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Nigeria’s SWF: To be or not to be?

Posted on 02 October 2012

It’s a big day on Tuesday for investment banker Uche Orji and, potentially, for Nigeria’s future fiscal stability, too. Orji, who has worked at JP Morgan, Goldman Sachs and most recently UBS, in New York, starts on Tuesday as CEO of the Nigerian Sovereign Investment Authority.
His job will be to establish and manage the country’s proposed $1bn sovereign wealth fund, which is meant to safeguard some oil revenue for later use. Given the many billions of petrodollars squandered or stolen by senior officials in recent decades, few dispute that the SWF is a good idea. But it has not been welcomed by all………………………………………..Full Article: Source


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