$5bn missing from Excess Crude Account – Amaechi

$5bn missing from Excess Crude Account
– Amaechi
on november 17, 2013 at 12:55 am in news
By Soni Daniel, Regional Editor, North
Chairman of the Nigeria Governors’ Forum (NGF),
Mr. Chibuike Amaechi, is alleging the disappearance
of $5 billion from the Excess Crude Account and
asked for explanations from relevant government
agencies.
The Rivers State governor spoke at a retreat
organised by the NGF at Giginya Hotel, Sokoto and
attended by many governors.
Besides about 15 governors present at the retreat,
the speaker of the House of Representatives, Aminu
Tambuwal, National Chairman of the breakaway
faction of the Peoples Democratic Party (PDP), aka
nPDP, Alhaji Abubakar Kawu Baraje, former Kwara
State governor, Dr Bukola Saraki, Nobel laureate,
Prof Wole  Soyinka, and former Chief Justice of
Nigeria, Mohammed Uwais, also attended and
spoke at the event hosted by the Sokoto State
governor, Alhaji Aliyu Wamakko.
*Governor, Rotimi Amaechi
The governor asked Nigerians to rise up and ask
questions on how the nations resources are being
managed by the NNPC and the Finance Ministry in a
bid to prevent the a Federal Government from short
changing the other tiers of government in revenue
allocation.
Amaechi said it was shocking to discover that the
ECA, which had a balance of $9 billion in January,
had inexplicably dwindled to $4billion without
explanation by the Federal Government.
The NGF chairman said, “The Excess Crude
Account in January was N9billion. That account
belongs to the federal, states and local
governments. Today it is N4billion. We don’t know
who took the N5billion.
“Nigerians need to ask where the money has gone
and why their money is being used as private
funds.”
Amaechi chided 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.
According to the governor, the ADB and the state
government had already signed the appropriate
documents for the loan only for Okonjo-Iweala to
develop cold feet.
He said, “The ADB and Rivers government met and
negotiated and they agreed to give us a loan of
$200 million to improve water supply in the state.
“We have all signed our own side of the loan
agreement but the Finance Minister, who is highly
recognised globally, has refused to sign the
document to enable us to draw down the loan to
provide water for the people of Rivers State on the
allegation that Amaechi has some political
disagreement with 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.
Tambuwal said that the enormous powers vested
on the Federal Government under the presidential
system has turned the country into a unitary
system, thereby deleting the essence of federalism.
“Nigerian’s federalism is peculiar as no other
presidential system in the world has practised the
type that is being run by Nigeria. It is unfortunate
that the basic tenets of federalism, which we copied
from the United States, are not being implemented
in Nigeria.”
He said the centre should give certain functions to
the states and local governments as is the case in
the presidential system operated by many
countries around the world.
Also speaking, Ekiti State Governor, Dr. Kayode
Fayemi, said the unitary system of government in
Nigeria had robbed Nigerians of their creativity and
innovations and called for a change of the system
so as to deepen democracy and good governance.
Governor Babatunde Fashola of Lagos State called
for a system of government that promotes good
governance, merit and competition and eliminate
corruption and underdevelopment.
The host governor, Wamakko, explained that the
meeting was to examine the myriad of challenges
facing the nation and to explore solutions to them in
the interest of the people.
Wamakko said that it was time for Nigerians to
move above political sentiments and face the real
challenges facing the nation.
Meanwhile, the governors demanded an urgent end
to the opaqueness in the operations of the nation’s
oil industry to give room for more transparency in
the sector.
The demand is contained in the communique issued
by the governors at the end of the retreat.
In the communique signed by Amaechi, the NGF
Chairman, the governors noted with dismay the
continued conduct of the operations of the NNPC in
darkness and the loss of huge revenue by states.
They also asked Nigerians to eschew docility in the
face of mounting impunity and demand and better
accountability and responsibility from their leaders.
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.
Other governors present at the retreat were those
of  Zamfara, Nasarawa, Adamawa, Borno, Niger,
Jigawa, Osun, Oyo, Kano and Kwara.