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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Profile/New Launches

Senate approves $1bln for sovereign wealth fund

Posted on 12 May 2011

The senate on Wednesday, passed the Nigeria Sovereign Investment Authority bill, with an approval that it be jump started with the Naira equivalence of $1 billion.
The start-up capital is to be contributed by the three tiers of government including the federal capital territory, each contributing a percentage of the initial fund equal to such government’s share of the federation revenue in accordance with the subsisting formula……………………………………….Full Article: Source

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