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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, Market

Nigeria resumes oil savings, pledges greater transparency

Posted on 22 February 2011

From Businessweek.com: Nigerian lawmakers are currently working on a sovereign wealth fund that will save some of the windfall crude revenue for future generations and invest some in infrastructure, ensuring that the government can’t use it to finance running costs.
Nigerian Finance Minister Olusegun Aganga said the government has resumed savings in its excess crude account, after almost emptying the fund by September, and pledged to be more open about foreign currency reserves……………………………………….Full Article: Source


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