Sun, Nov 23, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Financials

FG Withdraws N1.9tn From Excess Crude Account

Posted on 04 July 2014

Reports obtained from the Budget Office of the Federation has revealed that the Federal Government withdrew the sum N1.99tn from the Excess Crude Account in the 2013 fiscal year.
The office, in its 2013 consolidated budget implementation report jointly signed by the Minister of Finance, Dr. Ngozi Okonjo-Iweala, and the Director-General, BoF, Dr. Bright Okogu, said the amount was used to settle various obligations of the Federal Government owing to its inability to meet its revenue targets. The withdrawals for 2013 were marginally lower than the N2.07tn taken in the 2012 period by N800m or 3.86 per cent………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 15239 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
November 2014
M T W T F S S
« Oct    
 12
3456789
10111213141516
17181920212223
24252627282930