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Wednesday, May 20, 2015

Nigeria: NGF Asks Okonjo-Iweala to Account for U.S.$20 Billion Oil Revenue

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The meeting, which was held behind closed door at Transcorp Hotel, Abuja, had in attendance governors from both the Rivers State governor Rotimi Amaechi-led faction and that of Plateau State governor Jonah Jang.
Reading the communiqué of the meeting to journalists at Transcorp Hilton, Hotel, Abuja, venue of the meeting, the chairman of the forum, Amaechi noted that, "In light of the fact that funds in the Excess Crude were disbursed in May 2013, there is need for the minister of Finance and coordinating minister of the Economy, Dr. Ngozi Okonjo- Iweala to provide explanation for accruals to this account from June 2013 to April 2015 which is estimated at over $ 20 billion."
The governor, who also disclosed that crisis within the forum is now over, stated that, "We are hereby reconciled and reunited as a single umbrella association of the 36 State governors of Nigeria regardless of party or region.
"Forum congratulates the President-elect, Muhammadu Buhari on his victory in the recent presidential election which was held on March 28, 2015 and President Goodluck Jonathan for his statesmanship in accepting the outcome of the elections". 
Meanwhile, Zamfara State governor Abdulaziz Yari emerged chairman of the forum at the meeting, thereby symbolising the end of a hitherto divided forum. Yari, who was deputy chairman of the forum, emerged chairman by consensus, following the expiration of the tenure of Amaechi.
Okonjo-Iweala To Govs: Ask Your Finance Commissioner about Excess Crude Balance
Responding to the governors, Okonjo-Iweala said they should ask their finance commissioners about the balance in the ECA, saying that the matter is publicly discussed during the monthly federal accounts allocation committee meetings of which all the states' finance commissioners are members.
Source:  Chibuzo Ukaibe,

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