| On May 11, 2011 the Nigerian Senate approved the Nigeria Sovereign Investment Authority Bill, 2010, which sought to establish a sovereign wealth fund to manage excess profits from the country’s sale of crude oil. Before then, it had been passed by the House of Representatives, in line with the Nigerian Constitution.
It was subsequently signed into law by the President of the Federal Republic of Nigeria, His Excellency, Dr. Goodluck Ebele Jonathan, GCFR. More than a year later, on August 28, 2012, the Coordinating Minister for the Economy and the Honourable Minister of Finance, Dr (Mrs) Ngozi Okonjo-Iweala announced the appointment of the Chairman of Board and Management team of the Nigerian Sovereign Investment Authority (NSIA)..............................................Full Article: Source
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