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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Profile/New Launches, People

Gov. Fashola slams FG over SWF, says it’s unconstitutional

Posted on 29 October 2013

Governor Babatunde Fashola of Lagos State denounced the move by the Federal Government to inaugurate the Sovereign Wealth Fund, SWF, stressing that it negates the country’s constitution.“The 1999 Constitution does not allow us to do what we are doing,” Fashola said.
It will be recalled that, a month ago, President Goodluck Jonathan inaugurated the council of the Nigerian Sovereign Investment Authority, NSIA, also known as SWF, where he canvassed for the support of the contributors, to realise the set objective of the fund………………………………………..Full Article: Source


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