04.05.2010 - Segun Aganga, mind the GAPP!
From Thisdayonline.com: Segun Aganga, the new Minister for Finance, has announced that Nigeria will transfer its Excess Crude Account (ECA) monies into a Sovereign Wealth Fund (SWF). He justified the change on the need for a legal framework to guide the use of ECA monies, just like other OPEC nations. Issues have been raised over the FGN's withdrawals from the ECA and the legal establishment of a SWF will lend transparency to the use of oil budget surpluses.............................................Full Article: Source
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