Govs Explain How Excess Crude Account Is Being Conducted
February 28, 2020
4:10 am
State Governors have dismissed media speculations regarding the Excess Crude Account being depleted.
They explained that the operation of the Account is conducted with their knowledge and due approvals of the National Economic Council, NEC.
Answering questions from reporters at the end of the NEC February meeting on Thursday, Governor David Umahi of Ebonyi State explained that the change in the balance of the ECA from USD$325million last month to USD$71million is due mainly to the new USD$250 million investment in the Nigerian Sovereign Investment Authority (NSIA), approved by the Council.
According to him, βthe Authority is doing very well,
