FG RESTORES DEPOSIT OF DOLLARS IN DOMICILIARY ACCOUNTS

The Federal Government has said that all bank customers that operate Domiciliary Accounts are permitted to lodge dollar cash into their non-export Dom accounts subject to the provisions of the money laundering Act.
This was made known yesterday by the Taraba state governor, Darius Ishaku, while briefing newsmen on the outcome of the National Economic Council (NEC) meeting.
He also disclosed that the Excess Crude Accounts balance stood at $3.93 billion as at 20th of July.
Ishaku added that the Minister of Budget and National Planning, Sen. Udo Udoma, also made a presentation on Medium Term Expenditures Framework (MTEF) 2017 – 2019 to the Council.
According to him, the Finance minister gave an update on Budget Support Facility stating that 35 States applied for the facility, 28 States met the requirements while 7 States sent their required documentations late and were being processed.
He added that the NEC also received proposals on new Joint Ventures Contract (JVC) funding which eliminated cash calls.
Also briefing, the Niger state governor, Abubakar Sanni Bello, disclosed that the NEC received the presentation on self sufficiency in food production by the Minister for Agriculture, Chief Audu Ogbeh.
He added that the government would soon launch "The Green Alternative" as a road map following FEC's endorsement.
The two main thrusts of the road map, according to Bello, were to operate in partnership with State Governments to meet national production targets and to embark on production of export commodities.

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