Oshiomhole Claims Nigeria Is Almost Bankrupt Because Of Okonjo-Iweala

Governor of Edo State, Comrade Adams Oshiomhole, had always been displeased with the former Minister of Finance and Coordinating Minister of the Economy, Dr Ngozi Okonjo-Iweala, administration.

He described the situation as mismanagement of the economy under the watch of Okonjo-Iweala. The governor started echoing the economic crunch in the country since early last year when he predicted that the way the Excess Crude Account (ECA) and other oil revenue funds were being managed by the then PDP-led Federal Government of former President Goodluck Jonathan will have dire consequences for the economy in future.

He accused Okonjo-Iweala of spending $2.1billion from the ECA without authorization. But, she protested, describing Oshiomhole’s allegation as political witch hunt, saying it will fail. According to her, she started publishing monthly updates of allocations to different tiers of government in order to inform Nigerians on government revenues and expenditure. This was an attempt to prove her innocence.

She insisted that the claim that she spent the said money without approval was not credible at all, given that, details of government receipts and expenditure were public knowledge. But Oshiomhole, a member of the National Economic Council (NEC) set up recently by President Muhammadu Buhari, accused the former minister of being economical with the truth and toying with figures.

He further claims that the poor state of the economy inherited by President Buhari is partly due to the said mismanagement.

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