| The Federal Government on Tuesday at the Supreme Court denied operating Excess Crude Account (ECA). It therefore challenged the 36 states challenging the legality of the alleged account to prove otherwise. The case came up on Tuesday after several failed attempts for an out-of-court settlement between the warring parties. Federating states are also challenging the transfer of $1 billion from the account to the Sovereign Wealth Fund (SWF).
The court, presided by the Chief Justice of Nigeria, Mahmoud Mohammed, adjourned proceedings to March 19, 2015 after the court could not locate some of the processes filed by counsel to the 36 states of the federation, Yusuf Alli...............................................Full Article: Source
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