FG Denies Operating Excess Crude Account

The Federal Government yesterday told the Supreme Court that
there was nothing like Excess Crude Account (ECA) in existence
anywhere and challenged the 36 states challenging the legality of
the alleged account to prove otherwise.
The case came up on Tuesday after several failed attempts for an
out-of-court settlement between the warring parties. In the suit, the
states are also challenging the transfer of $1 billion from the
account to the Sovereign Wealth Fund (SWF).
The court, presided by the Chief Justice of Nigeria, was forced to
adjourn proceedings to March 19, 2015 after the court could not
locate some of the processes filed by counsel to the 36 states of
the federation, Yusuf Ali.
Although Ali had urged the court for a stand down to enable him
trace the process at the registrar, he was overruled by the CJN
who said the court had no luxury of time to grant such a request.
Earlier, counsel from the chambers of the Federal Attorney
General, Mohammed Bello Adoke (SAN), Ahmed Abdulmalik
informed the court that the alleged Excess Crude Account does
not exist.
His words: “The plaintiffs are deceiving themselves. They are
aware that there is nothing like ECA anywhere. As soon as any
money comes from the account, it is channeled into the
Federation Account and shared every month among the states.
“The Federal Government is at a loss as to how the states came
up with their claim. The Federal Government is interested in
proceeding with this case so that the states can tell the court
where the ECA is domiciled. My lords, we are ready to tackle the
plaintiffs in court.”
The CJN had earlier insisted that the matter should be settled
amicably out of court by both parties saying there was nothing
difficult to warrant the interpretation by the Supreme Court.
“If counsels are sincere with their clients, it’s a matter that should
be resolved without the court’s intervention,” Justice Mohammed
stated.
In the suit, the states stated that the conduct of the government of
the federation and its officials was a violation of rule of law and a
breach of the independence of the judiciary and constitutes a
violation of the principles of rule of law handed down by the
Supreme Court in the case of Governor of Lagos v Odumegwu
Ojukwu (1986) pt 1 NSCC 304 and Rotimi Chibuike Amaechi v INEC
(2008) 5 NWLR (pt 1080) 277.
In addition, they described the action of the Federal Government as
executive lawlessness and impunity, saying the proposed
disbursement of $1 billion by the Federal Government, its Minister
of Finance and other officers would create a state of fait accompli
and helplessness, if not stopped immediately