16.08.2010 - FG draws down $3bln from Excess Crude Account
From Vanguardngr.com: The appetite for more funds by the three tiers of government has forced the Federal Government to draw down a $3 billion in one fell swoop from the Excess Crude Account, leaving behind a mere $460 million. Accountant-General of the Federation, Alhaji Ibrahim Dankwambo, disclosed at the monthly Federation Account Allocation Committee, FAAC, meeting, in Abuja, weekend, that $1 billion of the amount was set aside for the Sovereign Wealth Fund...........................................Full Article: Source
Print