Immediate past
Co-ordinating Minister for the Economy & Minister of Finance, Dr.
Ngozi Okonjo-Iweala, yesterday described as “false and malicious,” the
allegation by Governor Adams Oshiomhole of Edo State, that she spent
$2.1 billion from the Excess Crude Account, ECA, without authorization.
Speaking through her Media Adviser, Mr. Paul Nwabuikwu, in Abuja, the
ex-minister said that there was no unauthorized expenditure from the ECA
under her watch in the Finance Ministry.
According to
her, decisions on withdrawals from the ECA were discussed at monthly
meetings of the Federation Accounts Allocation Committee, FAAC, attended
by Finance Commissioners from the 36 states.
It will be
recalled that after the National Economic Council meeting on Monday,
Governor Adams Oshiomhole of Edo State told newsmen that “Dr
Okonjo-Iweala reported by November 2014 that we had $4.1bn. Today, the
Accountant-General’s office reported that we have $2.0bn which means the
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”. The ‘unauthorized’ spending, according to the economic
council is among the anomalies discovered in the management of the
nation’s economy between 2012 and May 2015.
Denying the allegation however, Dr Okonjo-Iweala said: “It is curious
that in their desperation to use the esteemed National Economic Council
for political and personal vendetta, the persons behind these
allegations acted as if the constitutionally-recognized FAAC, a potent
expression of Nigeria’s fiscal federalism, does not exist.
“But Nigerians know that collective revenues, allocations and
expenditures of the three tiers of government are the concern of the
monthly FAAC meetings,” the minister said.
They failed before, they will fail again — Okonjo-Iweala
She added that Governor Oshiomhole and some others like him, had made
futile efforts at rubbishing her in the past and that the current effort
would fail like the ones before it.
According to her, “it is clear that this is the latest chapter of a
political witch-hunt by elements who are attempting to use the respected
National Economic Council for ignoble purposes having failed abysmally
in their previous attempts to tar the Okonjo-Iweala name.
“It will be recalled that one of such attempts took place in May when
some of these governors, hiding under the auspices of the Nigerian
Governors Forum, asked Okonjo-Iweala to explain $20 billion alleged to
be missing from the same ECA.
“The Finance Ministry subsequently issued a news release and published
an advertorial in national newspapers on May 25, 2015, giving details of
what the Federal Government and states received from the ECA in the
last four years. It also provided details of the use of the funds for
payment of petrol subsidies for the Nigerian public and SURE-P
allocations to the three tiers for development purposes.
“After the publication, the accusers lost their voice. But the latest
allegations show that these persons are still in the business of
throwing up wild, unsubstantiated figures to damage Okonjo-Iweala’s
name. For instance, within the last few months, Governor Oshiomhole and
his fellow travelers have asked Okonjo-Iweala to account for “missing”
$30 billion, $20 billion and now $2.1 billion. What they don’t seem to
understand is that the strategy has lost all credibility because the
falsehood is clear for all to see,” she said.
She wondered how some governors who fought the Federal Government’s
efforts to leave robust savings in the ECA and even took the Federal
Government to court over the matter now turn around to make such
unfounded allegations. She also acknowledged the efforts of governors
who are working hard to overcome the current revenue challenges facing
their states without resorting to character assassination and blame
games.
The former minister also said she pioneered the practice of publishing
monthly updates of all allocations to different tiers of government in
order to empower Nigerians with information and knowledge of government
revenues and expenditure.
“This enabled the Nigerian public to ask questions about the utilization
of these resources. Of course many elected and appointed public
officials were not happy with this development”, she claimed.
Publishing government revenues and expenditure, Dr. Okonjo-Iweala, said,
continued till the end of the Goodluck Jonathan administration as well
as periodic updates on the Excess Crude Account, subsidy payments for
verified claims by oil marketers for fuel imports and SURE-P payments to
the three tiers of government.
She insisted that the idea that she spent $2.1 billion without
authorization “is simply not credible given that details of government
receipts and expenditure are public knowledge”.
Oshiomhole throws fresh challenge
Following Dr Okonjo-Iweala’s denial, Governor Oshiomhole has therefore
challenged her to publish letter of authority as to how six billion
dollars of excess crude taxes from the Nigeria Liquified Natural Gas and
other funds were transferred to the consolidated Federal funds. Stating
that all the information released to the public by the National
Economic Council was obtained from the Accountant-General’s office,
Governor Oshiomhole declared that his committee is inviting the former
minister to tell Nigerians how excess crude funds and other allocations
were disbursed in the last four years.
He said : “She should publish the letter or instrument of authority as
to how the excess crude fund and fund from other sources such as NIMASA
and about $6bn paid as taxes from NLNG as well as the remittance for
four years were paid but not transferred to the consolidated federal
funds.
“The funds belong to the three tiers of government and she should
produce monthly statements of accruals and the distributions.
Authorization of funds are not verbal matters, there must be approvals
and that is what we are asking for.
“My committee will invite her and allow her ample opportunity to reply
to each of the charges against her office and NNPC as coordinating
minister. She will also be required to justify billions of naira and
dollars she granted as waivers, that should have flowed into the
federation’s consolidated revenue fund.
“There is no hiding place now. Everyone must now answer his/her father’s
name. Bold face will not suffice. She will be invited to exercise her
right to fair hearing.”