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If former Minister of Finance, Dr. Ngozi Okonjo-Iweal had expected support from state commissioners over withdrawals from the Excess Crude Account (ECA), she must have been sorely disappointed on Tuesday.

Commissioners of Finance and Accountants General of the 36 states of the federation distanced themselves from her claims that the decision to withdraw and spend $2bn from the account last December was jointly taken.

Okonjo-Iweala had faulted claims by Governors Adams Oshiomhole (Edo) and Nasir El Rufai (Kaduna) that under the outgone administration, withdrawals from the account were unilaterally taken.

She had described the governors’ claim as “false, malicious and totally without foundation”, adding that the decisions were jointly taken at the regular meetings of FAAC.

But members of the FAAC, under the aegis of the Forum of Commissioners of Finance, on Tuesday described her claim as “misleading and far from the fact”.

The commissioners, in a press statement, declared: “It has come to our notice the statement credited to the former Coordinating Minister of the Economy and Honorable Minister of Finance, Dr. Ngozi Okonjo-Iweala, that the Federation Account Allocation Committee (FAAC) approved the withdrawal from Excess Crude (Foreign) Account the sum of Two Billion U.S. Dollar ($2,000,000,000.00).”

The Forum said that the law setting up FAAC, which predates the ECA, “cannot approve withdrawal and has not done so in the past.”

If anything, the Commissioners continued, records of FAAC meetings show that members have always queried the activities on the ECA, and therefore did not decide any withdrawal.

Although the Commissioners said they observed the withdrawal of $2bn from the ECA in December 2014, the then Minister of State Finance and Chairman of FAAC, had explained during plenary that approval came from former President Goodluck Jonathan.

The withdrawals were to help pay subsidy claims to oil marketers, who had threatened to stop importing petroleum products.

“FAAC did not and could not have approved, nor took the decision to withdraw the sum of Two Billion U.S. Dollar ($2,000,000,000.00) from the Excess Crude Account,” the Commissioners said.


http://dailytimes.com.ng/faac-disowns-okonjo-iweala-over-2b-eca-funds/[/size]

gf

When the truth cannot be revealed, that's when the acclaimed knowledgeable elements start twisting English Language not only to confuse the masses, but to give them escape route anytime they are about to be caught. Dr. Mrs Iweala said FAAC approved the spending...now she is saying Ex-Mr. President...
Another question now is can a president approves spending from ECA alone? Many question to be answered

Presticible,Has anyone notice the high correlation between being a liar and a thief? Madam okonjo who approved your withdrawal? Is it the otueke drinker or thr FAAC?

No one needs a rocket scientist to know that GEJ connived with NOI to steal from the ECA without the knowledge of state governors and their commissioners.

That fat biatch needs to go to jail. See her her cheek like that of a pusssy cat.