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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Management/Administration

Fed Govt, states talks on sovereign wealth fund collapse

Posted on 23 May 2012

Talks between the Federal Government and the 36 states on the legality of the Excess Crude Account (ECA) may have collapsed. A full panel of the Supreme Court headed by the Chief Justice of Nigeria (CJN), Justice Dahiru Musdapher, yesterday fixed September 25 for definite hearing of the suit filed by the states.
The states are challenging the legality of the Excess Crude Account and the decision of the Federal Government to transfer $1 billion from the account to the Sovereign Wealth Fund (SWF)………………………………………..Full Article: Source


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