ECA: Senate Queries Accountant General over Payment of $4m Consultancy Fee

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Deji Elumoye in Abuja

The Senate on Tuesday queried the Accountant-General of the Federation, Idris Ahmed, over the payment of $4 million as professional fee for the management of the nation’s Excess Crude Account (ECA).

It has, therefore, demanded the identity of the lawyer who was paid the amount to manage the ECA.

The Chairman, Senate Committee on Finance, Senator Adeola Olamilekan, requested for the identity of the lawyer during an interactive session with the Accountant General of the Federation.

The AGF had earlier explained to the committee how the $325 million excess crude account was depleted to $71.8 million as at February.

According to him, the National Economic Council (NEC) agreed to invest $250 million into Nigeria Sovereign Investment Authority (NSIA), while $4 million was paid as professional fee to an unknown lawyer.

Details later…