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

SWF: Govs threaten to dump out-of-court settlement deal

Posted on 21 May 2012

Plans by the Federal Government to transfer $1 billion from the Excess Crude Account to a new account to be known as the “Sovereign Wealth Fund,” may have met a brick wall, as Governors of the 36 states of the Federation, have threatened to dump the out-of-court settlement deal.
This is even as the Chief Justice of Nigeria, CJN, Justice Dahiru Musdapher, has directed the Federal Government and the governors to appear before the apex court today with their report of settlement or be ready for a full-blown hearing into the substantive matter………………………………………..Full Article: Source

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