Temitope
Temitope Akinola
The Ministry of Finance on Friday reported to the Federal Executive Council in Abuja that Nigeria Excess Crude proceeds stood at $2.207 billion as of August 2015.
This was made known in a statement credited to the permanent secretary of the ministry who made a presentation to the council today.
In a related development, the Edo State Governor, Adams Oshiomole presented a provisional report of the five-man committee raised to review the operations and management of the Excess Crude Account/federation account.
Laolu Akande, the Senior Special Assistant to the Vice President on Media and Publicity, who briefed the media said the Edo State Governor told the council that the committee had invited all relevant revenue-generating agencies and hired KPMG and WaterHouseCoopers to carry out a forensic audit of the agencies.
Central Bank Governor, Godwin Emefiele, who also briefed the council on the nation's economy, said the current state of the economy is as a result of declining oil price which has drawn on the foreign reserves, exchange rate movements and pressure on domestic currency as well as inflation and tight monetary policy.
BizWatchNigeria
This was made known in a statement credited to the permanent secretary of the ministry who made a presentation to the council today.
In a related development, the Edo State Governor, Adams Oshiomole presented a provisional report of the five-man committee raised to review the operations and management of the Excess Crude Account/federation account.
Laolu Akande, the Senior Special Assistant to the Vice President on Media and Publicity, who briefed the media said the Edo State Governor told the council that the committee had invited all relevant revenue-generating agencies and hired KPMG and WaterHouseCoopers to carry out a forensic audit of the agencies.
Central Bank Governor, Godwin Emefiele, who also briefed the council on the nation's economy, said the current state of the economy is as a result of declining oil price which has drawn on the foreign reserves, exchange rate movements and pressure on domestic currency as well as inflation and tight monetary policy.
BizWatchNigeria
