practice of publishing monthly updates of all allocations to different tiers of government in order to empower Nigerians with information and knowledge of government revenues and expenditure. This enabled the Nigerian public to ask questions about the utilization of these resources. Of course many elected and appointed public officials were not happy with this development.

She continued this practice when she returned in 2011 and even added periodic updates on the Excess Crude Account, subsidy payments for verified claims by oil marketers for fuel imports as well as SURE-P payments to the three tiers of government.

Against this background, the idea that she spent $2.1 billion “without authorization” is simply not credible given that details of government receipts and expenditure are public knowledge.

We believe that Nigerians are too smart to be hoodwinked by this partisan desperation to tar the name of Okonjo-Iweala.

In the interest of the country, we advise that public officials should avoid the temptation to politicize economic issues so that balanced analysis can lead to real solutions.

Paul C Nwabuikwu
Media Adviser to Dr. Ngozi Okonjo-Iweala

No "Unauthorized Stealing" You Mean?

Yeye Woman!

. Now playing politics of Attack in the morning and Defend in the evening.

NgeneUkwenu:

Space booking.

paragon40:

NgeneUkwenu:

Space booking.

They are really desperate to tarnish this woman's image. Buhari should investigate her immediately or spare us the noise for ever!

Informing members of FAAC monthly that you withdrew from the ECA doesn't mean the withdrawal was done with the necessary approval. The governors who are joint owners of the ECA have insisted that they've not received a dime from the account since 2013 so, the former minister should be prepared to tell the entire nation how she expended $2.1billiion between November 2014 and may 2015. She should also start preparing to explain how NNPC generated over N8trillion naira and only remitted N4trillion under her watch as the coordinating minister of the economy. She's got so many questions to answer and I will only advice her to start getting ready to defend her actions before the probe panel that will soon be commissioned to probe her tenure.

Will she not deny it before? Its just a matter of time, your eyes go clear.

The issue is:is the FAAC authorized to withdraw from that account?
There is a clear distinction between FAAC allocating revenues to different states of d federation and being allowed constitutionally to withdraw from the ECA.
As far as I know,FAAC has not got such withdrawal leverage and that's what NEC and Oshiomole are saying.
NOI possibly acting from powers above withdrew from the ECA unconstitutionally and therefore its use is subject to a probe.
Therefore all what NOI is saying here is bunkum.

NgeneUkwenu:


Sorry, the yeye corrupt woman has no image left to be tarnished...She had already Tarnished it before now...

How? because of the ECA funds our stupid governors spent recklessly? They should probe her abeg, enough of them using her to gain mileage.

.

D talk don dey 2 much.make dem efcc invite her if shez found guilty,get back our money nd jail her.shikena!

NOIConnect:
​
How can some governors who fought FG’s efforts to leave robust savings in the ECA and even took the Federal Government to court over the matter turn around to make such unfounded allegations?

The bold part is my exact sentiment on the commitee set up by the President to look into the alleged $2.1bn .

Adams Oshiomole was a party to the suit by the State governors, compelling the FG to disburse the ECA without recourse to statutory provisions.

i knew NOI won't disappoint me. she is a credible woman with a reputation to keep. even obama that meant a huge debt didn't complain like government

NgeneUkwenu:
No "Unauthorized Stealing" You Mean?

Yeye Woman!

Who is this clown hiding behind her keyboard?
Play your politics but dont tarnish someone's reputation.

Pls note that Karma is a bi-tch.....whatever U sow, U will definitely reap!

abuchilag:


[s]Who is this clown hiding behind her keyboard?
Play your politics but dont tarnish someone's reputation.

Pls note that Karma is a bi-tch.....whatever U sow, U will definitely reap![/s]

Shut up! They steal your money daily making life difficult for you and your dependents, while you save to buy MB and come online to defend your oppressors! Mumu!

NgeneUkwenu:


Shut up! They steal your money daily making life difficult for you and your dependents, while you save to buy MB and come online to defend your oppressors! Mumu!

Ain't you a fool for blaming you and your dependents short comings on her stop being a punk

Buhari the most confused president our time.


The only projects on ground are lamentations excuses and confusions






NIGERIANS SAY AFTER ME

PRAY NOT TO BE AS CONFUSED AS BUHARI

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PRAY NOT TO BE AS CONFUSED AS BUHARI

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PRAY NOT TO BE AS CONFUSED AS BUHARI

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In so far as we have dishonest con men presiding over the affairs of this nation at every strata, so long we'll keep prowling in the dark with no light at the end of the tunnel. Okonjo should not have bothered responding to this allegation as those who allege must provide proof. I remember Amaechi once claiming he had never received a penny from the SURE-P fund until the ministry of finance published the huge amount Rivers state had collected for 3yrs, He shamefully kept quiet after then without rebuttal to what the ministry published . They also once alleged Kolade resigned as chairman of SURE P because of 500b fraud, they kept peddling the story until the man put lie to the claim and as usual they've kept mum since then without having the decency to at least admit they were wrong with their outcry

doctokwus:
The issue is:is the FAAC authorized to withdraw from that account?
There is a clear distinction between FAAC allocating revenues to different states of d federation and being allowed constitutionally to withdraw from the ECA.
As far as I know,FAAC has not got such withdrawal leverage and that's what NEC and Oshiomole are saying.
NOI possibly acting from powers above withdrew from the ECA unconstitutionally and therefore its use is subject to a probe.
Therefore all what NOI is saying here is bunkum.

Did FAAC meet when the sum of 409b was shared by Buhari just of recent.
I think APC should forget about propaganda now that they are in government. What the people need is a well balanced government that will bring smiles into their faces.

She's good at defending herself even when she's guilty. This is something Mrs Madueke should learn from her. Just tell them 'THERE WERE NO UNAUTHORISED STEALING'