₦airaland Forum

PresidObi:
You can log on to zommby forum and have more fun there. That's where all your APC friends are.

You can recommend your forum to your fellow wailers.

Firebox123:
you can't tell seun what to do or not

I can't give seun feedback?. who trained you?

Bobloco:
Is there actually any way to verify this claim?"

Phnuel007:
Coward
It’s true that the ECA was originally created to save excess crude oil revenues above the budget benchmark, and that during the Jonathan administration, the Sovereign Wealth Fund (NSIA/NSWF) was established by law to create a stronger, more transparent savings system.

However, the idea that "no kobo has gone into the ECA since then" is incorrect and misleading for a few reasons:

1. ECA Remained Active After the Sovereign Wealth Fund Was Created:
- Even after the NSIA law was passed in 2011, the ECA continued to receive and disburse funds.
- For example, by 2014, the ECA balance was still around $4.1 billion, which proves it was actively managed and funded even after the Sovereign Wealth Fund started operating.
- If it was truly abandoned, the balance would have been zero or near zero immediately but it wasn’t.

2. Governors Still Negotiated and Received Withdrawals from the ECA:
- Throughout the Buhari years (2015–2023), the National Economic Council (NEC) kept approving withdrawals from the ECA for security funding, state bailouts, budget support loans, and infrastructure projects.
- If the ECA was "dead" after NSIA was created, why were NEC and FAAC still accessing and discussing ECA balances?

3. Poor Savings Discipline Is the Real Issue:
- The real problem isn't whether ECA "legally" exists or not it’s that both federal and state governments lacked the discipline to save.
- Whether through ECA or NSIA, consistent political withdrawals and failure to replenish savings led to the emptying of both accounts.

4. ECA and SWF Serve Different Immediate Purposes:
- ECA was a more flexible, easily accessed stabilization account (political tool).
- NSIA (Sovereign Wealth Fund) is more structured, investment-driven, and long-term with strict rules about how money can be invested or withdrawn.
- Even today, the NSIA exists and is growing, but the ECA was supposed to still act as a short-term fiscal buffer. Both could have been funded separately if there was enough political will.

Summary:
- ECA was not abandoned after the NSIA law it remained in use for years.
- The reason there’s no money in the ECA today is due to withdrawals and lack of fresh savings, not because it became illegal or obsolete.
- Blaming Jonathan’s creation of the Sovereign Wealth Fund ignores the real issue: government after government spent without saving.

GEJ Administration said it, argue with GEJ.

Even without insult, it will ban you. What exactly is the instructions given to the bot?.

Firebox123:
then leave and abandon the forum

Did I take permission from you before coming here?. Guy, face your life, I was talking to seun.

I thought the bot was supposed to delete comments laced with insults and tribalism. Why is it banning comments devoid of insults and tribalism?. Immediately you make a comment, it deletes it automatically. It has been deleting and banning users comments indiscriminately. The fact that users accounts are restored after 30 minutes does not change the fact that the bot is attacking people's comments indiscriminately. Who's checking the bot?. Abeg, let the Moderators do their job otherwise people will be discouraged and forced to abandon the forum.
I come in peace.

Bobloco:
Is there actually any way to verify this claim?"

Phnuel007:
Coward
It’s true that the ECA was originally created to save excess crude oil revenues above the budget benchmark, and that during the Jonathan administration, the Sovereign Wealth Fund (NSIA/NSWF) was established by law to create a stronger, more transparent savings system.

However, the idea that "no kobo has gone into the ECA since then" is incorrect and misleading for a few reasons:

1. ECA Remained Active After the Sovereign Wealth Fund Was Created:
- Even after the NSIA law was passed in 2011, the ECA continued to receive and disburse funds.
- For example, by 2014, the ECA balance was still around $4.1 billion, which proves it was actively managed and funded even after the Sovereign Wealth Fund started operating.
- If it was truly abandoned, the balance would have been zero or near zero immediately but it wasn’t.

2. Governors Still Negotiated and Received Withdrawals from the ECA:
- Throughout the Buhari years (2015–2023), the National Economic Council (NEC) kept approving withdrawals from the ECA for security funding, state bailouts, budget support loans, and infrastructure projects.
- If the ECA was "dead" after NSIA was created, why were NEC and FAAC still accessing and discussing ECA balances?

3. Poor Savings Discipline Is the Real Issue:
- The real problem isn't whether ECA "legally" exists or not it’s that both federal and state governments lacked the discipline to save.
- Whether through ECA or NSIA, consistent political withdrawals and failure to replenish savings led to the emptying of both accounts.

4. ECA and SWF Serve Different Immediate Purposes:
- ECA was a more flexible, easily accessed stabilization account (political tool).
- NSIA (Sovereign Wealth Fund) is more structured, investment-driven, and long-term with strict rules about how money can be invested or withdrawn.
- Even today, the NSIA exists and is growing, but the ECA was supposed to still act as a short-term fiscal buffer. Both could have been funded separately if there was enough political will.

Summary:
- ECA was not abandoned after the NSIA law it remained in use for years.
- The reason there’s no money in the ECA today is due to withdrawals and lack of fresh savings, not because it became illegal or obsolete.
- Blaming Jonathan’s creation of the Sovereign Wealth Fund ignores the real issue: government after government spent without saving.

[author=Phnuel007 post=135138182]


Coward
It’s true that the ECA was originally created to save excess crude oil revenues above the budget benchmark, and that during the Jonathan administration, the Sovereign Wealth Fund (NSIA/NSWF) was established by law to create a stronger, more transparent savings system.

However, the idea that "no kobo has gone into the ECA since then" is incorrect and misleading for a few reasons:

1. ECA Remained Active After the Sovereign Wealth Fund Was Created:
- Even after the NSIA law was passed in 2011, the ECA continued to receive and disburse funds.
- For example, by 2014, the ECA balance was still around $4.1 billion, which proves it was actively managed and funded even after the Sovereign Wealth Fund started operating.
- If it was truly abandoned, the balance would have been zero or near zero immediately but it wasn’t.

2. Governors Still Negotiated and Received Withdrawals from the ECA:
- Throughout the Buhari years (2015–2023), the National Economic Council (NEC) kept approving withdrawals from the ECA for security funding, state bailouts, budget support loans, and infrastructure projects.
- If the ECA was "dead" after NSIA was created, why were NEC and FAAC still accessing and discussing ECA balances?

3. Poor Savings Discipline Is the Real Issue:
- The real problem isn't whether ECA "legally" exists or not it’s that both federal and state governments lacked the discipline to save.
- Whether through ECA or NSIA, consistent political withdrawals and failure to replenish savings led to the emptying of both accounts.

4. ECA and SWF Serve Different Immediate Purposes:
- ECA was a more flexible, easily accessed stabilization account (political tool).
- NSIA (Sovereign Wealth Fund) is more structured, investment-driven, and long-term with strict rules about how money can be invested or withdrawn.
- Even today, the NSIA exists and is growing, but the ECA was supposed to still act as a short-term fiscal buffer. Both could have been funded separately if there was enough political will.

Summary:
- ECA was not abandoned after the NSIA law it remained in use for years.
- The reason there’s no money in the ECA today is due to withdrawals and lack of fresh savings, not because it became illegal or obsolete.
- Blaming Jonathan’s creation of the Sovereign Wealth Fund ignores the real issue: government after government spent without saving.[/quote]This was during GEJ Administration tration. Oya dey argue with GEJ

malali:

Tinubu entered power March 2023. Today is April 2025------- We have 2 years of not paying oil and forex subsidy.
Oil and forex subsidy was $8.1 billion to $14.4 billion annually
Where is the money ?
Atleast Buhari paid and Nigerians enjoyed the benefit.
Tinubu is not paying subsidy. Federation account is empty. Nigerians are not enjoying any benefit.
Where is all the money going to ?

Who send you go school?, who is your class teacher?. A man that was sworn in on May 29, entered power in March? . So he was sharing seat with Buhari? . Try dey think before talking na, abi dem swear for una to dey yarn gutters.

malali:
The latest ECA balance proves beyond debate: this administration is racing Nigeria to poverty at breakneck speed.
In 2021, our Excess Crude Account had $72.4 million.
In 2025, it’s now a pitiful $473,000 — almost completely wiped out.
Add the mountain of reckless borrowings and it’s clear: Nigeria is being hollowed out financially right before our eyes.

Illiteracy dey worry you, was Tinubu in power on March 2023?. I dey ask again, who sent you people go school?.

oluwaahmed:
Is it correctional officers Nigeria needs now or state police officers I don't think this guy is actually governing Nigeria. Seems like a figure head

Because there's no state police, prison services should be left unattended to?. I hail people who send una go school, i swear.

PresidObi:
His birth certificate says 17, but APC agbero are insisting he's 18 to punish him.

As per say you be hin papa, nonsense talk. Abeg shift. Even if he's 10 years, there's juvenile detention in Nigeria.

PresidObi:
The boy is 17 and didn't rob anyone. Stop acting like an APC agbero.

Are you his father, na you born am?..You know more than the police who had his personal details?.

FuglyGurl:
https://www.thecable.ng/report-tories-mull-replacing-badenoch-as-party-leader-after-poor-ratings/

So, what should we do about this now?, what's our business?.

PresidObi:
Instead of appointing a legal task force to provide speedy justice to clear the correctional facilities of people like Yusuf Quadri that have no business being in detention, he is employing more people to take care of innocent children being locked up on suspicious circumstances everyday?

Surely, this man built Lagos corruption.

What's this illiterate saying ffs!. When you give kids phone, this is what you get. Because an 18 year old adult was put in detention for alleged robbery, then no recruitments should be made for correctional facilities nationwide?. Do you guys have common sense at all?.

Arostar2023:
That's exactly what I am saying...his boundaries. His wife can contest for elective positions in Anambra if she has the political goodwill and support, not waiting to have it on a platter because she is Peter's wife.

Like Bianca and Betty were allowed?. I think you're a kid behind the keyboard.

Arostar2023:
Na so... tomorrow, if tries to contest for governor, some people go remind him of his roots. Na who no know una go fall for una.

Why would he want to pass his boundary?, can his wife go to Anambra and contest as a senator?

All focus is on Abuja, the only interest of opposition is to grab power at the center. They neglect the states and direct their attacks at Abuja.

Hakeem Baba Ahmed, Datti Baba Ahmed and their families are descendants from Mauritania. Their father migrated to Nigeria, so nobody should be shocked when a stranger doesn't mind if Nigeria burned. If we had a Trump, he and his families would be deported back to Mauritania.

..

mindtricks:
You have a point, but if the FG is against them and chooses to be uncooperative, there's not much that the state can do. At such times you may hear excuses like "order from above".

That's when it becomes political, the FG can overrule the Governor but when serious security issues emerge, the ever hand must be on deck.

CodeTemplarr:
are you sure you havent taken kolanut oath with your principal and lost your brain in the process. In a nation where police guard politicians, is it zonal or divisional police officer that will re-assign themselvea to hotspots?

This one is a big mumu, you no dey see police men in your community?

CodeTemplarr:
State police commisioner thats in settlements cannot reach hinterlnds where the damages takes place most times.

Lol, so a commissioner does not have zonal and divisional police officers under him?, do you have common sense at all?

shortgun:
Oga, you are a complete ignorant mumu.
Stop mentioning me until you are ready to have sense.
I gave you free lessons that you should be thankful for but you are here typing incoherent gibberish.
Nonsense

You have a brain the size of a peanut, I ask you again, how is Soludo improving security in Anambra?.

CodeTemplarr:
Does NSA report to governors or president?

Does military run on a state by state basis or centrally?

Though the governors arw guilty because thwy know how to conteol the police n army for personal ambition sake, the bulk is with the president. A state governor can be a muslim fanatic like El Rufai was in Kaduna but is the FG also suppose to be biased?

What's this one saying?. Every state has a state police commissioners, Military commanders, NSCDC commanders and they all submit reports to the Governors daily.

shortgun:
Olode, stop disgracing yourself in public

Let me explain it to you like you are a 7 year old.

Every security agency in Nigeria(Army, Navy, Air Force, Police, EFCC, Civil Defense, etc.) and its personnel are directly under the control and command of the President.
No Governor in Nigeria has the constitutional right to command, control, direct, dismiss or employ any member of the security agencies.
Do you understand it now, or do you need an interpreter?
And Security vote is not a security budget.
Next time I'll be taking fees

You're a buffoon. If the Governors wanted to harass the opposition with security apparatus within their states, they don't get approval from the President before doing that. And we have seen it play out several times that the President redeployed heads of security in a state at the request of the Governors. It is silly and ignorant kids like you making stupid excuses for the Governors. When Soludo woke up , are there no improvement in Anambra now?. You too mumu.

shortgun:
Go to school you say no. Now see how you are disgracing your ancestors in a public forum

Dispute what I said, empty head

Racoon:
Insecurity; Jonathan Must Resign, He is Incompetent." (Bola Ahmed Tinubu).

Same Man is on the saddle now but the killings are being normalised under his leadership. From Benue, Kogi, Plateau, Nassarawa, and the larger swathes of southern Nigeria, the same pathetic story all over.

CodeTemplarr:
Bro Yekini is deflecting the blame. Was it so under GEJ even when we all knew the dominant region in the military hated GEJ deeply?

shortgun:
Tinubu is a complete failure. He has failed in everything and made Nigerians situation worse than he met it.

In your empty head, it is the president that will be solving communal clashes?. So, what are the Governors doing to solve the crisis of communities in their states?, what are they doing with the security votes they collect?. Can't the Governor declare a curfew in the affected communities?. What do the Governor do with the security reports he receives daily?.