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Nigeria: FG - Non-appointment of managers delays SWF take-off

Posted on 18 August 2011

Goodluck JonathanAlmost five months after President Goodluck Jonathan signed the Sovereign Wealth Fund (SWF) Bill into Law, the account is yet to effectively take-off, because the Federal Government has not been able to appoint those who will manage the funds.
The passage of the fund bill, celebrated as the biggest single achievement by former Finance Minister, Mr. Olusegun Aganga , was expected to replace the Excess Crude Account (ECA), created to keep back earned oil revenues which are above budget benchmark price……………………………………….Full Article: Source


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