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Excess Crude Account

Nigerian Army: $1 billion approved to fight insurgency hasn’t been released

The Nigerian army says it is yet to get $1 billion approved to fight insurgency and other security challenges in the country.
MUHAMMADU BUHARI 2

AFRICMIL sues Muhammadu Buhari over withdrawal of $496 million for purchase of Tucano aircraft

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.
Peter Ayodele Fayose

DMO confirms Ayodele Fayose’s administration N120 billion debt profile

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.

NEC: Nigeria’s excess crude account stands at $2.09 billion

The National Economic Council (NEC) says Nigeria’s Excess Crude Account stood at over 2.09 billion dollars as at Oct. 16.

Report: Ayodele Fayose leaves Ekiti with N120 billion debt

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.
Acting Finance Minister of Finance Zainab Ahmed

Federal, states, local governments share N742 billion in August

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.

Governor ‎Fayose signs 2018 supplementary budget

The Ekiti State Governor, Ayodele Fayose, on Friday signed the 2018 supplementary budget of N9.9bn into law.

Report: Nigeria wasted $1 trillion earned in oil booms

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.

2018 Budget: Inherent mischief and financial recklessness

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.

Internal Security: Service chiefs demand for more equipment

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.
Anthony Mkpe Ayine

Auditor-General: Excess Crude Account is illegal

The Auditor-General of the Federation, Anthony Ayine, has advised the federal government to legalise its continuous maintenance of the Excess Crude Account, ECA.

Ex-Minister Okonjo-Iweala: Why ex-President Jonathan government didn’t save despite oil boom

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.
Minister of Finance, Kemi Adeosun

PDP demands Kemi Adeosun’s immediate sack, arraignment over NYSC certificate scandal

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.

Kemi Adeosun: Deadlocked FAAC meeting may affect salaries

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.

Minister: Why FAAC meeting ended in deadlock

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.

House of Representatives probe alleged misuse of $30 billion by NDPHC

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.

Ekiti guber: It is wickedness appointing ex-Rep Bamidele as campaign chief – PDP tells...

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 guber: PDP, group differ over N165 billion allocation

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.

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