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

Nigeria: Jonathan approves $2bln excess crude funds for sharing

Posted on 12 February 2010

From Punchng.com: Indications emerged on Thursday that the Acting President, Dr. Goodluck Jonathan, might have approved the disbursement of $2bn from the Excess Crude Account for distribution among the three tiers of government.

Our correspondent gathered that a letter to that effect was sent to the Minister of State for Finance, Mr. Remi Babalola, on Tuesday as part of measures to stimulate the economy, following a meeting with governors of the oil producing states………………………………….Full Article: Source

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