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Sovereign Wealth Funds Briefing - Categorized | People

Count Rivers out of sovereign wealth fund –Amaechi

Posted on 21 March 2011

Governor Rotimi Amaechi of Rivers State announced plans to challenge the Federal Government’s plans to establish a Sovereign Wealth Fund (SWF). Speaking after receiving the award of Man Of The Year 2010 by Independent Newspapers Limited (INL) in Lagos on Friday, Amaechi said: “the Rivers State Government is going to court against the Federal Government over the Sovereign Wealth Fund.”
He said the state government has already earmarked N1billion monthly, besides the money contributed for an Independent Power Plant (IPP), so “if they want to save, they should save from their 52 per cent share of the (Federation Account)……………………………………….Full Article: Source


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