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

Excess crude account: S/Court fixes Sept 25 for hearing

Posted on 22 May 2012

A full panel of the Supreme Court, headed by the Chief Justice of Nigeria (CJN), Justice Dahiru Musdapher, on Monday, fixed September 25 for definite hearing in the suit filed by the 36 states of the federation against the Federal Government, challenging the legality of the Excess Crude Account and the decision to transfer $1 billion from the account to the Sovereign Wealth Funds.
The Federal Government had, before now, asked the court for time to enable it to settle the matter out of court………………………………………..Full Article: Source


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