FAAC: FG, States, LGs Shared N1.1trn in March   The Federation Account Allocation Committee (FAAC) has shared a total sum of N1123.391 billion as March 2024 federation account revenue to the federal government, states and local government councils. The balance in the Excess Crude Account (ECA) was...

Nigeria's ECA Shrinks From $35m To $376,655   The Federal Government has drawn down the Excess Crude Account (ECA) to $376,655.09 from $35.377 million in May, this year. This means that in one month the government withdrew $35,000,344.91from the ECA. The ECA is supposed to be a savings...

Nigeria’s Excess Crude Account Drops To $72m   Nigeria’s Excess Crude Account (ECA) now stands at $72 million as the country continues to grapple with an unprecedented revenue crisis not seen since the early eighties. The ECA account has now fallen by about 98% within the...

How Buhari Regime Depleted ECA By N1.5trn - Report     Between 2015 and 2019, the Federal Government withdrew N1.5tn (about $4.92bn) from the Excess Crude Account (ECA), statistics obtained from the Ministry of Finance have revealed. The ECA, which was created by former President Olusegun Obasanjo in...

In One Month, FG Depletes ECA By $253.1m   The Federal Government depleted the Excess Crude Account by $253.1m between January 16 and February 19, analysis of figures from the Federation Account Allocation Committee, has shown. As at the end of the FAAC meeting on January 16,...

In 7 Years, Excess Crude Account Deplete By N6.48trn   In seven years, the Federal Government withdrew the sum of N6.48tn from the Excess Crude Account meant for the ‘rainy day’. However, within the same period, only N4.7tn was transferred into the account. Between January 2012 and...