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1000Reasons

Reason041

Institution

Central Bank of Nigeria Dedication and Stabilisation Accounts

Off-budget Central Bank vehicles used to receive oil revenues outside the normal federation-account budget process. Originated under the Babangida administration; found by the Okigbo Panel to have channelled approximately $12.4B in Gulf War oil windfall away from the federation account. The structural archetype for later enabling vehicles (security votes, ecological funds, NSA discretionary funds).

Sources

SOURCE-01Ogbeidi 2012
Ogbeidi 2012www.unh.edu/nigerianstudies/articles/Issue2/Political_leadership.pdf

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