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

FG briefs Supreme Court on inability to settlement dispute over Excess Crude Account, Sovereign Wealth Fund with states

Posted on 26 March 2014

The Federal Government on Monday briefed the Supreme Court about its inability to reach an amicable settlement with governors of the 36 states in the dispute over the maintenance of the Excess Crude Account and its plan to move $1 billion from the account for the establishment of the Sovereign Wealth Fund (SWF).
Lawyer to the Federal Government, Austin Alegeh told the court that the office of the Vice President, saddled with the co-ordination of the settlement meeting, briefed him that the settlement has failed to yield any desired result. The court had delayed hearing in the case to enable parties explore the out-of-court settlement option………………………………..Full Article: Source


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