The claims where made on Tuesday , June 23 by former minister/Deputy Chairman of the National Planning Commission (NPC), Abubakar Suleiman after president Buhari said he inherited empty treasury from Jonathan Administration. Read more.
However, in clarification, Dr Ezekwesili stated via twitter on Wednesday,June 24 as Reported by Pulse.ng that the $30billion CBN reserve is no longer available to the Federal Government because it has already been collected and spent as Naira.
She said:
" Who is this ex-Minister that doesn't know $30Billion CBN Reserve is no longer available to FG cos it ALREADY collected and SPENT it as Naira?"
'FG earns Oil Revenue Dollars but spends in Naira. so it hands the Dollars it earns to its Banker- CBN which FG Naira for Budgets."
The $30billion is CBN's Dollar Reserve and should FG ever ask for any part of it again , it will result in double dipping & PRINTING MONEY."
"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"
"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 $2B ONLY".
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?
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.
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.
Una sabi... nonsense nigerians and their politics...
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