06.09.2011 - Governorsí stance against $2.62trn global SWF practice
Oil producing nations currently have $2.62 trillion held in Sovereign Wealth Funds (SWFs). This revlealation comes on the heels of moves by state governors to ensure that the SWF is not established in Nigeria, despite an existing law to that effect. The governors, under the auspices of the Nigeria Governors Forum, are challenging the establishment of the SWF, a special statutory account into which the three tiers of government are reqiured to save excess accruals from oil sales above the budget benchmark, for future spending..............................................Full Article: Source
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