SWF: Supreme Court gives FG, states final chance to settle out of court


The Supreme Court on Thursday gave the Federal Government the final chance to settle amicably, the legality or otherwise of the Sovereign Wealth Fund Account.

The apex court told the Federal Government legal team that the dispute on the revenue allocation was political and would better be resolved out of court with politicial solution.

Justice Walter Onoghen, who led six other Justices, said that the court would have no choice than to proceed to hear the case should the federal government failed to employ the out-of-court settlement option for the last time.

The suit instituted by the 36 governors against the federal government was consequently adjourned indefinitely to allow the two parties reach a compromise on the legal action.

Lead counsel to the governors, Chief Solomon Adegboyega Awomolo (SAN), had accused the federal government of foot-dragging and reneging in the implementation of the out of court settlement proposals by the two parties.

He told the apex court that a committee put in place by the two parties had met and prepared the terms of settlement which, he alleged, was not implemented by the federal government for reasons best known to it.


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