Okonjo-Iweala Spent $2.1bn Without Authorisation-NEC

The National Economic Council, chaired by Vice-President Yemi Osinbajo, on Monday accused a former Minister of Finance and Coordinating Minister of the Economy under ex-President Goodluck Jonathan, Dr. Ngozi Okonjo-Iweala, of spending $2.1bn from the Excess Crude Account without authorisation.
The ‘unauthorised’ spending, according to the economic council, is among the several anomalies discovered in the management of the nation’s economy between 2012 and May 2015.
Within the period, the Nigerian National Petroleum Corporation was said to have earned a total of N8.1 tn but remitted only N4.3tn.
Consequently, the Federal Government has constituted Oshiomhole, Kaduna State Governor, Nasir el-Rufai; Akwa Ibom State Governor, Udom Emmanuel; and Gombe State Governor, Ibrahim Dankwambo, into a panel to probe the NNPC and the ECA between 2012 and May, 2015, to go through the books of the NNPC and Excess Crude as well as the Federation Account.
The Federal Government, in conjunction with the Central Bank of Nigeria, will look inwards to see how to support and how much they will give to states, especially on the issue of outstanding salaries owed by the states and even the Federal Government.