09.12.2015 - Nigeria: Sovereign Wealth Fund: Supreme Court to hear suit March 8
Supreme Court yes­terday adjourned till March 8, 2016, the suit filed by 36 states of the fed­eration against the Federal Government over a dispute arising from the mainte­nance of Excess Crude Ac­count and the transfer of one billion dollars from the account to the Sovereign Wealth Fund, SWF. The 36 states are praying the court to decide whether the states had a share in the SWF. The Supreme Court had earlier granted a re­quest by the parties to settle the matter out of court and to explore an amicable reso­lution of the disagreement. When the matter came up for hearing yesterday, the Federal Government through its counsel from Wole Olanipekun and Aus­tin Alegeh’s chambers informed the court that a new Attorney General of the Federation had just re­sumed office and will need time to study the case file for necessary action...............................................Full Article: Source