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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration

Nigeria: Rivers defends Amaechi over Excess Crude Account controversy

Posted on 26 November 2013

The Rivers State government has denied that the allegation that Governor Chibuike Rotimi Amaechi was involved in demanding that funds from the Excess Crude Account be shared to augment the shortfall in the Federation Account.
The Minister of Finance, Dr. Ngozi Okonjo-Iweala, had said that Amaechi was closely involved and actively participated in making requests to the Presidency for the account to be shared among the three tiers of government for the purpose of augmenting the regular allocations from the Federation Account whenever there was a shortfall………………………………………..Full Article: Source


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