Former Minister of Finance, Dr. Ngozi
Okonjo-Iweala, has refuted allegation
by some governors that she spent $2.1
billion out of the Excess Crude Account
without authorization.
A statement issued by her Media Adviser
Mr. Paul Nwabuikwu, describes the
allegation as false, malicious and totally
without foundation.
The statement says that no
unauthorized expenditure from the
Excess Crude Account was made under
Dr. Okonjo-Iweala’s watch in the
Finance Ministry.
According the former Finance Minister,
decisions on such expenditure were
discussed at meetings of the Federation
Accounts Allocation Committee (FAAC)
attended by finance commissioners from
the 36 states.
Part of the statement reads, “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 statement adds that the former
minister is ready and willing to respond
to legitimate enquiries about issues
under her purview as Finance Minister.
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