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

CBN Calls for Inclusion of Sovereign Wealth Fund in the Constitution

Posted on 08 May 2014

The CBN has suggested to the National Conference Committee on Public Revenue and Finance to ensure that the country’s Sovereign Wealth Fund (SWF) is included in the constitution. The acting Governor of CBN, Serah Alade, who was represented by Deputy Governor, Corporate Services, Alhaji Suleman Barau, gave the advice during a presentation to the committee yesterday in Abuja.
According to the News Agency of Nigeria (NAN), Alade said the fund was intended to replace the Excess Crude Account (ECA), in order to provide long term savings for economic stabilisation, development of infrastructure and generational equity………………………………………..Full Article: Source


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