$1bn ECA Security Fund: PDP under Socio-emotional Distress – Presidency replies

Yesterday, the Peoples Democratic Party of Nigeria called on the Federal Government to explain the whereabouts of an allegedly missing $1bn from the Excess Crude Account security fund.

The Presidency in its response on Sunday night declared that the Peoples Democratic Party (PDP) is currently under socio-emotional distress.

The Senior Special Assistant on Media and publicity, Garba Shehu, described the allegation as ‘rubbish’ adding that “the PDP is under socio-emotional distress. T

Giving an account of how the money withdrawn from the excess crude account was spent, he said;

“Here is what happened to that USD 1,000 million. It’s on record that the Buhari administration paid about USD 490 million for a dozen Super Tucano fighter aircraft in a direct, government-to-government (no Contractors or Commission Agents) transaction with government of the United State. Various other military procurements have been made. Balance of expenditure stands at about USD 880 million or so.”

He said that barring considerations of national security, the details of the stage of implementation, the procurements made and the suppliers could be obtained on Monday, a workday.

Differentiating Buhari’s administration from the immediate past PDP administration, he said that the now opposition party spent defence procurement funds on 2015 election campaigns.

He said “the PDP spent Defence procurement funds on their failed 2015 political campaigns as proven in court. That is not to say every succeeding government, more so one led by a Buhari will do the same”.