Home Topics Excess Crude Account
Excess Crude Account
The Nigerian army says it is yet to get $1 billion approved to fight insurgency and other security challenges in the country.
The African Centre for Media and Information Literacy, AFRICMIL, a civil society organisation, has filed a suit against President Muhammadu Buhari over the purchase of 12 Tucano aircraft worth $496 million without the approval of the National Assembly.
The Debt Management Office (DMO) has said that the immediate past administration of Mr Ayo Fayose had a debt profile of about N120 billion as at June.
The National Economic Council (NEC) says Nigeria’s Excess Crude Account stood at over 2.09 billion dollars as at Oct. 16.
The truth about the actual financial records of Ekiti State is now in the open going by the debt figures voluntarily submitted to statutory regulators, the Debt Management Office, by the outgoing government of Governor Peter Ayodele Fayose in Ekiti State.
The Permanent Secretary, Federal Ministry of Finance, Mahmoud Isa-Dutse, made this known in Abuja while briefing journalists on the outcome of the monthly Federation Account Allocation Committee (FAAC) meeting.
The report, which was funded by the Nigeria Natural Resource Charter (NNRC) and the Shehu Musa Yar’Adua Foundation, stated that Nigeria’s failure to manage these oil prosperity cycles has delayed her economic rise.
The Deputy Speaker of the House of Representatives, Yusuff Lasun disclosed, last week, that the National Assembly, would interrupt its annual recess and reconvene, sometime, this week, to consider an expenditure proposal for N242bn for conducting 2019 General Elections.
The nation’s security chiefs have demanded that the Federal Government provide more equipment for the Armed Forces in order to sustain the tempo in the fight against insurgency and other security challenges across the country.
A former Minister of Finance, Dr Ngozi Okonjo-Iweala, has linked the failure of former President Goodluck Jonathan’s administration to save for the rainy day, despite oil boom, to the insistence of state governors that funds in the Excess Crude Account must be shared.
The Peoples Democratic Party (PDP) has tasked President Muhammadu Buhari to immediately order the sack, arrest and arraignment of Finance Minister, Mrs. Kemi Adeosun, for alleged criminal forgery of her National Youth Service Corps (NYSC) discharge certificate.
Minister of Finance, Kemi Adeosun, has explained that if the issues that led to the Federation Accounts and Allocation Committee (FAAC) meeting with governors that ended in a deadlocked is not resolved, salaries might be affected in the states.
The Minister of Finance, Kemi Adeosun, on Thursday said Wednesday’s meeting of the Federation Accounts Allocation Committee (FAAC) ended in a deadlock because the revenue remitted by the Nigerian National Petroleum Corporation (NNPC) for sharing was “unacceptably” low.
Speaker of the House of Representatives, Hon. Yakubu Dogara, has said that the House will not relent until all allegations of misuse of N10.08 trillion (about $30 billion) by the Niger Delta Power Holding Company (NDPHC) is unravelled.
The campaign organisation said it was wickedness promoted to the peak for Fayemi to have appointed Hon. Bamidele, who is still receiving treatment abroad as Director General of his campaign.
Ekiti State Peoples Democratic Party (PDP) Chairman, Barr Gboyega Oguntuase, has asked the All Progressives Congress’ (APC) candidate in the governorship poll, Dr Kayode Fayemi, to explain how he spent statutory allocations and other funds that accrued to his government between 2010 and 2014.
US Trade Representative Robert Lighthizer says trade negotiations with China need to reach successful end by March 1 or new tariffs will be imposed, clarifying there is “hard deadline” after a week of confusion among administration advisers
Delta APC governorship candidate Great Ogboru says the opposition Peoples Democratic Party (PDP) is disadvantaged in terms of in winning elections in the state
Edo Governor Godwin Obaseki advocates for strong institutions, use of technology and change of attitude in fight against corruption, especially in developing countries, which will discourage the ugly act
Nigeria Police Force says it is making strident efforts at recovering the huge cash stolen from six banks by armed robbers who attacked Offa in Kwara State on April 5 this year.
President Muhammadu Buhari constitutes Presidential Implementation Committee on Autonomy of State Legislature and State Judiciary in compliance with fourth alteration to 1999 constitution
A Spanish court Wednesday upheld a disputed nine-year jail term for five men who sexually abused a woman, despite two out of five judges believing the gang committed rape and calling for tougher sentences.
President Muhammadu Buhari has approved the appointment of nine new Permanent Secretaries in the Federal Civil Service.
The second-largest Ebola outbreak in history has spread to a major city in eastern Democratic Republic of Congo, as health experts worry whether the stock of an experimental vaccine will stand up to the demands of an epidemic with no end in sight.
Rangers International coach Gbenga Ogunbote is confident that the Flying Antelopes will qualify for the First Round of the 2018/2019 Total CAF Confederation Cup competition ahead of their Preliminary Round opponents, Defence Force S.C of Ethiopia.
The Managing Director of Niger Delta Development Commission, Obong Nssima Ekere, has said the Peoples Democratic Party would lose power in Akwa Ibom State because the people are disconnected from the state government.