Banking & Finance

Nigeria’s Excess Crude Account Stands At US$72.4mn

The Honourable Minister of Finance, Budget and National Planning, Zainab Ahmed on Thursday told the National Economic Council that the Excess Crude Account balance stood at US$72,409,346.76 as at 14th October, 2020.

At a meeting presided over by Vice President Yemi Osinbajo, and attended by State Governors,
the Minister added that while Stabilization Account has a balance of N47,193,630,556.96, Development of Natural Resources Account stood at N154,330,148,020.34 in the period under review.

The Council has also directed the immediate establishment of State-based Judicial Panels of Inquiry across the country to receive and investigate complaints of Police brutality or related extra judicial killings with a view to delivering justice for all victims of the dissolved SARS and other police units.

The Council specifically resolved that State Governors and the FCT Minister should take charge of interface and contact with the protesters in their respective domains.


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