NEC Consent The Investment Of $250m In Sovereign Wealth Fund

Vice President Yemi Osinbajo who moderated for The National Economic Council (NEC) consented the investment of an additional $250million into the Nigerian Sovereign Investment Authority (NSIA).

Eye9ja report that  Mr Uche Orji, The NSIA Managing Director/Chief Executive Officer, who briefed State House correspondents after the meeting, reviewed that in consideration to how a portion of the Pension Fund can be leveraged into investment in the NSIA with possible implementation with PenCom, the NCE has approved the constitution of a committee to be chaired by Governor Nasir El-Rifai of Kaduna State.

The Chief Executive Officer also mentioned that the committee will consist of the Minister of Finance, Budget, and National Planning, the Governor of Central Bank of Nigeria (CBN), and the NSIA MD.

He said the NSIA had made a profit of N24 billion so far, as at the first six months period ended in 2019.

He added that it was achieved in the face of a volatile international market environment driven by the trade dispute between the United States and China as well as Brexit challenges.




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