This was disclosed on Friday by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu
Browsing: Excess Crude Account
NEITI disclosed this in its quarterly report released in Abuja on Monday
The Federation Accounts Allocation Committee has shared a total of N581.566 billion February 2020 Federation Account Revenue to the Federal, States and Local Governments in the country.
The Senate on Tuesday fumed over the payment of $4 million as consultancy fee to a lawyer from the Excess Crude Account.
Media speculations regarding the Excess Crude Account being depleted have been dismissed by state governors who explained that the operation of the Account is conducted with their knowledge and due approvals of the National Economic Council.
The Peoples Democratic Party has urged the National Assembly to respond to demands by Nigerians by immediately setting up an adhoc committee to recover the allegedly missing $1 billion drawn from the Excess Crude Account by the Buhari Presidency in 2017, purportedly for security services.
The Presidency on Monday in Abuja released further details on how one billion dollars approved by the National Economic Council and removed from the Excess Crude Account to address security challenges was spent.
The party said in a statement on Sunday that this confession by the NSA, who coordinates the security architecture of the nation, directly places a huge burden on President Buhari’s doorsteps over reported stealing and diversion of funds meant for security, while insurgency, banditry, killings and kidnapping fester in the land under his watch
Bauchi State Governor, Mohammed Abubakar, said this while briefing State House correspondents after NEC meeting on Thursday at the Presidential Villa, Abuja.
Adeosun gave the explanation in a statement on Thursday
While referring to Order 43 of the Senate Standing Order (2015) as amended, the lawmaker decried the humiliation he suffered in the hands of some suspected thugs at Benin Airport over comments he made in plenary.
Giving a breakdown of the revenue accrued in March, Idris said N480.59 billion was received as gross statutory revenue, lower than N557.94 billion received in March by N77.34 billion
Buhari had approved the withdrawal of the money from the Excess Crude Account for the procurement of the aircraft from the United States of America, without prior approval from the National Assembly
Fayose, who was reacting to the killing of 18 worshippers and the two Catholic priests in Benue State allegedly by herdsmen, President Muhammadu Buhari’s withdrawal of $496 million from the Excess Crude Account without the approval of the National Assembly and the controversial arrest of Senator Dino Melaye, said it was obvious that “under this government of President Buhari, the constitution is on suspension”
The position of the party was contained in a statement by its spokesman, Kola Ologbodinyan.
Spokesman of the House, Hon. Abdulrasak Namdas, gave the advice in an interview with News Agency of Nigeria on Wednesday in Abuja.
The PDP urged the National Assembly to commence appropriate constitutional legislative actions against the government for unilaterally approving the release of the fund without allowing application of legislative instrument.
This was one of the highlights of the outcome of the meeting of the PDP Governors and members of the NWC in Asaba, the Delta State capital, on Sunday
The confusion followed a motion by Rep. Ken Chikere (Rivers-PDP) on the “Need to deduct 13 per cent Derivation from the $1 billion approved by the National Economic Council to fight Boko Haram Insurgency.”
The Minister of Information, Culture and and Tourism, Alhaji Lai Mohammed, expressed this position at a news conference in Lagos.