The National Economic Council (NEC) has set up a committee to immediately investigate a shortfall of N3.5 trillion in remittance by the Nigerian National Petroleum Corporation (NNPC) into the Federation Account since 2012.

The council, which has the 36 state governors and the Governor of Central Bank of Nigeria as members, is saddled with the responsibility of advising the President on economic affairs of the country.

This was disclosed at a briefing at the State House on Monday attended by Vice Presi‎dent Yemi Osinbajo, Edo State Governor, Adams Oshiomhole, and his counterparts from Kaduna, Zamfara and Akwa Ibom States.

Oshiomhole stated that the council will also look at the Excess Crude Account and report back on the rationale to which it would continue or discontinue operation.

He disclosed that the committee will also sort out the differences between what former Finance Minister, Ngozi Okonjo Iweala, declared as the balance in the Excess Crude Account and what this administration met in the account.

Oshiomhole stated that while Okonjo-Iweala, had claimed that the past administration left 4.1 billion dollars in the account, only 2.0 billion US dollars was found in it by the owners of the account- the three tiers of the government.

The governor said it had become necessary to look into the account to see who authorised withdrawals from the account and what had necessitated such withdrawals.

Members of the committee to be chaired by Osinbajo include Governors Nasir El-rufai (Kaduna), Adams Oshiomhole (Edo), Emmanuel Udom (Akwa Ibom) and Ibrahim Dankwabo (Gombe).

The committee is expected to report back to the council at its next meeting on the 23rd of July.

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Post Reply

Posted: at 29-06-2015 08:38 PM (8 years ago) | Addicted Hero

oooooooooooh

Posted: at 29-06-2015 09:14 PM (8 years ago) | Addicted Hero

Sit down look Na Dog name!!!!!

Posted: at 29-06-2015 10:46 PM (8 years ago) | Gistmaniac

wasted generation

Posted: at 29-06-2015 11:14 PM (8 years ago) | Hero

GOOD STEP

Posted: at 29-06-2015 11:40 PM (8 years ago) | Gistmaniac

I thought Buhari said there is no Single kobo left in the Account ?

Posted: at 30-06-2015 04:45 AM (8 years ago) | Gistmaniac

See change

Posted: at 30-06-2015 04:57 AM (8 years ago) | Upcoming

"It is our turn". This 'wise saying' of the past eight years will reveal so much sleeve that will take a long time to rectify. We are just beginning to officially know the extent of this rot. Madam Deziani and Okonjo -Iweala should be prepared to come and explain this economic abracadabra to us (Nigerians).

Posted: at 30-06-2015 06:51 AM (8 years ago) | Upcoming

I thought Buhari said there is no Single kobo left in the Account ?

what was left is the change nah

Posted: at 30-06-2015 08:48 AM (8 years ago) | Upcoming

 

Posted: at 30-06-2015 10:03 AM (8 years ago) | Hero

Nigerians nawao oh

Posted: at 30-06-2015 06:48 PM (8 years ago) | Hero

Dis country is too corrupt

Posted: at 15-08-2015 08:28 PM (8 years ago) | Hero

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