Nigeria, March 10 -- The Senate Committee on Finance has demanded the identity of lawyer paid $4 million from the Excess Crude Account as a consultancy fee.

The fee was reportedly paid by the managers of the ECA.

The Chairman of the committee, Adeola Olamilekan, made the demand on Tuesday at a session with the Accountant-General of the Federation, Idris Ahmed, on the dwindling status of the Excess Crude Account.

As of February, data provided by the Office of the Accountant-General of the Federation showed that the ECA balance was $71.81 million, compared to the $324.968 million balance as of January 16, 2020.

The ECA was created by former President Olusegun Obasanjo in 2004 for saving revenue realised from crude oil sales above the bu...