The Minister of Finance, Dr Ngozi Okonjo-Iweala says 30 billion dollars is
not missing from the Excess Crude Account as speculated by Gov. Adams
Oshiomhole of Edo.
This is according to a statement issued on Saturday in Abuja by Mr Paul
Nwabuikwu, the spokesperson to the minister.
“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 read in part.
It stated that Oshiomhole’s comments gave the impression that the Federal
Government doles out whatever it wished to the states 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 added.