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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Profile/New Launches, People

Nigeria: Governors’ Forum declares sovereign wealth fund unconstitutional

Posted on 23 August 2011

The Nigeria Governors’ Forum (NGF), on Sunday, declared the Sovereign Wealth Fund Act (SWF) unconstitutional calling on the Federal Government to suspend its operation. President Goodluck Jonathan had, on May 27 this year, signed the National Sovereign Investment Authority Bill into law.
The NGF, which is the umbrella association of the 36 state governors of the country, in a meeting presided over by its chairman, Mr Rotimi Amaechi, maintained that the constitutional issues arising from the SWF Act needed to be looked into critically……………………………………….Full Article: Source


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