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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Nigeria needs to save for effective monetary policy, economic growth – CBN governor

Posted on 14 May 2014

The Acting Governor of the Central Bank of Nigeria (CBN), Dr Sarah Alade, says it is important for Nigeria to have reserves to ensure effective monetary policy and economic growth. Alade made this known on Tuesday in Abuja, during her presentation before the National Conference Committee on Trade and Investment.
“It should be part of our constitution that a certain percentage of whatever we earn must be saved so that we build up again the excess crude account. China today has more than three trillion dollars reserves and some oil producing countries don’t even put the oil money as part of their budget………………………………………..Full Article: Source


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