Ngozi Okonjo-Iweala fires back at Oshiomole over Crude oil Account

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Sequel to the statement speculated by Governor Adams Oshiomole, The Minister of Finance, Dr Ngozi Okonjo-Iweala replies 30 billion dollars is not missing from the Excess Crude Account.

Mr. Paul Nwabuikwu, the spokesperson to the minister, according to a statement issued on Saturday in Abuja mentioned that:

“The widely published comment by Governor Adams Oshiomhole alleging that 30 billion dollars is missing from the Excess Crude Account is shocking and totally untrue.

“The comments reflect, once again, the unfortunate tendency of some political players to politicize the management of the economy on the basis of half-truths and sundry distortions. “This is not good for the country,” the statement read.

It stated that Oshiomhole’s comments gave the impression that the Federal Government doles out whatever it wished to the states from the Federation Account.

“But anyone who is familiar with the Federation Accounts Allocation Committee (FAAC) process knows that this is simply not true.

“The meetings are held every month and Commissioners of Finance and other officials represent their states and agreements are reached on issues including the distribution of proceeds from the Account. “There is no 30 billion dollars missing from the Excess Crude Account as alleged by Governor Oshiomhole,” it added.


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