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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Profile/New Launches

Senate, minister differ on $1.03bln Excess Crude fund

Posted on 05 November 2013

The Federal Government and the Senate yesterday disagreed over the whereabout of $1.03 billion Excess Crude Fund. The disagreement followed the disclosure by the Minister of Finance, and Coordinating Minister for the Economy, Mrs. Ngozi Okonjo-Iweala that the balance in the Excess Crude Account amounted to $4.3 billion.
She did not however disclose the total accrual to the account. She spoke at a Joint Senate Committee of Finance and Appropriation meeting on the 2013 budget and the Federal Government revenue-generating agencies………………………………………..Full Article: Source


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