States, Federal government to share $1.6 billion in ECA

The accountant-general of the Nigerian Federation, Ahmed Idris said Monday night that all the tiers of government will soon share $1.6 billion from the savings in the Excess Crude Account.

Idris said this after a briefing of President Buhari about the state of the country’s finances in Abuja. He said the sharing of the money was in line with the recommendations of the National Economic Council, which met in Abuja last week.

The briefing was also attended by the Permanent Secretary, Federal Ministry of Finance, Mrs Ana Daniel-Nwaobia.

Addressing State House correspondents after the closed-door briefing, Daniel-Nwaobia said the briefing was to let the President have first-hand information about happening in the ministry and its agencies.

She said her ministry was working assiduously to ensure that all revenue leakages were blocked as instructed by President Buhari.

President had earlier expressed that he looked forward to a prudent management of the finances of the country.

“What I will say is that, the briefing was to update Mr President’s office with what is happening.

“Though handing-over notes were presented, but discussing the notes and clarifying the issues in the handing-over notes is very, very important and that’s what we have done with the President.

“And, at this briefing at least, we will have a bit of insight into how he wants us to run the ministry in the interim,’’ the Permanent Secretary said.

Daniel-Nwaobia, who described permanent secretaries as the engine room of the Civil Service, dismissed the allegation that there was last-minute large scale looting in the federal ministries, departments and agencies.