Daily Trust (Abuja)

Nigeria: FG Hits Back At Ezekwesili Over Oil Revenue Savings

Photo: Wikimedia
Obiageli Katryn Ezekwesili, Former World Bank Vice-President

The Federal Government yesterday described as false recent comments by former education minister Obiageli Ezekwesili over government finances.

Oby Ezekwesili claimed last week that the administrations of Presidents Musa Yar'adua and Goodluck Jonathan have squandered $67 billion in reserves left by the Olusegun Obasanjo administration at the end of May 2007.

Briefing newsmen on the issue yesterday, Information Minister Labaran Maku, said the comment by Ezekwesili was incorrect.

"The statement is factually incorrect. At the end of May 2007, Nigeria's gross reserves stood at $43.13 billion - comprising the CBN's external reserves of $31.5 billion, $9.43 billion in the Excess Crude Account, and $2.18 billion in the Federal Government's savings.

"These figures can be independently verified from the CBN's records. The figure of $67 billion alleged in her statement is therefore clearly fictitious," he said.

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  • olapadeagoro2002
    Jan 29 2013, 04:19

    FG WASTAGE OF US$ 67 BILLION FOREIGN RESERVE - LABARAN MAKU’S PIGHEADED ATTACK OF OBY EZEKWESILI’S RESPONSIBLE EXPOSITION Mr. Labaran Maku, Federal Minister of information false start, jump off the block before the gun booms reckless attack on Dr. Oby Ezekwesili nationalistic exposition of the Yar’Adua, Jonathan led administration wastage of US $67 billion foreign exchange reserve must be seen an unexpected inglorious justification of corruption. Labaran Maku’s shouting at the roof top of insensitivity was no doubt a bully tactic to shift focus from the real issue of billowing corruption pervading the nation, past thirteen years of PDP misrule and political class gargantuan and irresponsible stealing from the purse. It hurts to say that it is only in a nation with missing nationalistic commitment and decorum like Nigeria, that what however the containment of exposition of the globally respected Mrs Oby Ezekwesili was, would be subject matter of tantrum throwing than subjection to core value observation. Altruistically a government of human benefitting real value carriage would have taken the pain to reply Oby Ezekwesili anecdotes with convincing facts and details particularly on her quotes that “Nigerians had lost dignity because of ravaging poverty arising from poor choices of the elite, corruption and lack of investment in education” Although what Oby Ezekwesili said on the FG wastage of US$67 billion was nothing new to some of us in the society good news gathering, however what is not amiss and undeniable is the fact that Goodluck Jonathan is proving to be the grand father of corruption and ineptitude in Nigeria taking into consideration terrible cases of stealing from the Lagos port US$12 billion power generating equipments Obasanjo administration left behind, Jonathan’s government rending EFCC, ICPC and Nigeria Police unable to go after and prosecute the BIG thieves, his reckless spending of Naira 1 billion on feeding, Naira 7 billion budgeted on vice president’s new building, Naira 5 billion on ex- militants, keeping 11 air crafts in the presidential fleet, lying to the nation on what actually led her sending Mrs Patience Jonathan on medical missions to Germany at cost of over Naira 500 million to the nation et al. Until we have a nation peopled by those with courage bold enough in the spirit of the like of late Chief Gani Fawehinmi and of recent demonstrated by Dr. Oby Ezekwesili vehemently in the tone of democracy calling to question doubtful activities of our leaders and in particular those in government, our ship of state shall continue drifting aimlessly and with threatening tragicomedy in expectation. Dr. Olapade Agoro (Aladura Patriarch) Owa’Tapa of Itapa Ijesa land, National Chairman/ former Presidential Candidate, National Action Council (NAC) PS: Please take note that National Action Council (NAC) is not one of those “former political parties” but still a living entity with pending Case NO: CA/L/621/11 AGORO VS INEC before Court of Appeal Lagos

  • Dr. Peter Ejirika, CPA, Ex-Vice President of Finance, Grambling State Un
    Jan 29 2013, 12:30

    Dr. Ezekwesili in her commencement speech is not accusing the federal government of any wrong doing or of any impropriety rather she is suggesting that the Lesgislative branch of the government should hire the services of an accounting firm from Britain or the United States to audit the books of the federal government relevant to the Fedral Reserves for the period in question.

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Controversy Over Nigeria's Reserves

The Presidency has refused to join the former World Bank Vice President for Africa, Oby Ezekwesili, in a national debate over the spending of the foreign reserves funds, accusing ... Read more »