Ezekwesili others advise fg on excess crude account

You're referring to the recent development where the Federal Government of Nigeria (FGN) has been advised by some notable Nigerians, including Oby Ezekwesili, to take a closer look at the Excess Crude Account (ECA).

For context, the Excess Crude Account is a savings account created by the Nigerian government to store excess crude oil revenue above the budgeted amount. The account was established in 2003 to ensure that the country has a financial buffer in case of fluctuations in oil prices or production.

Recently, Oby Ezekwesili, a former Minister of Education and a vocal advocate for transparency and accountability in government, has been urging the FG to take a closer look at the ECA. She has been calling for the account to be audited and for the government to provide a clear breakdown of how the funds have been utilized over the years.

Ezekwesili's concerns are not unfounded. There have been allegations of mismanagement and lack of transparency in the management of the ECA. For instance, in 2019, the Nigerian Senate ordered an investigation into the ECA, citing concerns that the funds had been mismanaged and that there was a lack of transparency in the account's operations.

Other notable Nigerians who have also advised the FG on the ECA include:

1. Professor Pat Utomi, a renowned economist and former presidential candidate, who has called for the ECA to be audited and for the government to provide a clear breakdown of how the funds have been utilized.
2. Dr. Ngozi Okonjo-Iweala, a former Minister of Finance and a renowned economist, who has also called for the ECA to be audited and for the government to provide a clear breakdown of how the funds have been utilized.
3. The Nigerian Senate, which has ordered an investigation into the ECA and has called for the government to provide a clear breakdown of how the funds have been utilized.

The FG has responded to these calls by stating that it is committed to transparency and accountability in the management of the ECA. The government has also announced plans to audit the account and to provide a clear breakdown of how the funds have been utilized.

Overall, the debate around the ECA highlights the need for transparency and accountability in government, particularly in the management of public funds. It is essential that the FG takes concrete steps to address the concerns raised by Ezekwesili and other notable Nigerians, and to ensure that the ECA is managed in a transparent and accountable manner.