The Chairman of the committee, Adeola Olamilekan, made the demand on Tuesday at a session with the Accountant-General of the Federation, Idris Ahmed, on the dwindling status of the Excess Crude Account.
Past administrations have used funds from the ECA for fuel subsidy payments and distributed among the three tiers of government to augment revenue shortfalls. The last expenditure from the account was $250m investment in the Nigeria Sovereign Investment Authority, he said. Other expenditure was the payment of $4 million this year as professional fees to a lawyer that worked on the Paris Club funds.
“The inflows into the Excess Crude Account have been fluctuating due to the positive variance in the price of crude. The transfer into the account has witnessed downward trend in view of the low prices, particularly from year 2015 to date. Mr Ahmed also told the lawmakers that even though the federal government has begun implementation of the recurrent component of the 2020 budget, it was yet to release any amount out of the N340 billion it planned for the first quarter of the year.In the 2020 budget, N2.465 trillion was allocated for capital expenditure.
Ultimately senate wants their share of the heist.
IamtheOGee They keep sharing our commonwealth while the people get poorer.
What uselessness are they consulting, this is pure corruption and fraud
This is how many Attorney Generals make money - assign cases to their friends at very exorbitant rates and collect kickbacks.
Ana burar uba a gaubanatinan, Allah Ya bamu sa'ar kafa gaubnati, masu kirarin gaskiya su mutu a firsin.
Thanks God oil is going down by the day
When they don't get a share, they howl their battle cry so loud you'd think they're patriots.
Is it not the same Senate that approved a loan where consultants will receive 40%?
Which senate? The rubber stamp one or there’s another senate you guys are referring to? Abeg!
Jesus. Malami don finish work.
Did you see this danielololade ? blindman
What wawu They said corruption is fighting back . Ndi ala.
dondekojo By now Malami is richer than Dangote.
With this amount for consultancy fee, I think the fight against corruption has just begun.
Why looking for the lawyer? Governors pay more than that to buy elections or obtain injunction. The lawyers to the politicians are very well known. You can start from there
Malami has sold Nigeria to himself
Incorruptible got a whole new meaning.
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