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

SWF act unconstitutional – Fashola

Posted on 30 October 2013

Lagos State Governor, Mr. Babatunde Fashola (SAN), Monday lamented that the Sovereign Wealth initiative was unconstitutional, noting that he would receive the Shareholders Certificate of the Fund presented to him by the management of the fund only as an acknowledgement that the state’s fund was being held somewhere.
In his remarks while welcoming officials of the Nigeria Sovereign Wealth Authority led by their Chairman, Mr. Mahey Rasheed, Governor Fashola said although he would accept the Certificate as an acknowledgement that the State’s money was somewhere, it was necessary to put on record that he never supported the initiative…………………………………….Full Article: Source


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