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Oshiomhole Asks Okonjo-Iweala: Where is the Money You Said Was Left in Excess Crude Account?



Adams Oshiomhole

The drama over missing money in the Excess Crude Account continues.

Earlier this week, former finance minister, Ngozi Okonjo-Iweala denied allegations leveled against her by governors of Edo State, Adams Oshiomhole; and Kaduna, Nasir El-Rufai, that she spent $2.1 billion from the excess crude account without authorization.

And now, Oshiomhole is publicly challenging Okonjo-Iweala, asking her the whereabouts of some money she allegedly claimed was left in the account.

According to Vanguard, Oshiomhole made the following remarks while speaking with Channels TV about the state of the economy:

“The decision to take money from the Excess Crude Account, if she had the power, the law should have been that power is vested in the National Economic Council, NEC. NEC is an institution created by the constitution.

What she was referring to is her own administrative arrangement. This $2 billion is the last sum, in her last report. She said we have $4.1 billion, she said so orally but it was captured in the minutes, only to come at the last minute to say oh ‘X’ is left.

If you ask her, what is it that she paid for on the strength of augmentation, that is to say, if they were augmenting, it means that even if there is a drop in price, they will take from the Excess Crude Account to make up the difference.

“If they were doing that, you wouldn’t have the kind of situation we are in today where revenue drops by about 45 percent. I think, with all due respect to Okonjo-Iweala, she knows how to play around, (I don’t want to say, lie) with statistics. I have made this point that she kept open only part of the pages and not the entire book.

The logic of transparency is that every minister must publish in full what is accruing to the Federation Account, month to month, and what is distributed to whom. What she has been publishing is what went to the Federal Government, each state government and local governments.

But she has never published simultaneously what accrued during the period, out of which this said sum was distributed so that you can get the net, what was distributed from all that was collected and see what is left in the excess crude. Now you can see her changing the goal post.

Okonjo-Iweala was a member of the National Economic Council. I was a member. I had asked her and I am on record as asking her, don’t give us verbal report on matters of Federation Account, give us written report.”


  1. Taipan

    July 2, 2015 at 11:39 am

    Shsh!! you people are clueless…playing blaming games, if you are not a thief as well why will you marry that Kind of fine Oyimbo pepper,, lol…osho! your eye no good

    • EllesarisEllendil

      July 2, 2015 at 3:41 pm

      Today I learned, Only thieves marry beautiful people. “Wise” words from Taipan.

    • Taipan

      July 2, 2015 at 4:52 pm

      Yes! oo, @ Ellasaris…. when they import prostitutes all over the world with stolen funds, is it not obvious is one of he’s imports??

    • Wale

      July 3, 2015 at 2:47 am

      More like…bitch better have our money-

  2. A Real Nigerian

    July 2, 2015 at 11:47 am

    Where is the money? I know where it is…
    It has been hoarded by the obnoxious and conniving criminal grandmother Ngozi, the clueless Otuoke Drunkard, the wayward and ignorant Patience Jonathan and Madueke the petty thief. The Four Frauds who were responsible for changing Nigeria’s already pitiful condition to a critical one.

    • Taipan

      July 2, 2015 at 1:47 pm

      @ A fake Nigerian, a drunkard ruled you for 6yrs thats y your head is full of ogogoro

    • Iyawokekere

      July 2, 2015 at 2:14 pm

      Whatever happened in your childhood to make you like this?

    • Iyawokekere

      July 2, 2015 at 4:46 pm

      Comment for Dirty NIgerian

  3. John

    July 2, 2015 at 11:47 am

    APC accuse along party line. FFK and Ngozi a thief but Amaechi, Sylvia, Atiku ,Tinubu are saints!!!! Pheww

    Ngozi i know will not dent her name. Adams is the one to be investigated as as well as other states who took her to court and she shared the excess crude to the states.

    Was Adams a toddler when the Governors too the Federal Govt to court for trying to to institute the Sovereign Wealth Fund?

    Adams please don’t insult our intelligence

    • nnenne

      July 3, 2015 at 1:46 am

      @John… Mr. Oshimole just got himself a trophy wife. What do you expect?
      He has to prove to her that he is very relevant!

  4. or

    July 2, 2015 at 11:49 am

    APC will blame every on but themselves!
    So Rauf Aregbesola was owing while he was climbing a tanker sharing money and campaigning for Buhari?

    • Y

      July 2, 2015 at 8:53 pm

      Remain blessed!

  5. bunmi

    July 2, 2015 at 11:55 am

    Dat woman na professional thief

  6. bruno FIERCE

    July 2, 2015 at 12:01 pm

    when criminals accuse other criminals of stealing money. #onlyinnigeria.

    • Lois

      July 3, 2015 at 9:27 am

      God or whatever you believe in bless you. Only in Nigeria does all these nonsense happen. People who ought to be tied to stakes and set on fire for the injustices that have meted on the populace will call-out another like them but who is not within their caucus

  7. NG

    July 2, 2015 at 12:17 pm

    There is need to have structured discuss on this matter as is appropriate for a sane civilised society that nigeria should be. Surely this is a good opportunity, not just for mere debate, but discussion towards clarity of positions.

    Mme Okonjo-Iweala should be concerned about her reputation and so seize a good opportunity to re-assert her intellectual/administrative etc competences that fetched her the trust of a government that left the co-ordination of a whole economy to her care. The media can also help to bring about a round table discussion for needed clarifications

  8. Beeeee

    July 2, 2015 at 12:20 pm

    APC cannot distract us with this one now o….. We are still waiting for the promised change. Like I said, all this back and forth isn’t helping anyone. If they are accusing NOI of stealing money, they should come out boldly and say it. I will not pay attention to any of these until we see evidence. It’s easy to accuse people, proving it is something else. If she moved the money into her personal accounts, I am sure it can be traced and America will know. ?? My question is, who is going to probe Oshiomole? I think the President should have picked neutral people to do this probe because Osho and El Rufai’s hands are not clean either. It’s beginning to look like a witch hunt. Are they going to also probe the time she spent in the OBJ administration? So many unanswered questions. Which is why all these should be let quiet until there is evidence of a crime.

  9. Mewe

    July 2, 2015 at 12:24 pm

    BellaNaija you can definitely do better! Why are you not also publishing NOIs response and documents she released. Why are you not reporting that NLC is threatening to go on strike for non payment of salaries in Edo state? Abeg stop being a propaganda tool… if you can’t be bothered to research, then keep reporting on fashion and Kim K.

    As usual, feel free to swallow this comment!

  10. Gistyinka Blog

    July 2, 2015 at 1:38 pm

    God Bless Nigeria..

  11. Thatgidigirl

    July 2, 2015 at 1:40 pm

    Talk about the bed sheet calling the pillow case white! Edo state is owing salaries, imagine civil servants going on strike when their governor is a comrade and he’s here pointing fingers at someone else. After using state funds to go and marry mammy water or baby water as the case may be. Osho put the fire in your house out pls and stop trying to distract the public from your issues.

    • charles

      July 2, 2015 at 5:23 pm

      Which Edo state is owing salaries? Avoid dropping comments without having “basic” infos @ your fingertips, to avoid making a fool of yourself on a public forum.


  12. Diddy

    July 2, 2015 at 1:42 pm

    shey na question be this?abi na slip of statement?what have u done with ur state allocation since your regime as a Governor

  13. Meh

    July 2, 2015 at 2:39 pm

    Let the blame game continue. Oshiomole should thread carefully though. It seems he knows something and does not want to say it outright. Say what you know or hold your peace.

  14. Chinedu E

    July 2, 2015 at 2:40 pm

    APC Govt, what of Gov Amaechi? Rauf,Rochas? ,All i see is blame game. get up and do the job , stop the blame game and get the job done

  15. Olivia

    July 2, 2015 at 3:28 pm

    Some persons that commented said the Ngozi they know will not do such a thing, let her give written report if she didn’t do anything with the money. But let me ask: do you really know ngozi.

    • NikiNiki

      July 2, 2015 at 4:52 pm

      Don’t worry, in four years The Daura Dullard will also be a thief.

  16. EllesarisEllendil

    July 2, 2015 at 3:44 pm

    This is getting tiresome, if she’s wanted for questioning, extend a formal invitation. Did the FBI point fingers at FIFA?

  17. omob

    July 2, 2015 at 4:02 pm

    if you ask me na you i go ask

  18. kelly

    July 2, 2015 at 5:31 pm

    lol.., kettle calling pot black.. he should please dive inside his party kmt.. a party that is full of an abundance of crooks.

  19. Akin Jegede

    July 2, 2015 at 6:55 pm

    i can say confidently that those attacking Okonjo-Iweala are educated illiterates who should go back to the university and learn how a nation’s finances should be properly guarded as done by Okonjo-Iweala. She is a gift to this country.

  20. Someone Naughty

    July 2, 2015 at 8:29 pm

    APC abeg finish your investigations and come out a report. Stop releasing trickles of your discoveries to make it look like you’re getting work done.
    Write your report and publish it in one fell swoop, let me see what time the guilty parties will have to cover their asses.

  21. Celeste

    July 2, 2015 at 10:45 pm

    Adams Oshiomhole and APC asking for money to steal what’s left in the coffers. See thieves calling another thieves. During the campaign, you people (APC) already said our treasury is empty, so you knew the situation and promised us magic (change). Stop complaining and get to work!

    • nnenne

      July 3, 2015 at 1:59 am

      Oil or no oil we must survive. We have. the human resources, land, sea and nice weather.
      Be creative APC. Hire wisely! No excuses!

  22. fleur

    July 3, 2015 at 3:36 am

    Oh shush. How did you have enough money to change your khaki pants and attract that woman? Was it just your salary? Abeg make we hear word, Pot calling kettle black.

  23. Osho for Sho

    July 3, 2015 at 11:29 am

    Osho baba! Koto o! See as you dey fine more and more…..”chopping betta” and looking fairer. Make you greet Iara abi na Lara for us.

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