Business
Okonjo-Iweala replies Oshiomhole, El-Rufai; denies spending oil money without approval
The allegation by some governors that a former Minister of Finance, Ngozi Okonjo-Iweala, spent $2.1 billion out of the Excess Crude Account “without authorization” is false, malicious and totally without foundation, the minister’s spokesperson said Tuesday.
The governors of Edo State, Adams Oshiomhole; Kaduna, Nasir El-Rufai, had said that the National Economic Council, at a meeting on Monday, found that $2.1 billion of the Excess Crude Account was spent without the approval of the council.
The former minister said no unauthorized expenditure from the ECA was made under her watch in the Finance Ministry, and that decisions on such expenditure were discussed at meetings of the Federation Accounts Allocation Committee (FAAC) attended by finance commissioners from the 36 states.
“It is curious that in their desperation to use the esteemed National Economic Council for political and personal vendetta, the persons behind these allegations acted as if the constitutionally recognized FAAC, a potent expression of Nigeria’s fiscal federalism, does not exist,” a statement signed by the former minister’s spokesperson, Paul Nwabuikwu, said.
“But Nigerians know that collective revenues, allocations and expenditures of the three tiers of government are the concern of the monthly FAAC meetings.
“It is important to acknowledge the efforts of governors who are working hard to overcome the current revenue challenges facing their states without resorting to character assassination and blame games,” it said.
The former minister said she remained ready and willing to respond to legitimate enquiries about issues under her purview as Finance Minister.
“But it is clear that this is the latest chapter of a political witch-hunt by elements who are attempting to use the respected National Economic Council for ignoble purposes having failed abysmally in their previous attempts to tar the Okonjo-Iweala name.
“It will be recalled that one of such attempts took place in May when some of these governors, hiding under the auspices of the Nigerian Governors Forum asked Okonjo-Iweala to explain $20 billion alleged to be missing from the same ECA.
“The Finance Ministry subsequently issued a news release and published an advertorial in national newspapers on May 25, 2015 giving details of what the Federal Government and states received from the ECA in the last four years. It also provided details of the use of the funds for payment of petrol subsidies for the Nigerian public and SURE-P allocations to the three tiers for development purposes.
“After the publication, the accusers lost their voice. But the latest allegations show that these persons are still in the business of throwing up wild, unsubstantiated figures to damage Okonjo-Iweala’s name. For instance, within the last few months, Governor Oshiomhole and his fellow travelers have asked Okonjo-Iweala to account for “missing” $30 billion, $20 billion and now $2.1 billion. What they don’t seem to understand is that the strategy has lost all credibility because the falsehood is clear for all to see.
“How can some governors who fought FG’s efforts to leave robust savings in the ECA and even took the Federal Government to court over the matter turn around to make such unfounded allegations?
“The world knows that it was Okonjo-Iweala who pioneered, during her first stint as Minister of Finance in the Obasanjo administration, the practice of publishing monthly updates of all allocations to different tiers of government in order to empower Nigerians with information and knowledge of government revenues and expenditure. This enabled the Nigerian public to ask questions about the utilization of these resources. Of course many elected and appointed public officials were not happy with this development.
“She continued this practice when she returned in 2011 and even added periodic updates on the Excess Crude Account, subsidy payments for verified claims by oil marketers for fuel imports as well as SURE-P payments to the three tiers of government.
“Against this background, the idea that she spent $2.1 billion “without authorization” is simply not credible given that details of government receipts and expenditure are public knowledge.
“We believe that Nigerians are too smart to be hoodwinked by this partisan desperation to tar the name of Okonjo-Iweala.
“In the interest of the country, we advise that public officials should avoid the temptation to politicize economic issues so that balanced analysis can lead to real solutions.”
Business
Adron Homes Unveils Sallah Mega Promo with 30% Discount and Exciting Gift Rewards for Subscribers
Adron Homes Unveils Sallah Mega Promo with 30% Discount and Exciting Gift Rewards for Subscribers
As the festive spirit of Eid al-Adha (Sallah) approaches, Adron Homes & Properties, Nigeria’s leading real estate company, has announced a nationwide Sallah Mega Promo designed to reward subscribers with unbeatable discounts, flexible payment plans, and exciting gift items.
The limited-time promotional campaign aims to empower Nigerians to celebrate the season of sacrifice with both joy and long-term investment security by making property ownership more accessible and rewarding. Subscribers can enjoy a 30% discount on all plots across Adron estates nationwide, alongside a flexible payment plan of up to 36 months. In addition, clients can spread their initial deposit over four months, easing financial pressure while securing valuable real estate assets.
According to the company, the Sallah promo reflects its continued commitment to providing affordable housing solutions while rewarding both new and existing clients during key festive periods.
“Sallah is a time of giving, sacrifice, and celebration. At Adron Homes, we believe there is no better time to empower families and investors with the opportunity to own land while also receiving valuable gifts that enhance their celebration,” the company stated.
As part of the promo, subscribers will enjoy a wide range of gift rewards tied to their payment milestones. Platinum plot subscribers stand to receive items such as bags of rice ranging from 10kg to 50kg, food packs with chicken and seasoning, goats and rams for Sallah celebrations, and even a cow or a double-door refrigerator for high-value subscribers. Compact plot subscribers will also benefit from gift items including bags of rice, vegetable oil, cartons of noodles, goats, and other household essentials designed to support festive celebrations.
Over the years, Adron Homes & Properties has remained at the forefront of real estate development in Nigeria, consistently delivering affordable luxury and flexible payment structures tailored to a wide range of investors. The Sallah Mega Promo further reinforces the company’s mission to democratize property ownership while strengthening its relationship with clients through value-driven initiatives.
Prospective subscribers are encouraged to take advantage of this limited-time offer by contacting Adron Homes through its official channels.
📲 WhatsApp: +234 805 101 1951
🌐 Website: Adron Homes Official Website
With the Sallah season fast approaching, this promo presents a unique opportunity for Nigerians to celebrate meaningfully by securing their future through real estate investment while enjoying generous festive rewards.
*Please be careful, there’s a WhatsApp scam going around
Scammers are currently impersonating Aigboje Aig-Imoukhuede, the Chairman of Access Holdings Plc, to trick people into fake investment schemes.
They’ve created a WhatsApp group called *“Value Focus Club 60”* using this number: *+234 915 708 8290*, and even used his picture to make it look real.
*Important things to know*:
• The Chairman is NOT on WhatsApp running any investment group
• Access Holdings does NOT offer investment advice via WhatsApp
• Any message claiming otherwise is 100% fake
A whistleblower actually spotted this and raised the alarm, so please don’t ignore this.
*What you should do*:
• Don’t join the group or engage them
• Don’t share your personal or banking details
• Block and report the number on WhatsApp
• Let others know so they don’t fall victim
The company is already working to shut it down, but awareness is key.
Please share this with your contacts, someone you know could be targeted.
HOUSE OF BIMPE FIT GAINS ATTENTION WITH TRENDY UNISEX FASHION LINE
LAGOS — A fast-rising fashion brand, House of Bimpe Fit, is making waves in the style scene with its collection of modern, elegant outfits designed for both men and women.
The brand, which showcases a blend of contemporary and classic designs, is quickly attracting attention for its attention to detail and quality finishing. From sharply tailored men’s native wears and suits to chic, figure-flattering outfits for women, House of Bimpe Fit is positioning itself as a go-to destination for fashion lovers seeking both style and comfort.
Speaking on the brand’s vision, the management emphasized its commitment to delivering “quality outfits for both men and women,” ensuring customers step out with confidence and class regardless of the occasion.
Fashion enthusiasts have particularly praised the brand’s versatility, as it caters to a wide range of tastes—from corporate elegance to casual sophistication.
With an active presence on social media, especially on TikTok via @house_of_bimpefit, the brand is leveraging digital platforms to reach a broader audience and showcase its latest collections.
Industry watchers say House of Bimpe Fit is one to watch, as it continues to carve a niche for itself in Nigeria’s competitive fashion industry.
For inquiries, customers can contact the brand via phone at 0802 686 6277.
- Afreximbank and Government of St Kitts and Nevis Sign Hosting Agreement for AfriCaribbean Trade and Investment Forum (ACTIF2026) April 14, 2026
- African Energy Chamber: Africa Must ‘Refine, Baby Refine’ as Global Supply Disruptions Expose Need for Downstream Expansion April 14, 2026
- African Mining Week (AMW) to Link Investors to Africa’s Aluminium Prospects Amid Middle East Supply Disruptions April 14, 2026
- President Mahama to launch landmark Free Primary Health Care Programme April 14, 2026
- Eritrea: Effort to expand health care services April 14, 2026
- Arbaete-Asmara Sub-Zone Declared Free of Female Genital Mutilation April 14, 2026
- Senegal Rewrites the Rules of its Hydrocarbon Boom as Minister Birame Soulèye Diop Heads to African Energy Week 2026 in October April 13, 2026
- bp Bets Big on Namibia’s Deepwater Frontier with New Offshore Blocks April 13, 2026
- Merck Foundation declared Gabon First Lady as Ambassador of “More than a Mother” to build healthcare capacity, break infertility stigma, and support girl education April 13, 2026
- Changpeng Zhao (CZ) Releases Freedom of Money, a Memoir Reflecting on the Rise of Crypto and the Story Behind Binance April 13, 2026
- Afreximbank and Government of St Kitts and Nevis Sign Hosting Agreement for AfriCaribbean Trade and Investment Forum (ACTIF2026) April 14, 2026
- African Energy Chamber: Africa Must ‘Refine, Baby Refine’ as Global Supply Disruptions Expose Need for Downstream Expansion April 14, 2026
- African Mining Week (AMW) to Link Investors to Africa’s Aluminium Prospects Amid Middle East Supply Disruptions April 14, 2026
- President Mahama to launch landmark Free Primary Health Care Programme April 14, 2026
- Eritrea: Effort to expand health care services April 14, 2026
- Arbaete-Asmara Sub-Zone Declared Free of Female Genital Mutilation April 14, 2026
- Senegal Rewrites the Rules of its Hydrocarbon Boom as Minister Birame Soulèye Diop Heads to African Energy Week 2026 in October April 13, 2026
-
news4 months agoWHO REALLY OWNS MONIEPOINT? The $290 Million Deal That Sold Nigeria’s Top Fintech to Foreign Interests
-
celebrity radar - gossips3 months agoDr. Chris Okafor Returns with Power and Fire of the Spirit -Mounts Grace Nation Altar with Fresh Anointing and Restoration Grace on February 1, 2026
-
celebrity radar - gossips4 months agoProphet Kingsley Aitafo Releases 2026 Prophecy: ‘Nigeria Will Rise, but the World Must Prepare for Turbulence’
-
celebrity radar - gossips6 months agoEnd of an Era: Nigeria Mourns Evangelist Dr. Uma Ukpai, 80
You must be logged in to post a comment Login
You must log in to post a comment.