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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Fund Profile/New Launches

Why inauguration of SWF management team was delayed

Posted on 28 August 2012

The unusually long period spent on due diligence on the selected management team of the proposed Sovereign Wealth Fund (SWF) and their insistence on collecting letters of appointment before resuming work, were among the causes of the delay in the announcement of the team by the Federal Government, BusinessDay investigations have revealed.
Also, the strike action by the National Union of Petroleum and Natural Gas workers (NUPENG) which necessitated finance minister, Ngozi Okonjo-Iweala’s intervention, was responsible for the deferment of the inauguration of the SWF management team, from last week to this week………………………………………..Full Article: Source


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