13.09.2012 - Making sovereign wealth fund transparent
In the context of a policy programme aimed at achieving fiscal prudence, enhancing the management of oil wealth, and building a savings base for future generations of Nigerians, the Nigerian government has established a Sovereign Wealth Fund, with an initial investment of $1bn. Accompanying the SWF’s launch is the establishment of an institutional foundation for the management of the Fund, called the Nigerian Security Investment Authority, with a mandate to provide policy, technical and investment guidance for the NSIA’s operations. Describing the SWF as a far-sighted initiative, Nigeria’s Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, recently stated that it would place Nigeria “firmly on the path to economic transformation.”..............................................Full Article: Source
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