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Okonjo-Iweala being persecuted, says Aide as forum denies FAAC’s approval for $2bn ECA withdrawal

The brickbat between some people in the current government and the immediate past Minister of Finance, Dr. Ngozi Okonjo-Iweala, continued yesterday, with a group with the name Forum of Finance Commissioners denying that FAAC ever approved the withdrawal of $2 billion from the Excess Crude Account, ECA, late last year.
However, in a swift reaction, the former minister’s Media Adviser, Mr. Paul Nwachukwu, said that Dr. Okonjo-Iweala was being persecuted by political opponents of the last administration.
Okonjo-Iweala’s defence
We thank the Finance Commissioners for their clarification on the use of the Excess Crude Account (ECA) and for acknowledging that this is not an Okonjo-Iweala issue.
The statement clearly shows that Federation Accounts Allocation Committee (FAAC) is a statutory body which is chaired by the Hon. Minister of State for Finance in which all the states are represented.
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.


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