Dr. Ngozi Okonjo-Iweala who was the former Minister of Finance and Coordinating Minister of the Economy under ex-President Goodluck Jonathan’s administration, has been accused of spending $2.1bn from the Excess Crude Account without obtaining appropriate authorization, according to Punch.
The National Economic Council, chaired by Vice-President Yemi Osinbajo, made this public accusation on Monday.
“We looked at the numbers for the Excess Crude Account. The last time the former Minister of Finance and Coordinating Minister of the Economy, Mrs Ngozi Okonjo-Iweala, reported to the council, and it is in the minutes, she reported by November 2014 that we had $4.1 bn.
“Today, the Accountant-General Office reported we have $2.0bn. Which means the honourable minister spent $2.1bn without authority of the NEC and that money was not distributed to states, it was not paid to the three tiers of government,” Edo State Governor Adams Oshiomhole told State House correspondents after the NEC’s 58th meeting in Abuja.
The ‘unauthorised’ spending, according to the economic council, is among the several anomalies discovered in the management of the nation’s economy between 2012 and May 2015. During the period reviewed, the Nigerian National Petroleum Corporation was said to have earned a total of N8.1 tn but remitted only N4.3tn.
As a result, the Federal Government has constituted a panel to probe the NNPC and the ECA between 2012 and May, 2015. The panel comprises the following dignitaries: Edo State Governor Adams Oshiomhole, Kaduna State Governor, Nasir el-Rufai; Akwa Ibom State Governor, Udom Emmanuel; and Gombe State Governor, Ibrahim Dankwambo.