#NEWS - Explain the whereabouts of $1bn ECA security fund - PDP to President Buhari

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

The PDP in a statement today said, “the Peoples Democratic Party of Nigeria draws the attention of Nigerians to the shocking confession by the National Security Adviser, Gen. Babagana Mongunu (rtd), that he is not aware of the whereabouts or disbursement of the $1bn drawn from the Excess Crude Account by the Muhammadu Buhari Presidency in 2017 for security purposes.

“This confession by the NSA, who coordinates the security architecture of the nation, directly places a huge burden on President Buhari’s doorsteps over reported stealing and diversion of funds meant for security, while insurgency, banditry, killings and kidnapping fester in the land under his watch.  

“The revelation by NSA further vindicates our initial alarm that the APC-led administration is overtly corrupt, deceptive and unreliable in the handling of the affairs of our nation. It further validates the stance of the PDP that agents of the Buhari Presidency and the APC were hiding under the guise of security to siphon $1bn from the ECA.  

“This, perhaps, informed the desperation by the cabal to draw from the account without recourse to statutory due process of appropriation by the National Assembly. From Gen. Mongunu’s confession, Nigerians can further see why our nation is daily confronted with disturbing videos and reports of our fighting troops protesting their neglect and inadequate equipping, leading to their vulnerability in the fronts.  

“Now that the National Security Adviser has declared that he is not aware of the whereabouts of funds, the burden, straightaway, lies squarely on President Buhari to immediately address the nation on how the money was handled. This is especially as there are already allegations in the public space that certain funds meant for security were diverted for 2019 campaign activities of the All Progressives Congress, while our troops languished in the (war) front.  

“Our party had always alerted Nigerians that the APC administration was insincere in the handling of the ECA fund, leading to our demand in 2017 for the National Assembly to investigate the handling of the $1bn. The Peoples Democratic Party hereby restates our demand that President Buhari allows for a system-wide investigation into the whereabouts of the $1bn, as well as the handling of other funds meant for security purposes under his watch.”