Where Have $5bn Disappeared From Excess Crude Account? – Amaechi

Chairman of the Nigeria Governors’ Forum (NGF), Mr. Chibuike Amaechi, is alleging the disappearance of $5 billion from the Excess Crude Account and demands explanations from the responsible government agencies.

1602f18-rotimi-amaechiThe Rivers State governor spoke at a retreat organized by the NGF at Giginya Hotel, Sokoto and attended by many governors.

Amaechi urged Nigerians to rise up and ask questions on how the nations resources are being managed by the NNPC and the Finance Ministry.

The governor says he was shocked when he discovered that the ECA, which had a balance of $9 billion in January, had inexplicably dwindled to $4billion without explanation by the Federal Government.

“Nigerians need to ask where the money has gone and why their money is being used as private funds.” Amaechi blasted the Finance Minister, Dr Ngozi Okonjo-Iweala, for refusing to sign a loan agreement with the African Development Bank to free $200 million for the provision of water in Rivers State because of alleged disagreement between him and the President.

Speaker of the House of Representatives, Tambuwal, lamented the imbalance inherent in the Nigerian presidential system, which has given too much powers to the centre at the expense of other tiers of government and weakened democracy and good governance.

In his opinion, the centre should give particular functions to the states and local governments as is the case in the presidential system operated by many countries around the world.

Commenting on the current situation, Ekiti State Governor, Dr. Kayode Fayemi, said the unitary system of government in Nigeria had robbed Nigerians of their creativity and innovations. He stated the importance of change in the system to strengthen the democracy principles.

Meanwhile, the governors demanded to make operation in the oil industry more transparent.

The demand is contained in the communique, signed by Amaechi and issued by the governors at the end of the retreat.

The state CEOs reiterated their demand for state police as guaranteed under a federal system of government in order to strengthen security in the country.

1 Comment

  • Ammaechi, where is the $10m you took from Rivers State treasure to buy the Bombardier you hired from Utah consotium.
    Where did you get the billions of dollars you used to establish by proxy a second schl,a cement factory,a petrolleum refining company in Ghana? The hotel in Brazil owned by proxy, where did you get the money ? The civil servants money you have removed from their salary by force,where is it? You have over 6 yrs embezelled chrismas bonus of worker given by oil companies. Please Rivers people are demanding for answers.

Leave a Reply

Your email address will not be published. Required fields are marked *