| 12.05.2011 - Senate approves $1bln for sovereign wealth fund |
| The senate on Wednesday, passed the Nigeria Sovereign Investment Authority bill, with an approval that it be jump started with the Naira equivalence of $1 billion. The start-up capital is to be contributed by the three tiers of government including the federal capital territory, each contributing a percentage of the initial fund equal to such government's share of the federation revenue in accordance with the subsisting formula..............................................Full Article: Source |