Showing posts with label Why fuel. Show all posts
Showing posts with label Why fuel. Show all posts

Wednesday, January 9, 2013

Why fuel subsidy account is empty —Okonjo-Iweala




The Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Tuesday confirmed The PUNCH’sstory that the Federal Government’s subsidy account with the Central Bank of Nigeria was empty, blaming the situation on technical hitches in the documentation with the CBN. Okonjo-Iweala, while briefing journalists in Abuja, said the transfer of funds meant for fuel subsidy payments from the excess crude dollar account to its naira equivalent accounted for the empty account.

ST

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