Missing $700bn SWF: Hold Jonathan, Okonjo-Iweala responsible – Oshiomole

Edo State Governor has insisted former president Goodluck Jonathan and his erstwhile Minister of Finance, Dr. Okonjo Iweala have a case to answer as to the whereabouts of the $700 billion withdrawn from the $1 billion belonging to the Sovereign Wealth Funds, SWF.

Oshiomole who is chairman, National Economic Council Adhoc committee on the management of excess crude and related federation account issue while speaking with State House Correspondents in Abuja after a private meeting with Vice President, Yemi Osinbajo at the presidential villa on Thursday night stated that there was no truth in the defence put up by the former minister that the money was used to finance the second Niger bridge and partially in Kaduna-Abuja rail.

It will be recalled that NEC after its meeting on Thursday reported that the subcommittee which also had the Gombe State Governor, Alhaji Ibrahim Dankwambo; Kaduna State Governor, Mallam El Rufai; Akwa Ibom State Governor, Mr. Emmanuel Udom and Lagos State Governor, Mr. Akinwunmi Ambode discovered that most government revenue generating agencies like the Nigerian National Petroleum Corporation, NNPC were reckless in their financial management under the previous administration.

Speaking further, Oshiomile stated that the inquiries into the financial dealings of the past government should not be mistaken to be personal but to reestablish the culture of transparency and accountability in public office.

The governor who said that admittance of the depleted SWF account was done in the open also threatened to publish the report should there be any denial by those involved in the issue.

“When I reported to the media that the Sovereign Wealth people in their report told us, which I have in black and white, clearly that they have only $300 million left in the Sovereign Wealth Fund account.

“We have it in black and white and I can publish it if anybody wants to deny that because it was not submitted to me secretly. It was submitted at plenary of the committee.

“And then we asked, because I knew that the fund was $1 billion, what was done with $700 million. And they said they have made some investments.

“We asked them what they invested in and they said the second Niger bridge and partially in Kaduna-Abuja rail. That is what they said and I was not alone there.

“We were about five governors and it was a full plenary. But we know that the Kaduna-Abuja rail was funded with Chinese loan, which even Mrs. Okonjo-Iweala spoke about, when they said the loan from China was not used for Lagos, she said it was for Kaduna-Abuja.

“You, media, need to develop your own library and have your record so that when people speak from both sides of their mouths, you can replay back. Because sometimes it hurts me when political leaders and technocrats say one thing in the morning and they change the language the following day.

“Don’t make me the issue. I’m not. The only difference is that there is beauty in standing by the truth. And ultimately, it will set you free”, Oshiomole explained.