Several Sate Governors have expressed a mixture of emotions over a sum of $1 billion which some say mysteriously found its way into the Excess Crude Account and increased the allocations given to the governors in the last FAAC disbursement.
One governor said, “We were surprised to see the $1billion credited to the ECA, which has accordingly boosted our monthly allocations but the source of the money has not been indicated.
“We decided to attend the NEC meeting so as to know how the money came about and to know why our monthly revenue has been declining steadily over a period of nine months.”
Another governor said: “Whatever happens, we are happy that our monthly revenue allocations has been slightly raised even though the Federal Government has not bothered to tell us why our allocations were slashed for nine months and where it is suddenly raising money to beef up our allocations. Even the commissioners of finance in the states agree to this logic because many projects have been stalled in the past nine months due to the failure of Abuja to summon the meeting.
“If they claim money is not being kept away from the federation account, where did they suddenly get the $1billion into the ECA; we just want an answer.”
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