Ngozi Okonjo-Iweala Is A Global Star and Only Came Back to Serve Her Country : Mr Peter Obi

As Controversy continues to trail the previous administration handling of the ECA Account, the Former Anambra State Governor, Mr Peter Obi has come out to categorically deny the insinuation that the fund was shared without the approval of the NEC.

"Let me clarify it properly. There was never a time the NEC, Governor’s Forum or any other body approved the release of excess crude money. The release of excess crude money was only by the express approval of the president. The practice was that the Governors’ Forum would meet and agree to appeal to the president to release funds to assist them in fulfilling their various states’ obligations. I was a state governor during the presidencies of Chief Olusegun Obasanjo, Alhaji Umaru Musa Yar'Adua and Dr. Goodluck Jonathan and the procedure was the same".

It is rather unfortunate that we have this attitude of trying to pull down our best. Dr. Ngozi Okonjo-Iweala is a global star and only came back to serve her country and she did that with passion. We gain nothing trying to pull her down. We did it with Aruma Otteh, but we know what she is today.

I have been in several meetings where this woman (Dr. Ngozi Okonjo-Iweala) was almost crying as she explained and pleaded with all and sundry on the need to save for the rainy day. She advised that proceeds from excess crude sales should be saved in the Sovereign National Wealth Fund for effective management. I have read newspaper reports that it is ironic that she spoke of a rainy day when it was already pouring. I personally remain indebted to her because it was from her persistent preaching on the need to save in the Sovereign National Wealth Fund that made me incorporate savings in foreign currency - that is why  one  third of the money we left  on leaving office was in foreign currency, $156 million(N25 billion at that time). With interest now it would be about $170 million and with the current rate it is almost N40 billion.

My position in all these is that we must cultivate the attitude of saving as a country. Excess crude money should be saved in the Sovereign Wealth Fund. No country will survive without saving for the future. Even in animal's kingdom, the ants save for the rainy days. We must save bearing in mind that natural resources that we enjoy today are depleting assets.