Excess Crude Account Rises to $3.6bn in February 2014

Nigeria’s Excess Crude Account (ECA) now stands at about $3.6 billion compared to $3.4 billion in February.

The Accountant General of the Federation (AGF), Mr. Jonah Otunla, disclosed this after the monthly meeting of the Federation Account Allocation Committee (FAAC) which also yesterday shared a total distributable revenue amounting to N641.38 billion among the three tiers of government March.

Also, the committee also voted unanimously at its plenary to remove oil subsidy from its books, according to Chairman, Commissioners of Finance Forum, Mr. Timothy Odah.
He said their resolution would be communicated to the presidency for immediate action