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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration

Nigeria: Excess Crude Account - Give statistics, not semantics, Nyako tells FG

Posted on 26 November 2013

Governor Murtala Nyako of Adamawa State has challenged the presidency to give facts and figures on the alleged depletion of the Excess Crude Account, saying that the use of semantics against Governor Rotimi Amaechi was largely unhelpful. He spoke in response to the war of words between the Minister of Finance, Dr. Ngozi Okonjo-Iweala and Governor Amaechi over the alleged depletion of the ECA to the tune of $5 billion.
Governor Amaechi, chairman of the mainstream faction of the Nigerian Governors Forum, NGF, had at a retreat of the forum last week in Sokoto accused the Federal Government of depleting the ECA to the tune of $5 billion without the knowledge of the other tiers of the federation who are beneficiaries of the ECA………………………………………..Full Article: Source


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