| The falling prices of crude oil at the international market incapacitated the Federal Government from funding the Sovereign Wealth Fund (SWF). Managing Director of the Fund, Mr. Uche Orji disclosed this on Wednesday when he led other management staff of the organisation to brief President Muhammadu Buhari of the current status of the Fund.
The Federal Government had three years ago establish the SWF with $1billion. The fund is supposed to be funded from the Excess Crude Account, with the Federal Government approving a specific ammount for movement into the fund annually. In an interview with State House Correspondents, the SWF boss said with the current crude oil prices, government cannot afford to make additional contribution to the fund...............................................Full Article: Source
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