Bloomberg News

Nigerian States File Lawsuit to Stop Wealth Fund, Guardian Says

October 25, 2011

Oct. 25 (Bloomberg) -- Twenty-three of Nigeria’s 36 state governors filed a suit at the Supreme Court to stop the federal government from starting a sovereign wealth fund, the Lagos- based Guardian newspaper reported, citing Solomon Awomolo, a lawyer representing the states.

The governors also want savings from crude oil exports to be transferred to the court until the suit is determined, the newspaper said.

--Editors: Dulue Mbachu, Ben Holland.

To contact the reporter on this story: Elisha Bala-Gbogbo in Abuja at ebalagbogbo@bloomberg.net

To contact the editor responsible for this story: Dulue Mbachu at dmbachu@bloomberg.net


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