ECA: Jonathan approved $2.1b withdrawal, says Okonjo-Iweala

Former President Goodluck Jonathan approved the withdrawal of $2billion from the Excess Crude Account (ECA), Dr. Ngozi Okonjo-Iweala, has said.

In a statement endorsed yesterday by her Media Adviser, Paul Nwabuikwu, Mrs. Okonjo-Iweala, said the payments were used to pay for petroleum subsidies.

The statement read said: “For the avoidance of doubt, at no time did Dr. Okonjo-Iweala say that FAAC approved such expenditures. What she said was that all these expenditures were discussed at FAAC meetings attended by Finance Commissioners from the 36 states. It is therefore clear that there was no misrepresentation by Dr. Okonjo-Iweala.

“If monies were used to pay for subsidies for the Nigerian people and duly approved, why is Okonjo-Iweala’s name being battered in this way?”

He argued that there was no question of mismanaging any resources here.