By Ben Azuka African countries are predicted to dominate the world’s top 10 highest growing economies in 2024, according to a report on Recent Economic and Social Developments in Africa by the Economic Commission for Africa (ECA). According to the ECA in the report, Niger, Senegal, Ivory Coast, DRC and Rwanda were expected to be […]
Manchester United, Chelsea, and Arsenal have resigned from the European Club Association (ECA) and Ed Woodward has stepped down from his role with UEFA after plans for a European Super League were announced. A statement released on Sunday night confirmed 12 clubs, including United and Arsenal, had agreed to form a breakaway league which would […]
…Shares N701bn to FG, States, LGAs for April The Federation Account Allocation Committee (FAAC) has added N24.5billion to the Excess Crude Account (ECA) after two years of non-remittance to the ECA despite steady increase in the price of oil sales over the year and its all time high of $80 per barrel since November 2014. […]
Governor Nyesom Wike of Rivers state on Friday kicked against the authorization for the federal government to withdraw the sum of $1billion from the Excess Crude Account (ECA) belonging to all tiers of government. He was at the presidential villa, Abuja to brief President Muhammadu Buhari on the current security situation in the state after […]
…Says funds also to battle bunkering, cattle rustling, others The Federal Government has described the criticisms trailing the approval of $1 billion for the fight against insurgency and other violent crimes in the country as unnecessary and unhelpful. The Minister of Information, Culture and and Tourism, Alhaji Lai Mohammed, expressed this position at a news […]
The approval of the sum of $1bn from the Excess Crude Account (ECA) by the Nigerian Governors Forum has continued to stir up more controversy. According to Prince Nosa Eweka of the Benin Royal Family, ”the Nigerian Governors Forum,a body that is not known by law or the constitution to purportedly execute the constitutional duty […]
Vice President Yemi Osinbajo (SAN) has thrown his weight behind the controversial approval of $1 billion from Excess Crude Account said to have been voted by the National Economic Council for the purpose of fighting insurgency and other related security challenges in the North East. Speaking at a retreat of the Secretary to the Government […]
Controversy over the Federal Government request to spend $1billion from the Excess Crude Account to fight Boko Haram insurgency took another turn as 16 Local Government Chairmen from Ekiti State on Tuesday approached the Federal High Court Abuja to stop the release of the fund. The 16 local government chairmen joined the Attorney General of […]
The Accountant General of the Federation, AGF, Ahmed Idris has reacted to Ekiti State Governor Ayo Fayose’s objection to the withdrawal of $1 billion from the ECA. The AGF said ‘Fayose should have made his objection known to the Governors’ Forum and not to the press,’stressing that the state governors as part owners of the […]
The Nigerian Senate on Tuesday ordered the abolition of the operation of the Excess Crude Account, ECA. The Upper Chamber of the National Assembly also requested the Executive to act in conformity with section 80 (1-4) and 162(1-3) of the 1999 Constitution (as amended) in its revenues receipt and expenditure. The development was sequel to […]