Fri, Oct 24, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Performance

Nigeria: FAAC - Excess Crude Account shrinks to $3.2 bln

Posted on 17 June 2010

From Allafrica.com: Nigeria’s excess crude account has further shrunk to $3.2 billion from $4.6 billion last month, the Accountant General of the Federation said yesterday.Ibrahim Hassan Dankwambo said in Abuja at the Federation Accounts Allocation Committee (FAAC) that the reduction was because federal government dipped into the account to pay receipts such as subsidy to the oil marketers.
He did not say how much was paid to the marketers but however said in a communiqué issued after the FAAC meeting that N22. 7 billion was taken from the account to augment revenue shortfall for the month of May……………………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

 Article link

This post was written by:

VRS - who has written 15018 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
October 2014
M T W T F S S
« Sep    
 12345
6789101112
13141516171819
20212223242526
2728293031