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Vol 52 No 5

Published 4th March 2011


So where did the money go?

Obscure accounts uncover a black hole in state finances as politicians hit the campaign trail promising to end corruption

Opposition parties claim that over US$27 billion is missing from state accounts, managed by the People’s Democratic Party government under President Goodluck Jonathan and his late predecessor, Umaru Musa Yar’Adua. Coming just before the national elections, the row is as huge as the sum (AC Vol 52 No 4). The missing money was in the Excess Crude Account (ECA), where the government lodges its excess oil revenue.

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