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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration

Nigeria: Stanbic IBTC appointed as custodian to the SWF

Posted on 09 October 2013

Stanbic IBTC has been appointed as the local custodian of the Nigerian Sovereign Wealth Fund (SWF) by the Nigeria Sovereign Investment Authority (NSIA). The appointment was made following a rigorous exercise by NSIA. Stanbic IBTC’s experience and its track record of providing integrated securities services solutions form a key part of the reason for this selection.
The bank’s role as local custodian of the Fund, which is the third largest Sovereign Wealth Fund in sub-Saharan Africa, embraces safekeeping, settlement and other related services for assets in the region of $1 billion. Its appointment will complement NSIA’s appointment of other fund managers for the Sovereign Wealth Fund………………………………………..Full Article: Source


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