Story Highlight: Fayose sues FG over proposed withdrawal of $1billion from ECA
December 19, 2007: The Federal Government of Nigeria on Tuesday said the $1 billion Excess Crude Account fund would be used for more than the fight against Boko Haram. While providing clearer explanation about the controversial $1 billion on Tuesday, Vice President Yemi Osinbajo said the money was not meant for Boko Haram war alone.
In his words, “It was on account of the security summit that the governors at the Governors’ Forum subsequently decided that they would vote a certain sum of money, which has become somewhat controversial, the $1bn, to assist the security architecture of the country.
“It was to assist all of the issues in the states, including policing in the states, community policing, all of the different security challenges that we have,” Mr. Osinbajo said at the ongoing retreat of secretaries to the government at state and federal levels in Abuja.
Fayose sues FG over proposed withdrawal of $1billion from ECA
But Governor Ayo Fayose swiftly opposed any withdrawal from excess crude account to fight Boko Haram and has sued FG over proposed withdrawal of $1billion from ECA. While acknowledging the viciousness and urgency of the dreaded sect, Mr. Fayose said the ECA had already been overdrawn with barely $2 billion left in it.
He also argued that other states across the country require attention for economic situations that are nearly as severe as those afflicting the people of northeast.
Mr. Fayose also said the timing and the circumstances surrounding the $1 billion indicate that Mr. Buhari intended to warehouse it for his reelection bid in 2019, saying he was never a part of the discussion to earmark it.
The planned withdrawal has also been a subject of political bickering between the ruling All Progressives Congress and the opposition Peoples Democratic Party.
While the opposition party alleged attempted fraud on the part of the administration, the ruling party said all governors, including 11 from PDP, approved the fund.