03.05.2010 - The National Sovereign Wealth Fund
From Businessdayonline.com: The Nigerian National Economic Council, an umbrella body for the Governors of the 36 States of the Federation and federal economic managers, said that it had resolved to replace the Excess Crude Account (ECA) with a National Sovereign Wealth Fund (NSWF) in the next three months. The NSWF, like the ECA is to manage the nation's extra earnings from higher prices of crude oil at the international market. The pool of funds derived from the country's reserves is usually set aside for investment purposes that will benefit the country's economy and citizens............................................Full Article: Source
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