Image result for NEC inaugurates committee to conduct audit of ecological fundsThe National Economic Council decided that state and local governments would henceforth be keeping their share of the Ecological and Natural Resource Funds for intervention as their need arises in the respective jurisdictions.

But more importantly, it called for an audit to find out why the Ecological fund is dwindling even though states that had applied for it
were yet to receive it.

The committee to carry out the audit comprises Governors of Oyo, Borno, Imo, Akwa Ibom, Kaduna and Benue States as well as the Ministers of Environment and Finance

Minister of Finance, Kemi Adesoun, had given an update at the meeting on the disbursement of Paris fund and preparation for the next round of payments to the state after the first disbursement.

The Governors were full of appreciation to President Muhammadu Buhari for releasing London and Paris loan refunds to the states which has enabled them clear salary and pension arrears and by implication moved the country closer to exiting recession

But they took exception to the impression created that the release of the funds were a favour being done to the states government’s

The minister of Finance disclosed to council that the balance in the Excess Crude account as at April the 26th 2017 stood at $2.2 billion.