Dr. Ngozi Okonjo Iweala, Nigeria’s former minister of finance said on Tuesday night that the $2 billion she was alleged to have withdrawn from Excess Crude Account without authorisation was used to pay for fuel subsidy on the instruction of former President Goodluck Jonathan.

She however said the issue was discussed at the Federation Accounts Allocation Committee (FAAC), a statutory body which is chaired by the Minister of State for Finance in which all the states are represented. Continue Reading