Okonjo-Iweala finds it ‘totally strange’ that Governors are saying N20bn is missing

by Azubuike Azikiwe

The Minister of Finance, Dr Ngozi okonjo-Iweala, says the allegation by the Governors Forum that 20 billion dollars were missing from the Excess Crude Account (ECA), is totally strange.

In a statement released on Tuesday by her spokesperson, Paul Nwabuikwu, she said there was no basis for the governors to request that she accounts for the money.

Okonjo-Iweala stated that details of the Excess Crude Account were published every month along with the allocations to the three tiers of government.

“The statement by the governors is totally strange because Federal Accounts Allocation Committee (FAAC), meets every month and the ECA is discussed at every session with all the state commissioners of finance present.”

“Nothing is hidden. At these meetings, the Minister of State who is the Chairman of FAAC, announces the balance in the ECA which is then discussed. So, governors who want any information about the ECA should ask for details from their commissioners who should have the records of what was discussed and agreed upon.”

The statement assured that in the interest of transparency and accountability, the ministry of finance would publish the details of the ECA for the last four years in a matter of days.

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