07.05.2014 - Nigeria: CBN wants constitutional backing for Sovereign Wealth Fund
The Central Bank of Nigeria (CBN), on Tuesday, lauded the establishment of the Sovereign Wealth Fund (SWF), but called for full constitutional provision for tue fund. The country’s apex bank said it was necessary for Nigeria “to save for the rainy day.” Acting Governor of CBN, Dr Sarah Alade, while appearing before the national conference committee on public finance, which invited her for a chat, justified the establishment of the fund, saying it was necessary to invest in the future. She also advocated the creation of the office of Accountant-General for Federal Government, which would be separated from the existing office of the Accountant-General of the federation(AGF)...............................................Full Article: Source
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