Air Force refunds N19.44bn to Stabilisation Account
Abdulwahab Isa Abuja
T
he Nigeria Air Force (NAF) has paid back N19.44 billion to the Stabilisa-
tion Account, the sum it borrowed to fund some of its key operations, New Telegraph has learnt. The Air Force repaid both the principal amount and accruing interest in three instalments, a docu-
ment sighted yesterday by this newspaper revealed. The document was, however, silent on purposes the funds were put to use and dates they were secured. But a source familiar
with the Nigeria Air Force operations, said that the larger part of the funds might have been deployed to acquiring hardware to aid in dislodging insurgent activities in the NorthEast.
The repayments were in three tranches; N9.5 billion, N7.9 billion and N2.04 billion. A serving Commissioner with the Revenue Mobilisation Allocation and Fiscal Commission
(RMAFC), who was privy to the repayments, had reportedly informed members of Federation Account Allocation Committee (FAAC) at their last meeting in Abuja. CONTINUED ON PAGE 4
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