Govs approved $1bn insurgency fund for national security

Vice-President Yemi Osinbajo has explained how the recently approved $1 billion for the Boko Haram war came about.

Governors gave an approval for the money to be withdrawn from the excess crude account (ECA) during the national economic council meeting last week.

Speaking on Tuesday at the secretary to the government of the federation/secretaries to state governments’ retreat holding in Abuja, Osinbajo said the fund was approved by the governors after the NEC security summit.

“It was after a national security summit of the national economic council that governors at their forum decided to approve some money for national security,” he said.

The approval has been met with criticism from various quarters, most notably from the Peoples Democratic Party (PDP).

Ayo Fayose, Ekiti state governor, has said he was not involved in the approval granted by his colleagues.