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Sovereign Wealth Funds Briefing - Categorized | Financials

Sovereign wealth fund: FG to increase Excess Crude Account to $10bln

Posted on 27 June 2012

In a frantic move to save the country’s economy from crumbling under what it described as persisting global economic crisis, the Federal Government concluded plans to raise the country’s Excess Crude Account (ECA) from $5.3 billion to $10 billion.
This, it said, will provide the needed buffer for Nigeria’s economy for, at least, three months, even as it warned against unnecessary borrowing and misapplication of funds by government at all levels………………………………………..Full Article: Source


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