A former Education Minister and retired Vice President of the World Bank, Dr. Oby Ezekwesili, has reacted to claims by the immediate past Minister for National Planning, Dr. Abubakar Suleiman that former President Goodluck Jonathan left $30 billion in the nation’s treasury.
The former minister had while reacting to the revelation by President Muhammadu Buhari that he inherited “virtually an empty treasury” from the previous administration, described the allegation as “unscientific and unfair,” because ex-President Jonathan “left behind close to $30 billion”.
Mrs. Ezekwesili, who waded into the raging controversy in a series of tweets, said the “$30Billion CBN Reserve IS NO LONGER AVAILABLE to FG cos it ALREADY collected & SPENT it as Naira”.
It is the BALANCE of whatever Oil Revenue Dollars, FG did not "sell" to CBN to get Naira that it SAVES as ECA and right now it is $2B only.
— Oby Ezekwesili (@obyezeks) June 24, 2015
When FG earns Oil Revenue Dollars it MAY NOT immediately hand over EVERYTHING to CBN to give FG Naira value. Such Balance is SAVINGS-ECA.
— Oby Ezekwesili (@obyezeks) June 24, 2015
The $30 Billion is CBN's Dollar Reserves and should FG ever ask for any part of it again, it will result in double dipping &PRINTING MONEY.
— Oby Ezekwesili (@obyezeks) June 24, 2015
FG earns Oil Revenue Dollars but spends in Naira. So it hands the dollars it earns to its Banker- CBN which then gives FG Naira for BUDGETS.
— Oby Ezekwesili (@obyezeks) June 24, 2015
Who's this ex-Minister that doesn't know $30Billion CBN Reserve IS NO LONGER AVAILABLE to FG cos it ALREADY collected & SPENT it as Naira?
— Oby Ezekwesili (@obyezeks) June 24, 2015
