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

Nigeria: Senate approves N150 bln for sovereign wealth fund

Posted on 13 May 2011

The Senate yesterday approved N150 billion for take-off of the Sovereign Wealth Fund. This followed the passage of the Sovereign Investment Authority Bill, which seeks to create special fund for generations yet unborn.
Senate President, David Mark, who presided over yesterday’s session which passed the bill, expressed confidence that the fund will enable future generations of Nigerians benefit from the nation’s oil and other natural resources……………………………………….Full Article: Source


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