Ngozi Okonjo-Iweala ‘Amaechi received N257.6bn from crude funds,’ Minister says

The Nigerian Governors’ Forum (NGF), led by Rivers State Governor, Rotimi Amaechi, made the claim and demanded that the minster explain how the funds were disbursed.

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Nigeria's Minister of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala play

Nigeria's Minister of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala

(Financial Times)
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Nigeria’s Minister of Finance, Ngozi Okonjo-Iweala has responded to allegations that $20 billion in excess crude funds has gone unaccounted for.

The Nigerian Governors’ Forum (NGF), led by Rivers State Governor, Rotimi Amaechi, made the claim and demanded that the minster explain how the funds were disbursed.

In response however, Dr Okonjo-Iweala stated that Amaechi had received N257.6 billion out of the funds for use in his state.

“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,” she said via a statement released by her spokesperson, Paul Nwabuikwu on Tuesday, May 19, 2015.

“Gov. Rotimi Amaechi of Rivers, who was reported to have read the communique on behalf of the governors, made a similar unsubstantiated allegation in November 2013. He alleged in November 2013 that $5 billion was missing from the ECA but we subsequently showed with facts that the amount was not missing,” she added.

The NGF had issued a communique, also on Tuesday, demanding the full details of accruement and expenditure of the excess crude funds.

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