$30bn not missing from Excess Crude Account – Okonjo-Iweala replies Oshiomhole

The Minister of Finance, Dr Ngozi Okonjo-Iweala says
30 billion dollars is not missing from the Excess Crude
Account as speculated by Gov. Adams Oshiomhole of
Edo.
This is according to a statement issued on Saturday in
Abuja by Mr Paul Nwabuikwu, the spokesperson to the
minister.
"The widely published comment by Gov. Adams
Oshiomhole alleging that 30 billion dollars is missing
from the Excess Crude Account is shocking and totally
untrue.
DAILY POST Poll: Who will
make a better vice president for
Nigeria in 2015?
"The comments reflect, once again, the unfortunate
tendency of some political players to politicise the
management of the economy on the basis of half-truths
and sundry distortions.
"This is not good for the country,'' the statement read in
part.
It stated that Oshiomhole's comments gave the
impression that the Federal Government doles out
whatever it wished to the states from the Federation
Account.
"But anyone who is familiar with the Federation
Accounts Allocation Committee (FAAC) process knows
that this is simply not true.
"The meetings are held every month and
Commissioners of Finance and other officials represent
their states and agreements are reached on issues
including the distribution of proceeds from the Account.
"There is no 30 billion dollars missing from the Excess
Crude Account as alleged by Governor Oshiomhole," it
added.