A Lagos based anti-corruption body, the Coalition Against Corrupt Leaders, CACOL, has challenged the the Minister of Finance and Coordinating Minister of the Economy, Dr Ngozi Okonjo-Iweala, to clear air on the controversies surrounding the Excess Crude Account, ECA and publish its details.
It would be recalled that Governors apparently disturbed by dwindled funds accruing to the state from the Federation Account disagreed with the minister over how $20 billion that allegedly accrued to the ECA was spent.
The Minister of Finance dismissed the calls of the Governors stressing that the details of ECA are published every month along with the allocations to the three tiers of the government.
The Executive Chairman of CACOL, Comrade Debo Adeniran, in a statement issued today described ECA as illegal account, adding that verred Nigerians are expecting the details of the controversial account.
The statement read, “In the first instance, the Excess Crude Account is illegal. It is the recklessness of some politicians that necessitated the establishment of the account.
“The Minister of Finance should know that Nigerians could not wait any more to have the full details of the Excess Crude Account, not just for the last four years, but since the inception of this profligate government she oversees its economic team.
“It is a known fact that huge amount of money has been frittered away from the federal coffers by this present administration without anyone being queried or made to face the wrath of the law.
“It is also known this administration’s penchant for lying is so ridiculous that whatever said by any member of the government should be taken with a pinch of salt.
“Hence, we are calling on Mrs. Okonjo-Iweala to make good her promise by making public the details of the ECA as soon as possible.”
He also said Nigerians are “demanding the details of how their governors also used their monthly allocations.
“Nigerians want to know how much is accrued to each state from the Federation and Excess Crude Accounts and how each state expended its own share of the largesse because findings have shown that many of the states do not have much to show for the revenues.”
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