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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

ECA swells to $4.05b

Posted on 16 July 2014

The balance in the Excess Crude Account (ECA) has increased to $4.05 billion, following the approval by the Federation Account Allocation Committee (FAAC) for the transfer of N50.35 billion into the ECA.
At the end of the FACC meeting for the distribution of June 2013 allocation to the three tiers of government, members of the committee, especially those from the states, kicked against the retention of fuel subsidy. They described the retention of fuel subsidy as a fraud against the country………………………………………..Full Article: Source


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