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

Excess Crude Account: States ask supreme court to hear case

Posted on 23 November 2012

States Thursday told the Supreme Court that they have lost confidence in the ability of the Federal Government to reach an amicable settlement with them on the dispute over illegal spending of the funds in the Excess Crude Account and other revenues which ought to be shared among the three tiers of government.
They are therefore calling on the Supreme Court to proceed with definite hearing of the case. Chief Adegboyega Awomolo, SAN who represented the states told the court that his clients wanted the case decided on the merit since the parties had not been able to come up with am amicable settlement………………………………………..Full Article: Source


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