The Nigeria Extractive Industries Transparency Initiative (NEITI) has promised that it would going ahead with its planned audit of the fiscal allocation and statutory disbursement of funds from the country's Excess Crude Oil Account (ECA), ecological funds and 13 per cent derivation allocation which are shared between the country's three tiers of government.
NEITI also disclosed yesterday in Abuja that this intended audit of revenue allocation, disbursement and application from these revenue sources will also cover key government agencies such as the Niger Delta Development Commission (NDDC), Petroleum Technology Development Fund (PTDF) and the Central Bank of Nigeria (CBN) with respect to the latter's management of funds for the development of natural resources.
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