$1bn from excess crude account is for national security – Osinbajo

Vice-President Yemi Osinbajo on Tuesday explained that the controversial $1billion approved by state governors from the excess crude account was for national security.

He said the governors resolved to approve the money after a national security summit organised by the National Economic Council.

Osinbajo who chairs NEC gave the explanation at the opening of the Secretary to the Government of the Federation/Secretaries to State Governments’ retreat at the Presidential Villa, Abuja.

Punch quoted him as saying that “It was after a national security summit of the National Economic Council that Governors at their forum decided to approve some money for national security,” Osinbajo explained.

It will be recalled that the Chairman of the Nigerian Governors Forum, Abdulaziz Yari had at a NEC meeting last Wednesday announced that the governors had asked the Federal Government to withdraw $1bn from the Excess Crude Account to fight Boko Haram insurgency.

The decision had attracted criticisms from groups and individuals, including the Ekiti State Governor, Ayodele Fayose; and the opposition Peoples Democratic Party.


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