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

Nigeria appoints JP Morgan as sovereign wealth fund’s custodian

Posted on 22 February 2013

The Federal Government of Nigeria on Thursday confirmed the operational pattern of the Sovereign Wealth Fund (SWF) which is expected to take off next month and the appointment of a leading financial services firm, JP Morgan, as the custodian. The government also dismissed as untrue the reported disagreement between it and the 36 state governors under the aegis of Nigeria Governors Forum over its take off.
The Fund’s Chief Executive Officer, Mr. Unche Orji, who spoke to journalists at the end of the National Economic Council meeting presided over by Vice President Namadi Sambo at the Presidential Villa, Abuja said the Fund was going on as planned as government was determined to ensure that it becomes operational by March ending……………………………………..Full Article: Source


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