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Okonjo Iwela Debunks News Of Missing $30 Billion From Excess Crude Oil Account – SEE What She Has To Say!

The Minister of Finance, Dr Ngozi Okonjo-Iweala has debunked the claim that 30 billion dollars is missing from the Excess Crude Account as speculated by the Edo State Governor, Com, Adams Oshiomhole.

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In a statement released from the office of the minister of finance on Saturday, December 27, 2014, the spokesperson to the minister, Mr Paul Nwabuikwu stated:

“The widely published comment by Gov. 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 politicise the management of the economy on the basis of half-truths and sundry distortions.

“This is not good for the country,’’ the statement reads.

It also added that Com. Oshiomhole’s speculation misconceived the administrative provision of financial disbursement and incites the impression that the Federal Government carelessly dispenses whatever it wished to the component units 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 mainatained.

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