Press Release

Trilateral Agreement on the Sharing, Transfer, Repatriation, Disposition and Management of Certain Forfeited Assets

February 21, 2020 –

Update on NSIA’s engagement of the NSIA Designated Independent Auditor

On the 3rd of February 2020, the Federal Government of Nigeria (“FGN”), The Bailiwick of Jersey and the Government of the United States of America entered into an agreement regarding the sharing, transfer, repatriation, disposition and management of certain forfeited assets (the “Recovered Assets Agreement”). The Nigeria Sovereign Investment Authority (the “NSIA”) is named the Implementing Authority of the Agreement, for the FGN.

As part of NSIA’s responsibilities under the Recovered Assets Agreement, the NSIA is required to engage the services of an Independent Auditor – the NSIA Designated Independent Auditor. The Agreement requires that the procurement for the NSIA Designated Independent Auditor is to be by limited bidding from the Top 4 International Firms (the “Firms”).

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NSIA Announces Audited Financial Results for 2018 Financial Year

April 29, 2019 –

The Nigeria Sovereign Investment Authority (“NSIA” or “The Authority”), manager of Nigeria’s sovereign wealth fund, today announced its results for the 2018 financial year. The results show strong performance in a year when many international markets under-performed and the global economy experienced a moderate pace of expansion.

Despite concerns over international trade flows, slow growth in key economic indicators and increased volatility across financial markets, the Authority’s investment strategy proved robust with headline numbers maintaining a favourable trajectory across the three funds – The Stabilisation Fund, Future Generations Fund and Nigeria Infrastructure Fund

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Appointment of Executive Directors

March 9, 2019 –

The NSIA today announced that the Presidency has confirmed the appointment of two Executive Directors to the NSIA Board. Mrs. Stella Ojekwe-Onyejeli has been reappointed as Executive Director for a second term. She is also the Chief Operating officer of NSIA. Mr. Aminu Umar-Sadiq, who is NSIA’s Deputy Head of Direct Investments, has been appointed, for the first time, as Executive Director.

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NGN8.5Bn Guaranteed Corporate Green Infrastructure Bond

March 1, 2019 –

Lagos, Nigeria: InfraCredit, a ‘AAA’ rated infrastructure credit enhancement facility backed by the Nigeria Sovereign Investment Authority, GuarantCo (a Private Infrastructure Development Group company), KfW Development Bank and Africa Finance Corporation, is pleased to announce its guarantee of North South Power Company Limited’s (“NSP”) NGN8.5billion 15-Year 15.60% Series 1 Guaranteed Fixed Rate  Senior Green Infrastructure Bonds Due 2034 (the “Series 1 Green Bonds”) under a NGN50billion Debt Issuance Programme. NSP is the operator of a 30-year concession on the 600MW Shiroro Hydroelectric Power Plant.

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Commissioning of the NSIA - LUTH Cancer Treatment Centre

February 9, 2019 –

His Excellency, President Muhammadu Buhari today commissioned the NSIA - LUTH advanced cancer treatment centre located in the Lagos University Teaching Hospital (LUTH), Idi-Araba, Lagos.

Structured under a public-private partnership (PPP) arrangement between the Nigeria Sovereign Investment Authority (NSIA), and the LUTH, the project is a US$11 million investment for the rehabilitation, equipping and operation of an existing cancer centre co-located in LUTH, which will provide advanced radiotherapy and chemotherapy treatment services. The PPP is executed as a Build-Operate-Transfer (BOT). The NSIA owns the centre 100% today and but full ownership is expected to revert to LUTH after 10 years of operations.

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