According to the Presidency in a document released on Tuesday in Abuja by Dr. Doyin Okupe, the Special Assistant to the President, the Federal Government has included the sum of $2.17bn to the foreign reserves in addition to what was left by former President Olusegun Obasanjo in 2007.
Prior to the assertion by the Former Minister of Education, Mrs. Oby Ezekwesili that the administration of late President Yar’Adua and Jonathan misused $67bn of the foreign reserve funds left by the Obasanjo administration, Dr Okupe said that the released document is a proof that she was wrong in her allegations.
According to the document, $2,182,457,958.35bn was left in the Federal Government Reserve by the Obasanjo administration, $9,430,353,114.29bn was left in the Federal Account and $31,517,490,922.57bn was left in the Central Bank of Nigeria Reserve.
In September 2008, the reserve was left with $60,201,735,067.21bn, and $53,000,355,063.51bn in December of the same year.
In 2009, January recorded $50,108.653, 696.18bn, and in August of the same year, the reserve recorded $41,754,314,413.02bn.
In 2010, the account began to run down with the sum of $42,075,655,941.40bn in January, and $32,339,252,389.10bn in December of the same year.
The depletion continued in 2011 with $32,246,072,142.47bn in February and $31,740,230,675.36bn in September.
In 2012, the account seemed to have gotten a boost with the sum of $33,857,370,517.77bn in February and $43,830,418,364.91bn in December.