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Minister denies missing ECA money

07 November 2013, 14:36

Abuja - The Coordinating Minister for the Economy (CME) and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has dismissed reports that $1.03 billion is missing from the Excess Crude Account (ECA).

The Minister in a press statement on Wednesday described the reports as totally inaccurate.

The release signed by the Special Adviser to the minister on Media, Paul Nwabuikwu, said  the reports were not the true reflection of what the minister said.

According to the statement, “Such reports are a misrepresentation of what actually transpired during the appearance of Okonjo-Iweala before an open hearing of the joint Finance Committees of the Senate and House.

“The minister had responded forthrightly to questions on the current level of the ECA and there was no disagreement as such,” the statement said, insisting that “the balance in the account as stated by the minister is $4.3 billion.”

It cautioned the media to report accurately and enjoined journalists to seek information and clarification when in doubt rather than go to town with sensational headlines.


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