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Sovereign Wealth Funds Briefing - Categorized | Financials

Adamawa receives $11mln from sovereign wealth fund

Posted on 02 January 2014

The Adamawa Government on Tuesday received 6.2 million dollars, representing its savings under the Sovereign Wealth Fund. The 21 local government councils in the state also received 4.8 million dollars to be shared among them.
The Sovereign Wealth Fund is a vehicle through which excess revenue from the sale of crude oil is saved abroad. Receiving certificates for the two amounts in Yola, Gov. Murtala Nyako of Adamawa, said that the introduction of the fund was laudable as it would enhance development………………………………………..Full Article: Source


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