Fayose: $1bn From Excess Crude Money To Fund Buhari’s 2019 Election, Not For Boko Haram

Governor Ayodele Fayose of Ekiti State has described the decision to

withdraw $1bn from the Excess Crude Account to fight Boko Haram

insurgency in the North-East region as a means by the All Progressives

Congress (APC) led federal government to fund President Muhammadu

Buhari’s re-election in 2019.


“For posterity sake, I wish to place it on record that I was not among

the governors, who approved the withdrawal of almost half of our

savings in the Excess Crude Account, which belongs to the three tiers

of government to fight an already defeated insurgency,” he declared.


Governor Fayose said; “Since they said they have defeated

Boko Haram, what else do they need a whopping sum of $1bn (over

N360bn) for; if not to fund the 2019 elections?


“The APC promised to wipe out Boko Haram within six months, now it is

31 months and what the APC government is wiping out is the economy of

Nigeria and the means of livelihood of the people,” Governor Fayose



The governor said N360 billion was equivalent to what the Federation

Account Allocation Committee (FAAC) share to the federal government,

36 States and 774 Local Councils monthly, nothing that “Nigerians

deserve proper explanations from the federal government on the

rationale behind spending such huge sum of money to fight an already

defeated Boko Haram.”


He challenged the federal government to make available to Nigerians,

how the money released by international donors for the fight against

Boko Haram was spent, adding that; “Even the Transparency

International (TI) once said in its report that some top military

officials in the country were feeding fat from the war against Boko

Haram by creating fake contracts and laundering the proceeds in the

United States, United Kingdom and elsewhere.”


The governor also alleged that the N50 billion kept by the Nigeria

National Petroleum Corporation (NNPC) in different commercial bank

accounts outside the Treasury Single Account (TSA) on the directive of

President Buhari’s Chief of Staff, Abba Kyari was part of the fund

being kept to fund President Buhari’s election in 2019.


Governor Fayose said; “Nigerians are alarmed by the revelation from

the House of Representatives that President Buhari exempted NNPC from

transferring N50bn to the TSA, and the Central Bank of Nigeria

(CBN), confirmation that a letter issued by the Chief of Staff (CoS)

to the president, Abba Kyari conveyed the directive.


“Also, they are miffed by the federal government’s idea of withdrawing

$1 billion from the Excess Crude Account to fund an insurgency they

said had been defeated.


“They went on to tell Nigerians that the decision was taken by

governors of the 36 States, whereas, it was solely the idea of the

federal government, which they used the arranged National Executive

Council meeting to achieve.


“The question is; how can the federal government alone spend almost

half of the Excess Crude money that belongs to the three tiers of

government (i.e. Federal Government, States and Local Councils)?


“The reality is that our treasury is daily being looted in readiness

for the 2019 elections. Nigerians are therefore alerted to this

lootings by the APC led federal government to amass huge fund for the

2019 elections under the pretense of fighting insurgency in the

North East as well as other dubious means.”