The House of Representatives yesterday passed the sovereign wealth fund (SWF) bill, a week after the senate delivered the legislation proposed by the federal government to hold billions of oil revenue differentials between budget benchmarks and actual market prices.
Seeking to avoid a harmonization procedure, the house approved the senate's version of the law and passed the Nigeria Sovereign Investment Authority bill, with an initial investment minimum of the naira equivalence of $1 billion.
Seeking to avoid a harmonization procedure, the house approved the senate's version of the law and passed the Nigeria Sovereign Investment Authority bill, with an initial investment minimum of the naira equivalence of $1 billion.
