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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Court Dismisses Gbajabiamila, Others’ Suit on Excess Crude Account

Posted on 12 November 2014

A Federal High Court in Abuja has dismissed a suit filed by the Minority Leader of the House of Representatives, Femi Gbajabiamila and four other members of the House, challenging the legality of the creation of the Excess Crude Account by the federal government.
Justice Abdulkadir Abdulkafarati, in a judgment on Tuesday, held that the suit was an abuse of court process. He said about five similar suits were currently pending before the Supreme Court. The judge upheld the defendants’ objection, noting that the Attorneys-General of Taraba, Abia, Niger, Bauchi and Oyo States had filed similar suits, which are now awaiting the determination of the Supreme Court. As against the argument by the defendants, Justice Abdulkafarati held that the plaintiffs had the locus standi to institute the case………………………………………..Full Article: Source


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