Amid dialogue with the governors of the 36 states of the federation, the Federal Government Tuesday announced that it had commenced the implementation of the Sovereign Wealth Fund (SWF) with a seed capital of $1 billion from the Excess Crude Account (ECA).
Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, who made the disclosure at a media parley in Abuja, said the government was launching the implementation of the SWF with a series of initial steps designed to build a strong foundation for achieving the objectives of the Fund as encapsulated in the Nigerian Sovereign Investment Authority (NSIA) Act.
According to her, the move for the recruitment of the management team of the Fund through a transparent process targeting the best qualified Nigerians within and outside the country had commenced with the engagement of KPMG to drive the process.
Source: http://nigerianbulletin.com
Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, who made the disclosure at a media parley in Abuja, said the government was launching the implementation of the SWF with a series of initial steps designed to build a strong foundation for achieving the objectives of the Fund as encapsulated in the Nigerian Sovereign Investment Authority (NSIA) Act.
According to her, the move for the recruitment of the management team of the Fund through a transparent process targeting the best qualified Nigerians within and outside the country had commenced with the engagement of KPMG to drive the process.
Source: http://nigerianbulletin.com
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