| Following the inability of the federal government and states to amicably resolve the dispute arising from the creation of the Excess Crude Account (ECA) and the Sovereign Wealth Fund (SWF), the Supreme Court Monday fixed March 24, 2014 for the hearing of the suit filed by the states against the federal government.
The parties, for over a year, have tried to reach an out-of-court settlement over what the states termed the illegal diversion of funds meant for the federation to the ECA and SWF, but a middle-of-the-road solution to the dispute has been impossible to reach. As a result, the two parties resumed their legal battle Monday before a full panel of seven justices of the Supreme Court presided over by Justice Walter Samuel Nkanu Onnoghen...............................................Full Article: Source
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