The former Minister of Education, Oby Ezekwesili disagrees with the immediate past Minister/Deputy Chairman, National Planning Commission (NPC), Abubakar Sulaiman on his claims that former President Jonathan left $30 billion in the national treasury.
She took to her twitter handle to share her thoughts stating that the $30Billion CBN Reserve is no longer available to the Federal Government because it already collected and spent it as Naira.
See the embedded tweets below;
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?
— Oby Ezekwesili (@obyezeks) June 24, 2015
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.
— Oby Ezekwesili (@obyezeks) June 24, 2015
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.
— Oby Ezekwesili (@obyezeks) June 24, 2015
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.
— Oby Ezekwesili (@obyezeks) June 24, 2015
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.
— Oby Ezekwesili (@obyezeks) June 24, 2015
ZING!
