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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Sovereign wealth fund: S-Court begins hearing on 36 govs’ suit

Posted on 26 March 2012

Five months after governors of the 36 states of the federation dragged the Federal Government before the Supreme Court over plans to transfer $1 billion from the “Excess Crude Account” to a new a new account to be known as the “Sovereign Wealth Fund,” the apex court has ordered the two parties to appear before it today, for hearing to commence on the matter.
A seven-man panel of the court, headed by the Chief Justice of Nigeria, CJN, Justice Dahiru Musdapher, has assumed jurisdiction of the legal dispute following an outright collapse of an out-of-court mediation between the warring parties………………………………………..Full Article: Source


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