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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials, Fund Management/Administration

Nigeria: SWF - Govs vow to expose FG over Excess Crude Funds’ depletion

Posted on 04 December 2013

Governors of the 36 states of the federation, vowed to expose how the Federal Government had continued to deplete funds accruing from the proceeds of crude oil sales, petroleum profit tax and oil royalties, otherwise classified as excess crude proceeds.
This was even as a seven-man panel of the Supreme Court, yesterday, fixed March 24 to commence hearing on a suit seeking to stop the Federal Government from transferring $1 billion from the Excess Crude Account, to a new account to be known as “Sovereign Wealth Fund,” SWF………………………………………..Full Article: Source


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