Rotimi Amaechi Received N257.6 Billion. Okonjo-Iweala

In response to the communique of the Nigerian Governors Forum on Monday which was read by Rivers state governor, Rotimi Amaechi, the minister for finance, Mrs Ngozi Okonjo-Iweala has given a response to the call on her to explain the whereabouts of about $20 billion from the Excess Crude Account (ECA).

The minister who gave her response through a statement released by her spokesman, Paul Nwabuikwu late yesterday, said Rivers governor, Amaechi received N257.6bn between January and October 2013 and that the governors have no basis for alleging money was missing from the ECA.


A portion of the statement reads:

“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.

“Nothing is hidden. At these meetings, the Minister of State, who is the Chairman of FAAC, announces the balance in the ECA which is then discussed.”

The minister directed governors who need further explanation on the account to consult their commissioners.

“Governors who want any information about the ECA should ask for details from their commissioners who should have the records of what was discussed and agreed upon.

“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.”

The statement added that in the interest of transparency and accountability, the ministry of finance would, in a couple of days, publish the details of the ECA for the last four years.

Source: The Cable