GBAM!! Jonathan Ordered Me To Withdraw $2bn From ECA To Pay Fuel Subsidy – 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Okonjo Iweala, Nigeria’s former minister of finance said on Tuesday night that the $2 billion she was alleged to have withdrawn from Excess Crude Account without authorisation was used to pay for fuel subsidy on the instruction of former President Goodluck Jonathan.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 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. Subsequently Nigerian state governors after the inauguration of the National Economic Council about two weeks ago accused Okonjo-Iweala of spending $2 billion from the ECA,

 “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.”

 Source: PmNews -