28 January 2013

Nigeria: FG Hits Back At Ezekwesili Over Oil Revenue Savings

The Presidency has accused former World Bank Vice President for Africa, Dr. Oby Ezekwesili for "lying shamelessly"  over the spending of the ... ( Resource: Ezekwesili Lied Shamelessly - Doyin Okupe

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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