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

Nigeria: Sovereign wealth fund bill passed

Posted on 12 May 2011

The Senate yesterday read for the third time and passed the Sovereign Investment Authority Bill with a seed capital of N150 billion for the take off of the Sovereign Wealth Fund.
The legislation creates the Nigeria Sovereign Investment Authority, which will be split into the Nigeria Infrastructure Fund, the Future Generations Fund and the Stabilisation Fund, according to a draft of the bill. Each component will represent at least 20 per cent of the total……………………………………….Full Article: Source

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