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

Nigeria reserves may rise to strongest in more than year, FBN Capital says

Posted on 29 June 2011

Goodluck JonathanNigeria’s foreign-currency reserves may rise 24 percent to the highest in a year in the second half of 2011 as it creates a sovereign wealth fund, tightens spending and lifts curbs on inflows, FBN Capital Ltd. said.
The foreign-currency reserves of Africa’s top oil producer may rise to $40 billion, FBN Capital, the investment-banking unit of First Bank of Nigeria Plc (FIRSTBAN), said………………………………………Full Article: Source


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