The National Economic Council (NEC) presided over by Vice President Yemi Osinbajo has approved the investment of an additional two hundred and fifty million dollars into the Nigerian Sovereign Investment Authority (NSIA).
The NSIA Managing Director and Chief Executive Officer, Mr. Uche Orji, who briefed journalists after the meeting, said the NEC had also approved the constitution of a committee to be chaired by Governor Nasir El-Rifai of Kaduna State to consider how a portion of the Pension Fund can be leveraged into investment in the NSIA with possible implementation with PenCom.
Mr. Orji said the membership of the committee will include the Minister of Finance, Budget, and National Planning, the Governor of Central Bank of Nigeria (CBN), and the NSIA Managing Director.
The NSIA Managing Director, who said that NSIA presented its 2018 annual report and 2019 finance update, stated that the outfit and its group had made a profit total of forty- four point three billion naira in 2018, noting that as at the first six months period ended in 2019, the NSIA had made a profit of twenty- four billion naira so far.
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