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Excess Crude Account
Nigeria’s Excess Crude Account (ECA) has been ranked as the most poorly governed among similar funds operated by resource-rich countries in Sub-Saharan Africa, a new report by the Natural Resource Governance Institute (NRGI) has shown.
The International Monetary Fund (IMF) on Friday clarified its categorisation of Nigeria as one of the countries with the worst use of the Sovereign Wealth Fund.
The Federal Government says it will use revenue accrued in the Excess Crude Account (ECA) to improve the funding of the Nigeria Sovereign Investment Authority (NSIA).
Programme Coordinator of the Nigeria Natural Resource Charter (NNRC), Tengi George-Ikoli, has expressed fears that the dip in oil prices could send the country back to recession going by the depletion of the Excess Crude Account (ECA).
A political activist and former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, has challenged President Muhammadu Buhari to account for the $1 billion he illegally withdrew from the Excess Crude Account (ECA) to purportedly fight insecurity in view of the increasing spate of killings, banditry and kidnapping across the country.
The Senate on Tuesday said it would pass the 2019 budget on April 16, and adjourned sitting for one week to give room for its committee to present reports on the budget.
President Muhammadu Buhari on Tuesday declined assent to a bill seeking to fund the completion of Ajaokuta Steel Company which was forwarded to him by the National Assembly in February 2019.
A total of N619.857 billion has been distributed as federal allocation for the month of February 2019 among the Federal, States and Local Government Councils.
The Federation Accounts Allocation Committee (FAAC) has shared a total of N610.368 billion to the three tiers of government.
The Federal Government, states and local governments have shared N649.19 billion as revenue for the December 2018.
Governor Nyesom Wike of Rivers State has called on President Muhammadu Buhari to withdraw $500 million from the Excess Crude Account (ECA) to facilitate the clean-up of the impacted Ogoni environment.
The Presidency has accused Governor Samuel Ortom of Benue State of engaging in hate campaigns against President Muhammadu Buhari.
Rivers State Governor, Nyesom Wike, has decried what he described as deliberate neglect of the Niger Delta despite the “untold environmental hardship” being faced by people in the area.
For more transparent dealing and avoidance of rancour, the Federation Accounts Allocation Committee (FAAC) is planning fresh guidelines for revenue remittances and withdrawals from the nation’s Excess Crude oil revenue Account (ECA).
Mahmoud Isa-Dutse, the permanent secretary of the ministry of finance, says the balance of the excess crude account declined by $1.68 billion between November 25 and December 19.
The Federal Government, states and local governments have shared N812.76 billion as revenue for the month of November.
The Peoples Democratic Party (PDP) Presidential Candidate, Atiku Abubakar, has said he was taken aback last week when Mr. Babachir Lawal, former Secretary to the Government of the Federation, turned up at the Presidential Villa on Thursday, December 13, 2018, where he was received with pomp and pageantry.
Four senior staff of the National Emergency Management Agency (NEMA) have been kidnapped by gunmen while another was shot on Tuesday evening in Rivers State.
Police have arrested another 16 people in connection to a series of bombings in Sri Lanka over Easter weekend which claimed at least 359 lives, officials said on Thursday.
After missing out on the U17 Africa Cup of Nations final, Nigeria U17 coach Manu Garba has praised his players, stating that they played ‘gallantly’ in the face of ‘bigger’ Guinea U17 boys.
Governor of Ekiti State, Dr Kayode Fayemi, has approved the immediate retirement of eight Permanent Secretaries in the state civil service.
American reality star Jordyn Woods says she understood “what it’s like being a black woman, after going through intense bullying following her Tristan/Kardashian saga.
Ole Gunnar Solskjaer has warned those struggling for form at Manchester United that “some players will go out” in the summer transfer window.
The suspect, who was identified as Blessing Emelor ‘m’ was arrested on April 6, 2019, along Warri axis.
The Police command in Cross River State has arrested nine (9) suspected murderers and two cultists in the state.
A US judge kept Chelsea Manning locked up Monday for refusing to testify in the secret grand jury investigation of WikiLeaks, despite its founder Julian Assange having already been charged in the case.
Super Eagles midfielder Wilfred Ndidi has been given high five by his coach at Leicester City, Brendan Rogers who praised his work ethics for the team.