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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration

Nigeria: Management of Excess Crude Account

Posted on 31 January 2013

Excess crude account - Govs insist on supreme court resolution. The 36 state governors, under the aegis of the Nigeria Governors Forum (NGF), yesterday lambasted the federal government over its attitude to the management of Excess Crude Account and resolved not to entertain further adjournments of the case pending at the Supreme Court.
Several attempts for an out-of-court settlement at the instance of the federal government had failed to appease the governors who described the deductions made by the federal government from the account as illegal. The governors stated this after their first meeting for the year, which was chaired by Rivers State Governor Rotimi Amaechi………………………………………..Full Article: Source


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