Home Latest $1bn Excess Crude Account: APC Looting Treasury In Readiness For 2019 Elections...

$1bn Excess Crude Account: APC Looting Treasury In Readiness For 2019 Elections – Fayose


Tunde Ogunmola

Ekiti State Governor, Ayodele Fayose just distanced himself from the decision of the other state Governors, that the Federal Government make use of the $1bn excess crude money to combat Boko Haram.

The Edo state Governor, Godwin Obaseki, had on Thursday after the council’s meeting disclosed that the Governors have made the decision during the meeting which held at the presidential villa in Abuja.

But in a series of tweets, Governor Fayose said that the All Progressives Congress APC led government is planning to divert the money for 2019 elections.

He tweeted thus:

“For posterity sake, I wish to place it on record that I was not among the governors, who approved the withdrawal of $1bn, almost half of our savings in the Excess Crude Account, which belongs to the three tiers of govt to fight an already defeated Boko Haram.

“Since they said they have defeated Boko Haram, what else do they need a whopping sum of $1 billion (over N360 billion) for; if not to fund President Buhari’s re-election in 2019?

“The APC promised to wipe out Boko Haram within six months, now it is 31 months and what the APC government is wiping out is the economy of Nigeria and the means of livelihood of the people.

“They told Nigerians that the decision to withdraw $1bn from the Excess Crude Account was taken by governors of the 36 States, whereas, it was solely the idea of the federal government, which they used the arranged National Executive Council meeting to achieve.

“The question is; how can the federal government alone spend almost half of the Excess Crude money that belongs to the three tiers of government (i.e. Federal Government, States and Local Councils)?

“The reality is that our treasury is daily being looted in readiness for the 2019 elections. Nigerians are therefore alerted to this looting by the APC led FG to amass huge fund for the 2019 elections under the pretense of fighting Boko Haram as well as other dubious means.

“N360bn is equivalent to what the Federation Account Allocation Committee share to the FG, 36 States and 774 LGs monthly. Nigerians deserve proper explanations from the FG on the rationale behind spending such huge sum of money to fight an already defeated Boko Haram.”

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