You Wasted N458 Billion As Minister, FG Replies Ezekwesili Reviewed by Momizat on . The Federal Government on Sunday accused former minister of education and former World Bank group for Africa vice president, Obiageli Ezekwesili, of misappropri The Federal Government on Sunday accused former minister of education and former World Bank group for Africa vice president, Obiageli Ezekwesili, of misappropri Rating:
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You Wasted N458 Billion As Minister, FG Replies Ezekwesili

The Federal Government on Sunday accused former minister of education and former World Bank group for Africa vice president, Obiageli Ezekwesili, of misappropriating a total of N458 billion allocated to the country’s educational sector when she served as minister between 2006 and 2007.

Former minister of education and former World Bank group for Africa vice president, Obiageli Ezekwesili

The government also described as factually incorrect Mrs Ezekwesili’s claim that late President Umar Musa Yar’adua and President Goodluck Jonathan squandered $67 billion in reserves, comprising $45 billion in the external reserves and $22 billion in the Excess Crude Account left by former President Olusegun Obasanjo at the end of May 2007.

The Minister of Information, Labaran Maku, who spoke on the behalf of the Federal Government, argued that Mrs Ezekwesili’s made no single reference of what she did during her stay in office in such sectors.

The Minister said, “We also found Mrs Ezekwesili’s interrogation of the educational system somewhat disingenuous and borderline hypocritical. During her tenure as minister of education between 2006 and 2007, she collected a total of N352.3 billion from direct budgetary releases.

“In addition, she received about N65.8 billion under the Universal Basic Education Commission (UBEC) fund, and over N40 billion from the Education Trust Fund (ETF). In view of these humongous allocations, a few legitimate questions arise: what did she do with all these allocations? What impact did it have on the education sector? One wonders if our educational system would have been better today if these allocations were properly applied.”

Mr Maku further alleged that Mrs Ezekwesili’s alleged claims during UNN’s convocation ceremony on January 24, 2013 “betray a surprisingly limited understanding of government finances.”

He said, “These statements are even more curious in the light of the fact that she has held senior positions in government, and, more recently, a position as a vice president of the World Bank. However, rather than speculate about her motives, we would focus on the facts.”

Mr Maku further stated that the government did not intend to take her to court “but we will only explain and leave her in the court of public judgement.”

Clarifying the allegation of misappropriation of fund by late President Yar’Adua and President Jonathan, Mr Maku said, “At the end of May 2007, Nigeria’s gross reserves stood at $43.13 billion – comprising the CBN’s external reserves of $31.5 billion, $9.43 billion in the Excess Crude Account and $2.18 billion in the federal government’s savings. These figures can be independently verified from the CBN’s records. The figure of $67 billion alleged in her statement is therefore clearly fictitious.

“However, since President Obasanjo left office, the reserves have experienced fluctuations, rising from $43.13 billion in May 2007, peaking at $62 billion in September 2008 during the Yar’Adua/Jonathan administration when oil prices peaked at $147 per barrel, and falling subsequently to a low of $31.7 in September 2011.

“This fall in reserves was a result of the vicissitudes of the global financial crisis which caused CBN interventions in the currency market to defend the value of the naira. The Excess Crude savings, a component of the reserves, was also used to stimulate the economy at the height of the global financial crisis to the tune of about $1 billion (or 0.5 percent of our 2009 GDP).”

This move, he said, ensured that Nigeria was one of the few countries in the world that did not seek assistance from international financial institutions. He also remarked that the fiscal stimulus used to shore up the economy during that period was shared by all three tiers of government, including commitments of about $5.5 billion made under the Obasanjo administration for power projects.

“No one disputes that Nigeria still faces challenges, most of which were built up over a long time,” the minister further stated, “but we need to acknowledge the significant achievements of this administration in the aftermath of difficult but necessary macroeconomic and structural reforms being implemented in the country.

The minister went on to name some the achievements of the Jonathan government on the economic front, some of which have attracted international recognition.

“This administration,” he said, “has restored macroeconomic stability against the backdrop of global economic uncertainty, slow growth in the United States and high unemployment and unsustainable debt in Europe. In the first three quarters of 2012, Nigeria’s economy grew by about 6.4 percent and is set to continue at a similar pace in 2013 according to independent forecasts. We have reduced our fiscal deficit to only 2.17 percent of GDP in the 2013 budget, while rebalancing our spending in favour of capital expenditure.

“These achievements have already received strong endorsement from international ratings agencies. At a time when many advanced and emerging markets are being downgraded, Fitch and S&P have upgraded our sovereign credit ratings. The inclusion of Nigeria’s sovereign bonds in the emerging market bond indices of JP Morgan and Barclays also testifies to the growing confidence of the international investment community in our economy.”

Mr Maku also listed commencement of rail transport from Lagos to Kano, improved electricity supply, rehabilitation of road and aviation infrastructure and improvement in agriculture value-chain, where new jobs are being created every day, in addition to providing enabling environment for the private sector to create jobs for the youth as some of the good work done by President Jonathan.

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  • http://www.facebook.com/MoneyCometh2MeNow Joseph Okpanachi

    Oga Minister stop ridiculing President Jonathan’s government.Why would u bring up Mrs Ezekwesili’s alleged misappropriation just after she accused your government and the immediate past government of gross wastage and misappropriation?You sound so childish.State what you know about what your government did with the money and just shut up and let the public judge

    • http://www.facebook.com/people/Anthony-Itedjere-Turkinson/100000770573499 Anthony Itedjere Turkinson

      Mr. Joseph, help me ask this useless and senseless spokesman…see how they are ridiculing Nigeria….they are all armed robbers

      • Great Forms

         Sir, please withdraw the “useless & senseless spokesman”. It is unbecoming of a gentleman.
        Would you like to be abused that way for defending your government. We should be more objective than abusive. @facebook-100000812983761:disqus  Joseph clearly stated his position without casting slur on the Hon. Minister. To save your time, i am neither related to the minister, nor a contractor, civil servant etc. Just a humane Nigerian.

    • http://pulse.yahoo.com/_HGK6DYCVFNH3PAV4CUXU3R357I sola

      nd despite the saying of the Minister that Mrs. EZEKWESILI was given huge amounts when she was a minister for education which did not reflect positively in the edcationa sector to justify the money given, she will not be prosecuted. What a fight against corruption!!! 

    • Chike Oshi

      @Joseph: Thanks for bring this up. Just what is this supposed to mean? So when one points out an error of the Govt, they now fish out one thing and make a slur on the person. Truly childish of the Minister.

  • http://www.facebook.com/people/Anthony-Itedjere-Turkinson/100000770573499 Anthony Itedjere Turkinson

    Nigeria is in trouble, if Mr. Maku is sure of his allegations, why not send EFCC after her to investigate this. who will save us from this murderers, thieves and blood suckers. A whooping 67 billion dollars, some countries are looking for half this amount to stabilize. Make una remember hell fire o…Jonathan, why not get rid of all these thieves, Mr. Maku and Doyin Okupe includedm

  • http://www.facebook.com/clement.okpo Clement Ottah Okpo

    In the light of truth,l really don`t get what the Hon.minister of information is trying to buttress by saying the government wouldn`t take Mrs Ezekwesili to court after bringing to light all the figures,how then do you what to fight corruption?
    Again why are you publishing all these informations after the former challenged the government via twitter?Hope this in not just a social media dice.

  • http://www.facebook.com/jemes.emmanuel Jemes Emmanuel

    she whant compasation with goverment

  • Tunde Faro

    Maku should be prosecuted for bringing this allegations now. Why was he silent over this until now? We now know the enemies of Nigeria.

  • Olashy

     ”Mr Maku further stated that the government did not intend to take her to court “but we will only explain and leave her in the court of public judgement.”
    What a statement from corrupt minister! This statement clearly says Mrs Ezekwensili is innocent of all your accusations. How can you see a thief in civilized democratic government and you allow her in the public judgement??? I wonder what these people are calling us behind closed doors. God help Nigerians….i mean common Nigerians.

  • http://www.facebook.com/ciwums Iwuamadi Obioma C

    Imagine this “Mr Maku further stated that the government did not intend to take her
    to court “but we will only explain and leave her in the court of public
    judgement.” Bunch of thieves, why can’t the government sue her for the allegation if it is not factual. Why did the government not publicize her “inadequacy in education sector”. Both the accused and accuser are same.

  • onuigbo

    Maku is a barking dog. Who introduced Due Process in governance in Nigeria?  What of  Mining ? What of abolishing the so called Unity Schools? Mr. Maku and his government are in amnesia attacking Ezekwesli.

  • Nelnoma

    Why is that the government only remembered that Mrs. Ezekwesili, got so much in in allocations and did not with it, after the fact. why did nobody raise this issue before now, why now that the lady is accusing the Fed. government of misappropriation, all of a sudden it now done on our Goverment that oh she accually got so much and did nothing with it. Shame!!!!!!!!!!

  • nawao

    NIGERIAN GOVERNMENT IS SIMPLY A MAIN MARKET IN ANY NIGERIAN CITY:

  • http://profile.yahoo.com/2J5WUZO5FCUYBT2WEJH7XI4U3I Jennifer

    Maku or ku soon is sensless. This is also confirmed by the Senate President.

  • http://www.facebook.com/chekwube.okonkwo.5 Chekwube Okonkwo

    i think the minister is trying to let d public understand that not only them are thiefs,.this is wt use to happen when armed group are being caught

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