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.