$1bn ECA Balance Is $123.11m, Presidency Says The Presidency on Monday gave additional details on how the controversial $1bn approved from the Excess Crude Account in 2017 to fund security operations was spent. According to the Presidency, the unspent balance as of today is $123.11bn. The Peoples...

ECA Shrinks To $631m As FG Withdraws $1.6bn In Three Weeks Between November 25 and December 19, the amount in the Excess Crude Account declined by about $1.68bn, statistics obtained from the Federation Account Allocation Committee have revealed. As of November 25 when the FAAC committee...

Crude: States Get N1.9tr Excess Account Loans   The Federal Government said, as of September 2017, it has disbursed a total of N1.91 trillion loans to states from the Excess Crude Account (ECA), the budget support facility and the Paris Club refunds. Vice President Yemi Osinbajo said...

Reps Move To Legalise Excess Crude Account The House of Representatives on Tuesday moved to legalise the controversial Excess Crude Account by proposing a bill to capture all excess revenue in a new account to be called Excess Revenue Fund Account. The bill, proposed by a...

Each state gets N800m to pay salaries, pensions The Federal Government may have succumbed to pressures from some state governors, as it has approved and directed the release of N28billion to 35 states of the federation, excluding Lagos state, as budget support facility. Giving the approval,...

Former Vice President, Alhaji Atiku Abubakar called on the federal government to live on taxes the way advanced democracies do instead of relying on oil revenue. Atiku stated this while speaking at the investiture ceremony of the nineth President and Chairman of Council of Chartered...