03.12.2012 - Nigeria: SWF and challenges of execution
About two months ago the Federal Executive Council (FEC), which includes the 36 state governors, approved the establishment of a Sovereign Wealth Fund SWF), but to run concurrently with the Excess Crude Account (ECA) for the time being. The Fund is expected to provide a firmer legal basis to ring-fence Nigeria’s savings. It has three main aims: saving money for future generations, providing financing for badly needed infrastructure, and starting a stabilisation fund to defend the economy against commodity price shocks...............................................Full Article: Source
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