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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

US seeks information on Excess Crude Account

Posted on 16 November 2012

The United States (US) has demanded from the Federal Government, explanations on how it has been managing the Excess Crude Account and the country’s finances. A statement from the Office of the Accountant-General of the Federation said Mr Douglas P. Climan of the American Embassy made the demands when he called on the Accountant-General of the Federation, Mr Jonah Otunla, in his office at Treasury House, Abuja.
The diplomat was said to have told the AGF that he came to the Treasury House to understand the budgeting and the operation of Federation Account. Mr Climan said he would also like to know how ECA withdrawals were made and how the unspent balance of capital was managed………………………………………..Full Article: Source

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