The Minister of Finance, Dr Ngozi Okonjo-Iweala says 30 billion dollars is not missing from the Excess Crude Account as speculated by Governor Adams Oshiomhole of Edo.
This is according to a statement issued
on Saturday in Abuja by Mr Paul Nwabuikwu, the spokesperson to the minister.
widely published comment by Governor Adams Oshiomhole alleging that 30
billion dollars is missing from the Excess Crude Account is shocking and
“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
“This is not good for the country,” the statement read.
stated that Oshiomhole’s comments gave the impression that the Federal
Government doles out whatever it wished to the states from the
“But anyone who is familiar with the Federation Accounts Allocation Committee (FAAC) process knows that this is simply not true.
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.