Former Minister of Education and vice-president of World Bank, Mrs Oby Ezekwesili, has faulted the claim by the former Minister/Deputy Chairman of the National Planning Commission (NPC), Abubakar Suleiman, that President Goodluck Jonathan administration left behind $30billion contrary to the claims by President Muhammadu Buhari s that he inherited an empty treasury.
-
Obiageli Ezekwesili Youtube
However, in clarification, Dr Ezekwesili stated via Twitter on Wednesday, June 24, that the ‘$30Billion CBN reserve is no longer available’ to the Federal Government because it had already been collected and spent as Naira.
She said, “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?”
“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.”
“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.”
“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.”
“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.”
Meanwhile, Buhari has said that the US and other countries have offered to help Nigeria recover funds looted by government officials.pulse
