Presidency debunks reports of bailout funds from Excess Crude Account
Posted by admin | 9 years ago | 2,461 times
The Presidency has debunked rumours that the bailout funds released by the Federal Government was from the Excess Crude Account, describing the report as untrue.
Presidential Adviser on Media and Publicity, Femi Adesina who made the clarification said that the Excess Crude Account was intact. He said the bailout funds were drawn from the dividend paid to the federation account by the NLNG.
Adesina maintained that all the measures approved by the President to help state governors pay off debts did not include drawing from the Excess Crude Account or the liquidation of the account as reported in some media.
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