When you invest in a mutual fund, you purchase units of a fund, where each unit represents a share
of ownership of the fund's value.
U.S. and European banks and insurance companies have
gained ownership of these funds, so that the revenue they earn is removed from the domestic economy rather than being part of its circular flow.
The National Intelligence Agency had also gone to President Muhammadu Buhari to
claim ownership of the funds and also reportedly present documents as evidence that the funds were approved by former President Goodluck Jonathan.
The lawyers stated, «Therefore, if not for mischief purposes, how can anybody reasonably
attach ownership of funds in the accounts of a company to a particular person?»
The ownership of the fund can be bought, sold or transferred like shares of stock.
A human rights group, Socio - Economic Rights and Accountability Project, SERAP, has told President Muhammadu Buhari to speak to Nigerians on the recovered $ 43.4 m, N23m and # 27,000 (N13bn) in order to clear the controversy surrounding
the ownership of the funds.
The ownership of the fund can easily be bought, sold or transferred in much the same way as shares of stock, since ETF shares are traded on public stock exchanges.
The ownership of the fund is split with 1.339 / 1.370 = 97.8 % of the value for the old capital and 2.2 % for the new capital.