Why I Ordered Withdrawal of $462 Million From ECA Without Approval , Buhari Writes Senate | CNR

President muhammadu buhari has explained the reason why he ordered withdrawal of $462 million from the extra crude account (ECA) without seeking approval from the National Assembly.

He said it was because he believed the National Assembly would have no objection to his action.

What the President referred to his action was the withdrawal of the fund for the procurement of 12 Super Tucano Aircraft from the United States of America, USA.

The President's explanation was contained in a letter he sent to the upper chamber of National Assembly which was read at the chamber today. A copy of the letter had in advance been sent to the house of representatives.

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"I wish to draw the attention of the senate to the ongoing security emergencies in the nation. These challenges was discussed with state governors and subsequently at the meeting of the National Economic Council on the 14th of December 2017 where a resolution was passed with the council approving that up to $1 billion maybe released and utilized from the Excess Crude Account to address the situation.

"Subsequent upon this approval, we are preparing a comprehensive schedule of all the requirements for each of the security services for presention to the National Assembly for consideration.

"It would be recalled that, for a number of years, Nigeria have been in discussion with the United States Government for the purchase of Super Tucano Aircraft under a direct Government-to-Government arrangement. Recently, approval was granted by the United States Government but a deadline within which part payment must be made otherwise, the contract would lapse.

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The President said he had therefore ordered the withdrawal for the payment because he believe the National Assembly would approve the release of the fund.

"In the expectation that the National Assembly would have no objection to the purchase of this highly specialized aircraft, which is critical to national security, I granted anticipatory approval for the release of $496,374,470.00. This was paid directly to the treasury if the United States Government.

"I am therefore writing, seeking approval of this House for the sum of $496,374,470.00 (equivalent to N151,394,421,335.00) to be included in the 2018 Appropriation Bill, which the National Assembly is currently finalising. The balance of the requirement for critical operational equipment is still being collated from the different security and will be presented in form of a Supplementary Appropriation Bill, in due course.

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The Honourable Minister of Defense and other appropriate officers will be available to provide further details, as may be required.

He thanked the Senate for their 'usual cooperation'