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tolu ogunlesi @toluogunlesi
, 6 tweets, 4 min read Read on Twitter
This news of $600m walking away is FALSE, Matthew, and a wild and baseless allegation like this undermines your bona fides as a Nigeria expert. And I’m going to show you why it’s fake news — the ECA Balance is not a secret, the balance is published every month.
ECA Balance:

13 Dec 2017: $2.317 billion (this was when NEC approved the release of $1bn for security:…)

14 Feb 2018: $2.317 billion

23 April 2018: $1.829 billion — this is when the money for the Super Tucanos was taken out: $2.317bn–$1.829bn= $488m
ECA Balance (Cont’d)

26 June 2018: $1.916bn

16 July 2018: $1.918bn

14 Aug 2018: $2.250bn

16 Oct 2018: $2.090bn

25 Nov 2018: $2.319bn

And then the latest news: the withdrawal of Paris Club Refund Balance from the ECA.


19 Dec 2018: $631m […]
You can see from the above that while the Governors in Dec 2017 approved the disbursement of $1 billion from the ECA for SECURITY, only about half of that has so far been drawn down - the deposit made to the US Govt for Super Tucano Aircraft in April 2018.

Cc. @MatthewTPage
Anyone who’s been tracking the ECA Balance — & as I said this is public because it’s released to the Governors during every NEC (NEC is monthly) & published in the press statement @akandeoj issues after every NEC — will know that the $1bn for Security hasn’t been fully drawn down
Evidence that Excess Crude Account (ECA) balance is not a secret, it’s published monthly after every NEC, in press statements released by @akandeoj

This is from April 2018:…

This is the July 2018 balance on @FinMinNigeria Twitter:
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