Okonjo Speaks: Jonathan Asked me to Withdraw $2bn From ECA for Subsidy Payment

According to ex Finance Minister, Dr. Ngozi Okonjo-Iweala, ex President Goodluck Jonathan authorized the withdrawal of $2bn from the Excess Crude Account for subsidy payment on petroleum products. 

 

 Adams Oshiomole, the governor of Edo state had said there's been a depletion in the funds from $4.1 billion as at November 2014 to $2.1 billion, even when there was no authorisation for any withdrawal from the funds known to state chief executives.

But speaking in a statement issued by Paul Nwaibuikwu, her media assistant yesternight, Iweala said payments "made were used for paying for petroleum subsidies for the Nigerian people and were approved by Mr President,”

“Therefore there is no question of mismanaging any resources here,” she added

Okonjo-Iweala also said FAAC did not approve such expenditures, but “that all these expenditures were discussed at FAAC meetings attended by Finance Commissioners from the 36 states.”