| From Vanguardngr.com: The reduction in the reserves level is attributable to the increased demand for foreign exchange, in line with increased economic activity by the public and private sectors, including the outlays on the power sector by the three tiers of government, and the seed money for the Sovereign Wealth Fund.”
Since the conclusion of the Fitch report, a Bill to establish the Sovereign Wealth Fund has been submitted to the National Assembly and a transaction adviser has been appointed to lead the power privatisation efforts in the first quarter of 2011...........................................Full Article: Source
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