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

Nigeria: Legislation for sovereign wealth long overdue

Posted on 18 December 2012

The creation of Sovereign WealthFund (SWF) by the Federal Government is perceived to be a noble idea. but its implementation is now dogged with resistance from no less a quarter than the governors of various states of the federation, culminating in a suit before the Supreme Court. The state governments are challenging the legality of the excess crude account and the Federal Government’s alleged transfer of $1 billion from the account to SWF.
in this interview, Kayode Sofola (SAN), an experienced commercial lawyer, who has always participated in various national assignments, including those relating to the swf, explains the idea behind it. he also spoke on other related issues……………………………………….Full Article: Source


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