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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Nigeria: Reps probe use of foreign managers for sovereign fund

Posted on 14 November 2013

The House of Representatives in Nigeria has launched a probe into the appointment of foreign portfolio managers for the nation’s Sovereign Wealth Fund. The probe is to look at the possible risks the country faces with the appointments of foreign financial institutions – UBS and Goldman Sachs – to manage the fund.
Femi Gbajabiamila, who is the house minority leader, argued that “allowing foreign financial institutions to manage the fund amounts to putting Nigeria’s economic sovereignty and security in foreign hands”………………………………………..Full Article: Source


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