About $1.68 billion was drawn down from the Excess Crude Account (ECA) in the last one month, leaving a balance of $631 million as at 19th December, 2018. This came to the fore at Wednesday’s Federation Accounts Allocation Committee (FAAC) meeting in Abuja. The federal government said it depleted the account to off-set the last […]
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Information and Culture Minister Alhaji Lai Mohammed has shed light on the approval of $1 billion by the Nigerian Governors’ Forum (NGF) to fight insecurity nationwide. He said the money was approved to assist the military in tackling serious security challenges, including the Boko Haram insurgency, illegal oil bunkering, kidnaping and cattle rustling. Mohammed took […]
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The Senate will, at the plenary on Thursday (today), debate the proposed withdrawal of $1bn from the Excess Crude Account by the Federal Government to fight Boko Haram insurgency. Raising a point of order at the plenary on Wednesday, Senator Samuel Anyanwu (PDP, Imo-East), sought the permission of the chamber to present a motion on […]
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The Federation Account Allocation Committee (FAAC) has distributed ₦609.95 billion from the federation Account to Federal, States and Local Government as revenue generated in November. This is ₦77.25 billion more than what they shared in October, Mr. Ahmed Idris, the Accountant-General of the Federation said. The distribution is also timely as it will enable states […]
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The Federal Government withdrew the sum of ₦359.39bn from the Excess Crude Account in 2015 to fund the payment of petroleum products subsidy in 2015, the Fiscal Responsibility Commission has said. The FRC said this in a report on the Excess Crude Account obtained by our correspondent in Abuja on Monday. According to the FRC, […]
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