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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Management/Administration

Nigeria: Country’s sovereign wealth fund

Posted on 29 June 2010

From Allafrica.com: Nigeria’s financial status is going downhill. Government thinks a National Sovereign Wealth Fund would reverse the trend. The Excess Crude Account (ECA) is gradually being eclipsed. It would be replaced with a National Sovereign Wealth Fund (NSWF). A Federal Government team is already working on that.
Expectedly, the new NSWF will finally settle the on-again-off-again constitutional crisis that has characterised the ECA since it was created by the Olusegun Obasanjo government. The ECA has no legal backing. The NSWF is thus seen as a slow but sure departure from profligacy of the past……………………………………….Full Article: Source

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