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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Market

Nigeria: President,governors in crucial meeting

Posted on 21 September 2012

Goodluck JonathanPresident Goodluck Jonathan last night engaged state governors, under the platform of Nigeria Governors’ Forum, in a strategic meeting, as part of his ongoing efforts to resolve issues that have been raised by the state governors. These include illegal deductions from the federation account, the Sovereign Wealth Fund, onshore/offshore dichotomy and others.
The governors of the 36 states had dragged President Jonathan to the Supreme Court seeking legal redress against the federal government over what they called “illegal deductions” from the federation account. The governors had disclosed that the deductions, which the federal government was making, were specifically to offset oil subsidy payments, Excess Crude Account and other unconstitutional withdrawals……………………………………….Full Article: Source


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