12.12.2012 - Committee wants SWF investment in Nigerian equities
The Committee for the Resuscitation of the Capital Market set up by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has recommended that the Sovereign Wealth Fund (SWF) should invest part of its funds in Nigerian equities market for the stability of the market. In its report, obtained exclusively by THISDAY, the committee, which was chaired by the Central Bank of Nigeria’s (CBN) Deputy Governor in charge of Financial Stability, Dr. Kingsley Moghalu, advised that a major institutional investor like the SWF could help create stability since foreign institutional investors, which currently account for 70 per cent of the equities market, have contributed to its volatility...............................................Full Article: Source
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