Tuesday 30 June 2015

Excess Crude Account: Okonjo-Iweala denies unauthorised withdrawal, says she is ready for probe



The former Minister of Finance, Dr. Ngozi Okonjo-Iweala, has denied allegations that she spent $2.1 billion out of the Excess Crude Account without approval and has stated her preparedness to appear before any panel of inquiry over the issue.


It would be recalled that some governors led by Adams Oshiomhole of Edo State on Monday made the allegation against the former finance minister after the National Economic Council (NEC) meeting in Abuja.


Reacting Okonjo-Iweala’s media adviser, Paul Nwabuikwu, in a statement on Tuesday said “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.”


“Decisions on such expenditure were discussed at meetings of the Federation Accounts Allocation Committee (FAAC) attended by finance commissioners from the 36 states,” he added.


The former minister insisted that claims she “spent $2.1 billion without authorization” were simply not credible given that details of government receipts and expenditure were made public.

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