ECA Depletes By $1b To Fund Boko Haram War, Junaid Calls The Insurgency A Cash Cow

The Oasis Reporters

December 16, 2017

With a war chest of one billion dollars (360 billion naira), the military (left) is expected to be motivated enough to tackle boko Haram (right) head on.

The National Economic Council (NEC) on Thursday, asked the Federal Government to withdraw $1bn from the $2.3bn currently in the Excess Crude Account (ECA) and use it to fight insurgency in the North-East.

Edo State Governor Godwin Obaseki broke the news to State House correspondents at the end of the NEC meeting chaired by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja.

Obaseki said council members expected that the money would be spent on the purchase of security equipment, procurement of intelligence and logistics, among others.

“The NEC also resolved through the Chairman of the Nigeria Governors’ Forum, Alhaji Abdulaziz Yari of Zamfara State. to support the effort of the Federal Government in the area of security,” he revealed.

“Pleased with the achievements that have been made till date in the fight against insurgency, particularly in the Northeast, the governors of Nigeria through their chairman announced at the NEC meeting that the governors have given permission to the Federal Government to spend the sum of $1billion in the fight of insurgency.

“This money is supposed to be taken from the Excess Crude Account.

“As you know, the issue of security, particularly as regards the North-East, is a very comprehensive response by federal forces.

“So, we expect that the contribution of the states to these efforts will cover the whole array of activities required to secure the country and counter-insurgency.

“We expect that the amount will include but not limited to the purchase of equipment, procuring intelligence and logistics and all things required to ensure that we finally put an end to the scourge of insurgence.”

Defense Contractors are expected to be on standby and ensure that the money is judiciously spent on the weapons they ought to buy and the intelligence sectors that need to be funded to give the military help in knowing the ways of boko Haram before their defeat.

Meanwhile, Alh. Junaid Mohammed has called the war against boko Haram as a veritable cash cow, and perhaps that is one major reason the war may not end because war merchants and contractors need the business that ensures a regular supply of their merchandise of death.

Greg Abolo

Blogger at The Oasis Reporters.

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