Nigeria’s Acting Finance Minister Zainab Ahmed said recent debits from the excess crude account were authorized.
She said they were expended for security purposes as directed by the National Economic Council.
Data from the just concluded Federation Accounts Allocation Committee meeting shows the excess crude account’s balance now stands at $631bn (six hundred and thirty one million dollars).
This shows over one point six billion dollars has been withdrawn from the account since FAAC’s last meeting in November when the balance stood at $2.3bn (two point three billion dollars).
