Daily Trust (Abuja)

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.

Ads by Google

Copyright © 2013 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

InFocus

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 »