Jonathan Ordered Me To Withdraw $2bn From ECA, I Didn’t Spend It– Okonjo-Iweala

Dr. Ngozi Okonjo Iweala, Nigeria’s former minister of
finance said on Tuesday night that the $2 billion she was alleged to have
withdrawn from Excess Crude Account without authorisation was used to pay for
fuel subsidy on the instruction of former President Goodluck Jonathan.

She however said the issue was discussed at the Federation
Accounts Allocation Committee (FAAC), a statutory body which is chaired by the
Minister of State for Finance in which all the states are represented. The former Minister however said FAAC did not approve the
withdrawal.

It will be recalled that Nigerian state governors had after
the inauguration of the National Economic Council about two weeks ago accused
Okonjo-Iweala of spending $2 billion from the ECA, a pool of funds which
belonged to the three tiers of government.

Adams Oshiomole, the governor of Edo state told journalists
that there has been a depletion in the funds from $4.1 billion as at November
2014 to $2.1 billion, even when there was no authorisation for any withdrawal
from the funds known to state chief executives.

The governors had subsequently set up a committee made up of
four of their members to investigate the withdrawals.

“Payments made were used for paying for petroleum subsidies
for the Nigerian people and were approved by Mr President,” Iweala said in a
statement issued by Paul Nwaibuikwu, her media assistant.

“Therefore there is no question of mismanaging any resources
here,” she added

Okonjo-Iweala also said FAAC did not approve such
expenditures, but “that all these expenditures were discussed at FAAC meetings
attended by Finance Commissioners from the 36 states.”

PM News