25.10.2011 - Nigerian governors appeal to block sovereign fund
Nigeria's powerful governors applied to the supreme court on Monday to block the federal government's planned removal of $1 billion from the country's crude oil savings to set up a sovereign wealth fund (SWF). Nigeria's finance minister, Ngozi Okonjo-Iweala, laid out a timeframe for the launch of the country's SWF last week, in what was supposed to be the start for Africa's biggest oil exporter of improvement in the management of often-squandered crude oil earnings.............................................Full Article: Source
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