Press Release

Launch of the Nigeria Solidarity Support Fund

May 14, 2020 –

 Global Citizen and the Nigeria Sovereign Investment Authority (NSIA) announce the imminent launch of a solidarity fund designed to provide additional support for Nigeria’s response to the COVID-19 pandemic. The Fund will enable Nigerian Citizens resident at home or in the diaspora as well as international donors to come together and directly contribute to Nigeria’s fight against the pandemic.

The announcement was organised as a virtual live streamed event hosted by the NSIA and chaired by His Excellency, the Vice President of The Federal Republic of Nigeria, Profesor Yemi Osinbajo, SAN, GCON. Also participating was the Honourable Minister of Finance, Dr. Zainab Shamsuna Ahmed.

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Nigerian Government to withdraw US$150 million from the Stabilisation Fund (SF) of the Sovereign Wealth Fund (SWF) to contain emerging fiscal risks

April 8, 2020 –

The Nigeria Sovereign Investment Authority (“NSIA” or “The Authority”), manager of Nigeria’s sovereign wealth funds, today announces that the FGN plans to draw the sum of US$150 million from the Stabilisation Fund (SF).

The planned withdrawal is to assist government in addressing the emerging fiscal risks due to the coronavirus pandemic and the recent decline in government revenue. Specifically, the fund will be applied towards augmenting the June 2020 Federation Accounts and Allocation Committee (FAAC) planned disbursements to state and local governments across the country.

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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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