Following the Senate’s confirmation that it was going to debate the approval given by President Muhammadu Buhari for the withdrawal of $1 billion from the Excess Crude Account (ECA) for the procurement of arms to combat insurgency and insecurity across the country, the presidency says  Buhari is yet to authorize the disbursement of the fund.

Senate President, Dr. Bukola Saraki had over the weekend revealed that his colleagues were dismayed that the president had given the green light for the release of the $1 billion without recourse to the National Assembly.

A statement released on Monday by the Senior Special Assistant to the President on National Assembly Matters, Senator Ita Enang said Buhari had not authorized the spending of the $ 1 billion as approved by the National Economic Council (NEC) last December because it had not been approved by the National Assembly.

Enang said the clarification became necessary because of the misinterpretations which followed the announcement by the Minister Of Defence, Mansur Dan Ali after last week’s security council meeting at the State House.

He stressed that the presidency was conversant with the constitutional provisions which prohibit spending from the Consolidated Revenue Fund (CRF) without the National Assembly’s approval, adding that President Buhari’s action was in accordance with best practices.

He further stated that following the collation of the needs of each of the nation’s security outfits, the President would now present the sum to the Federal Executive Council (FEC) for consideration and communicate the figure to the National Assembly for appropriation.

“This may be done as usual upon Mr. President consulting with the leadership of the National Assembly, before originating the communication to the National Assembly

“As of now, the process of approving the money for use is inchoate and still undergoing executive standard operating procedure before laying same before the National Assembly for appropriation,” Senator Enang said.

Prior to the statement from the Presidency, the Senate had on Monday stated it planned to deliberate on the President’s approval of the $1 billion once the National Assembly resumed from its Easter recess next Tuesday.