Tuesday, August 23, 2011

Nigeria: New Wage - Govs Want Sovereign Wealth Fund Suspended

A strategy from the playbook of Mitch McConnell?

Daily Trust
23 August 2011


Governors of the 36 states of the federation are calling for the review of the Sovereign Wealth Fund (SWF) as a condition for the payment of the N18, 000 minimum wage, saying SWF short-changes revenue flows.

Benue State Governor Gabriel Suswam and his Bauchi State counterpart, Isa Yuguda, disclosed this yesterday while briefing newsmen shortly after the maiden meeting of the National Economic Council (NEC) held at the Council Chamber of the State House, Abuja.

The Federal Government has, however, set up an intervening committee headed by Vice President Mohammed Namadi Sambo to discuss with the governors on how to redress the stalemate that has been trailing the operation of the Sovereign Wealth Fund (SWF), which the governors termed as "unconstitutional."

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