PDP Accuses Buhari, APC of Fraud in Depleting ECA

December 20, 2018

Press Statement

PDP Accuses Buhari, APC of Fraud in Depleting ECA

The Peoples Democratic Party (PDP) says the revelation of furtive depletion and siphoning of $1.68 billion from the Excess Crude Account (ECA), further shows that President Muhammadu Buhari presides over a corrupt government that is bent on draining our treasury and foisting more suffering on our people.

The party accuses President Buhari of superintending over the surreptitious withdrawals from the ECA, without recourse to the statutory appropriation of the National Assembly, because funds are being frittered from the account to private purses of the cabal at his Presidency and corrupt All Progressives Congress (APC) leaders.

The party describes the excuses being peddled by the Buhari administration on the depletion as hazy, muddle-up and cannot find basis under the due process of statutory legislative approvals.

The PDP wonders why Mr. President is presiding over such impunity, if he is not drawing personal benefits from the obvious racket for which our ECA has been turned into APC’s Automated Teller Machine (ATM).

Apparently realizing that they have been rejected by Nigerians ahead of the 2019 general elections, the APC and the Buhari Presidency now want to drain our treasury and as usual, blame it on past administration.

Nigerians can recall that the PDP, which established the ECA as a buffer account to cushion the effect of any economic down turn, left $2.07 billion in the account only for the Buhari administration to drain it down to $631 million.

The PDP condemns this manifest impunity by the Buhari Presidency and demands that no more withdrawals must be made from the account by this corrupt and inept administration.

Finally, our party urges Nigerians to unite in condemnation of the depletion of our ECA by the Buhari administration, which has less than five months to leave the governance of our country for good.


Kola Ologbondiyan
National Publicity Secretary