19.07.2012 - Nigeria: Let the sovereign wealth fund begin
And so in the light of the absence of a direct express prohibition as well as the laudable purpose of the SWF a court will be too hesitant to take a narrow view that can prove a disservice to the national interest. The court would have to consider the likely inconsistencies, absurdity and inconvenience between a single account (the Federation Account) and the expediencies of subsidiary funds aimed at savings and investments (Excess Crude Account, SWF, etc.) in pursuit of welfare, good governance and national prosperity...............................................Full Article: Source
Print