In the Nigerian news this morning:
The National Economic Council, chaired by Vice-President Yemi Osinbajo, on Monday accused a former Minister of Finance and Coordinating Minister of the Economy under ex-President Goodluck Jonathan, Dr. Ngozi Okonjo-Iweala, of spending $2.1bn from the Excess Crude Account without authorisation.
The body claims, “We looked at the numbers for the Excess Crude Account. The last time the former Minister of Finance and Coordinating Minister of the Economy, Mrs Ngozi Okonjo-Iweala, reported to the council, and it is in the minutes, she reported by November 2014 that we had $4.1 bn. “Today, the Accountant-General Office reported we have $2.0bn. Which means the honourable minister spent $2.1bn without authority of the NEC and that money was not distributed to states, it was not paid to the three tiers of government,” Edo State Governor Adams Oshiomhole told State House correspondents after the NEC’s 58th meeting in Abuja.
The ‘unauthorised’ spending, according to the economic council, is among the several anomalies discovered in the management of the nation’s economy between 2012 and May 2015.
Gobe is brewing. This should be interesting.
Nigerians are not taking the piss, however. They claim, “Don’t be too hasty. We’ve been through this route before: IBB stole, OBJ stole, yet nobody took steps to recover the funds and prosecute them. Giving hints to looters that you are going to probe them is not wisdom. Rather move swiftly, garner all your evidences and nail them without prior warning. When you pre-warn, you give looters opportunity to cover their tracks. This government should talk less but take action”.
I’m just waiting to see the end of this one.