The move to have an ad hoc committee to probe the Sovereign Wealth Fund (SWF) management was scuttled. Instead, an amendment was moved to have the House Joint Committees on Finance, Commerce and Industry and Banking and Currency to conduct a public hearing on the SWF management with a view to guaranteeing the correct usage of the fund and report back to the House within four weeks.
The tone of the motion which sailed through at the plenary was designed to ensure that lodgement of the proceeds from the SWF was domiciled in any of the viable commercial banks operating in the country………………………………………..Full Article: Source